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What's the reason for declining British Biotech?

A recent paper in Nature Biotechnology analyzed British biotech firms focusing on their returns generated, available funding, and management/director's compensation.

Inefficiency in scientific grant competitions

I recently read an article entitled "Cost of the NSERC Science Grant Peer Review System Exceeds the Cost of Giving Every Qualified Researcher a Baseline Grant". It's quite a good read and summarizes many things I've observed happening in a research environment, particularly with regards to the administrative overhead scientific researchers must deal with on a day-to-day basis.

Interdisciplinary teams

I recently read Sean Eddy's '"Antedisciplinary" Science' in PLoS Computational Biology. In it, he quotes:

"I don't think of interdisciplinary teams combining existing skills to solve a defined problem--I think of single interdisciplinary people inventing new ways to look at the world."