Pharmaceutical new product development: the increasing role of in-licensing.
Many pharmaceutical companies are facing a pipeline gap because of the increasing economic burden and uncertainty associated with internal research and development programs designed to develop new pharmaceutical products. To fill this pipeline gap, pharmaceutical companies are increasingly relying on in-licensing opportunities. New business development identifies new pharmaceuticals that satisfy unmet needs and are a good strategic fit for the company, completes valuation models and forecasts, evaluates the ability of the company to develop and launch products, and pursues in-licensing agreements for pharmaceuticals that cannot be developed internally on a timely basis. These agreements involve the transfer of access rights for patents, trademarks, or similar intellectual property from an outside company in exchange for payments. Despite the risks, in-licensing isAUSTIN, Texas -- Bevo XIII, the longest-tenured mascot in Texas

Longhorns history, has gone to the big ranch in the sky.

Bevo XIII, whose actual name was Sunrise Express, was a world champion steer at 3 years old before he became the Texas mascot. AP Photo/Rodolfo Gonzalez

The retired mascot died Monday on the private ranch where he

lived with his successor, Bevo XIV, the Silver Spurs spirit club

announced Tuesday.

"They would hang out together," said former Bevo XIII handler

Ricky Brennes. "Bevo XIV would follow him around."

Bevo XIII, 22, was on the Texas sideline for 16 seasons,

starting in 1988.

During his tenure, the Longhorns had three head coaches and won

a Big 12 football title and Ricky Williams won the Heisman Trophy.

Bevo XIII retired before the 2004 season.

He had reached his life expectancy and had