The pharmaceutical market is undergoing https://www.mottmac.com/international-development a tremendous deal of modify. Companies like Pfizer and Lilly are struggling with considerable solution patent expirations. Moreover, corporation pipelines are inadequate to exchange the revenues shed to patent expirations. Last of all, EU-based and US-based providers and US are shifting their businesses in the direction of higher-growth markets in China, India, and also other Emerging Marketplaces, developing inside organizational turmoil inside their dwelling marketplaces.
As a lot of businesses know, it is decreasingly possible to easily “research” your way out of these complications. A part of the answer to these worries is acquiring and executing what we broadly make reference to for a Organization Development and Licensing strategy (BD&L). This tactic would include any and all options for seeking and financing external partnerships, licenses, mergers, and/or acquisitions.
Of course all multinational pharmaceutical and biotechnology businesses have an BD&L group, usually led by a member of your senior management team. Larger firms will have a team of a dozen or more executives, directors, and managers responsible for sourcing, analyzing, and recommending business enterprise development opportunities. Even smaller firms will have one or two individuals formally charged with the BD&L process.
So why should pharmaceutical firms, even large ones with large BD&L teams, use consulting corporations to assist them? We believe there are a few causes why this is the case:
Advancement of an Overarching Framework - Quite a few pharmaceutical and biotechnology companies should be applauded for having a strategic and focused BD&L framework. Several organizations know exactly what they are looking for, i.e., asset type, stage of advancement, geography, offer structure, and so forth. A framework, even a simple one, makes it easier for the search team to identify and quickly eliminate opportunities that do not fit. This then enables the team to focus more time on those opportunities which might be a good fit. This results in better due diligence and faster offer making.
Unfortunately, there are lots of companies which do not take a framework-driven approach. Numerous searches are haphazard, where companies look for anything with a certain revenue potential, or anything that can be sold by their existing sales and marketing infrastructure. In our experience, any approach which aims to easily provide the sales organization with products to sell is unsustainable in the long run.
Savvy BD&L executives can leverage consultancies to help them develop this overarching framework, identifying the key variables which are important to the company, its management, and its shareholders. Pharmaceutical management consultants can bring an objective perspective to an exercise which, if done properly, results in a roadmap that the BD&L team can then use to plan and execute a BD&L tactical plan.
Broaden Skill Set - We have noticed that numerous smaller BD&L teams have strengths and skills in some areas, but not others. For example, some organizations have BD&L teams led by scientists or clinicians or attorneys who lack the experience to quantitatively and financially assess opportunities. Using a consultancy can provide unbiased, rigorous quantitative analysis and financial modeling.
Extend Geographic Breadth and Depth - The traditional model for US and EU businesses was to license drugs from Japanese companies, because quite a few innovative Japanese firms lacked the global presence to develop and market their innovations outside their dwelling country.