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Pharmaceutical Business Development and Licensing: Strengthening Pipelines and Managing Relationships
Cutting Edge Information, June 2011, Pages: 121
Energize your business development and licensing efforts
Whether the target is a new drug or new capital, business development and licensing deals pump lifeblood into pharma companies of all sizes.
Everyone has a different motivation for dealmaking: larger companies face portfolio gaps, for example, as well as patent expirations, pipeline setbacks and other challenges. Smaller organizations may have wizards in the lab — but limited infrastructure and resources to commercialize their innovations.
Superior business development teams address critical strategic needs by aligning goals with deal opportunities, navigating negotiation challenges and establishing clear protocols to manage relationships and create lucrative partnerships.
Gain access to both sides of the negotiating table with detailed metrics and real-company practices for business development efforts:
Build a top-notch BD&L team
Explore structure models that bolster communication and streamline reporting relationships. Use detailed benchmarks to discover when companies pursue deals and ensure your BD team has ample spending and staffing resources.
Maximize deal position
Follow strategic recommendations to guarantee a thorough process and a well-negotiated deal. Evaluate prospective partners and see how they’ll evaluate you as you identify red flags and avoid weak deals. See who should be involved in the dealmaking process and when — and learn to expertly handle the tough questions that inevitably arise.
Master post-deal management
Examine real-company practices for managing partnerships, with or without a formal alliance management team. Get the right personnel involved at the right points and build institutional memory that will protect the partnership from employee turnover.
Chapter 1: Business Development Team Goals, Structure and Resources
Chapter Benefits:
- Set your financial and staffing resources while retaining flexibility to pursue attractive opportunities.
- Track reasons that companies pursue deals
- Benchmark different structures for BD&L groups.
- Understand how larger and smaller organizations approach BD&L structure.
17 charts focused on the following structure, budget, and staffing metrics at development and commercialization-oriented companies:
- Percentage of companies with a dedicated business development function
- Business development budgets
- Business development FTEs at development-oriented companies
Licensing Activity by Phase:
- Percentage of companies performing licensing activities
- Among in- and out-licensing companies
- Among inbound and outbound co-developers
- Among inbound and outbound co-promoters
Motivation Behind Making Deals:
- Financial reasons companies pursue deals
- Pipeline-related reasons companies pursue deals
- Capability-related reasons companies pursue deals
- Relationship-building reasons companies pursue deals
Chapter 2: Deal Processes and Strategies:
Chapter Benefits:
- Benchmark and control costs at each development phase.
- Measure cost against ROI when making deals.
- Get a detailed overview of the current licensing climate.
- Follow strategic recommendations for every stage of a deal, from partner identification through finalization.
- Identify and learn to overcome common red flags, including financial concerns, intellectual property and capability deficits.
- Know who should be involved during the deal process, how much and at which times.
28 charts focused on the following metrics:
- Costs for development- and commercialization-oriented companies:
- Perceptions of deal costs
- Deal cost by phase
- Changes in cost of in-licensing (according to commercialization- oriented companies)
- Functional involvement at development- and commercialization-oriented companies
- Factors affecting departmental involvement
- Strategic groups involved in outbound and inbound deals
- Marketing and sales groups involved in outbound and inbound deals
- Clinical and medical groups involved in outbound and inbound deals
- Supporting groups involved in outbound and inbound deals
- Structure of deal identification efforts
- Structure of due diligence efforts
- Tools used by development-oriented companies to evaluate a deal’s potential profitability
- Tools used by commercialization-oriented companies to evaluate a deal’s potential profitability
- Structure of deal negotiation and finalization efforts
Chapter 3: Managing the Deal:
Chapter Benefits:
- Learn the traits of a successful deal versus an unsuccessful one while managing expectations.
- Follow strategies for cultivating transparent, honest communication between partners.
- Improve decision-making and post-deal management through structure.
- Use alliance management teams to continually promote and monitor alliance health, measure ROI and build relationships between partner companies.
- Follow best practices for preventing conflicts and learn to resolve problems at the right level.
- Minimize the effects of turnover
- Plan proactively for the end of the deal, an aspect of partnership that no one likes to address.
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