3 Causes Why Pharmaceutical Providers Need to have Specialty Administration Consulting Corporations

The pharmaceutical market is going through an amazing offer https://www.mottmac.com/international-development transform. Firms such as Pfizer and Lilly are dealing with significant products patent expirations. Plus, organization pipelines are insufficient to interchange the revenues dropped to patent expirations. Finally, EU-based and US-based businesses and US are shifting their companies towards higher-growth marketplaces in China, India, and other Emerging Markets, developing inner organizational turmoil within their dwelling marketplaces.

As several organizations realize, it's decreasingly possible to easily "research" your way from these challenges. A part of the answer to these challenges is creating and executing what we broadly confer with for a Small business Progress and Licensing system (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 organizations have an BD&L group, usually led by a member with the senior management team. Larger corporations will have a team of a dozen or more executives, directors, and managers responsible for sourcing, analyzing, and recommending small business enhancement opportunities. Even smaller corporations will have one or two individuals formally charged with the BD&L process.

So why should pharmaceutical corporations, even large ones with large BD&L teams, use consulting companies to assist them? We believe there are 3 causes why this is the case:

Improvement of an Overarching Framework - Numerous pharmaceutical and biotechnology corporations should be applauded for having a strategic and focused BD&L framework. Numerous providers know exactly what they are looking for, i.e., asset type, stage of development, 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 a lot of companies which do not take a framework-driven approach. Several searches are haphazard, where providers 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 organization, 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 several 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 firms was to license drugs from Japanese organizations, because lots of innovative Japanese firms lacked the global presence to develop and market their innovations outside their household country.

Today, this is no longer the case. Several Japanese companies, including Takeda and Eisai, have successfully established a investigation and commercial presence in the US and EU. Organizations like this no longer require Western pharmaceutical providers to commercialize their internally-developed innovations. So Western pharmaceutical providers are now traveling to and meeting with corporations in China, India, and Eastern Europe...anywhere where a new innovation or opportunity may exist. For larger, global BD&L teams this is less of an issue. IN fact, the largest companies typically have regionally focused BD&L executives who focus on identifying opportunities from their local marketplaces for their local or even global marketplaces.