First in a series to challenge the profession to “think differently,” we describe a mindset – a way of thinking about the role of the alliance manager that transcends “best practices.” For those new at alliance management – and executives who need to understand what it is all about – it provides an introduction to the discipline. For experienced alliance professionals, it provides a way of shaping and framing their core value to their company and partners as biopharmaceutical companies increasingly partner “beyond the pill.”
Based on our experiences over more than 15 years with over 50 life science firms of all sizes, expertise, and maturity with partnering and alliances, we introduce:
Three principles to guide the management of alliances
Four building blocks to manage risk and realize value within an organization’s unique context
Three skills to master
With this foundation, the alliance professional can move beyond “best practices” and lead his or her company through the complexities and challenges of partnering to deliver value to patients as well as to the company and its partners.
Make no mistake about it: this era of connected ecosystems is built on partnering, thus everyone needs some alliance and partnering skills. But not everyone is tasked with managing the incremental risks of partnering and realizing the intended return on investment. Biopharmaceutical alliance professionals must develop the muscle to lead their companies to success. Doing so requires thinking bigger, thinking differently.