Entries in biopharma partnering (3)

Wednesday
Aug302017

Outsourced Service Providers—or an Ecosystem of Strategic Partners?

Our recent article in Pharmaceutical Outsourcing explains how to build the mindset, skillset, and toolset to collaborate with providers—and maximize the performance of your biopharma ecosystem

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Wednesday
Nov142012

Be a Leader Not a Follower: Findings from the 2012 Practice of Alliance Management in the Biopharmaceutical Industry Study

A sneak peek at the the results of the 2012 Practice of Alliance Management in the Biopharmaceutical Industry is being unveiled at the ASAP Biopharma Conference, November 15 and 16 in Cambridge, MA.

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Thursday
Dec162010

Collaborate or Die Revisited

I just finished reading the IBM Institute for Business Value’s latest report on Collaborative Innovation: Partnering for Success in Life Sciences. What was great to read was that “the seven pharmaceutical companies that biotech firms have most wanted to work with over the past four years are also those with the strongest financial records.” The report goes on to point out that these pharmaceutical companies achieved recognition as partners of choice due to their biopartnering ability. For those of us unfamiliar with the term biopartnering, IBM defines it as “the sourcing, formation and management of collaborations.”

It’s been over a decade since JD Edwards’s (now part of Oracle) messaging proclaimed — Collaborate or Die! Now, IBM’s study has put some life into it by noting that these “top seven companies have enjoyed higher sales growth and earned returns on invested capital that were, on average, 70 percent higher than the least desirable partner companies.”

Both JD Edwards and IBM reached the same conclusion – The most successful companies are the best collaborators!

But, what is it that these companies do so well? And what role does alliance management play in helping these companies be so successful? Coincidently, at the same time IBM was conducting its study The Rhythm of Business was conducting a research study into The Practice of Alliance Management in the Biopharmaceutical Industry. The report is based on survey and interview data from 47 biopharmaceutical companies, including all seven companies identified by IBM as “most desirable” in its studies since 2006. 

After reading IBM’s current study we looked at how their current five most desirables responded to our survey relative to the other 42 companies and we noticed a significant difference in three key areas:

  1. Driving the ability to collaborate throughout the organization through coaching and educational offerings not just for alliance team members but for all employees working with alliance partners
  2. Getting involved early in the alliance formation process
  3. Taking the lead in a greater range of important alliance activities

Clearly, alliance managers in these companies are ensuring that their organizations’ collaborative ability is aligned with their portfolio of relationships so that they have the appropriate management and support. The IBM report and our study demonstrate the increasing importance of achieving this balance - for both the success of alliance management and the financial performance of their companies.