Compiled By Tonya Vinas Pharmaceutical/biotechnology partnerships, though poorly understood, will continue to be a vital asset for large drug companies, according to researchers at Cutting Edge Information, a business research company. Cutting Edge, ...
Compiled ByTonya Vinas Pharmaceutical/biotechnology partnerships, though poorly understood, will continue to be a vital asset for large drug companies, according to researchers at Cutting Edge Information, a business research company. Cutting Edge, Durham, N.C., recently released the report "Building Pharmaceutical-Biotechnology Partnerships," which features best practices covering 40 deals at pharmaceutical and biotech companies. The report's featured companies include GlaxoSmithKline PLC, Amgen Inc., Bristol-Myers Squibb Co. and Genentech, among others. According to Cutting Edge, the top 10 pharmaceutical companies accounted for 59% of total pharmaceutical sales in 2001, mainly based on "blockbuster" drugs. Of the top 10 blockbuster drugs, 30% of total sales, close to US$12 billion, resulted from alliances between pharmaceutical and biotechnology companies. Cutting Edge's full report costs $4,995, but the company lists a summary of "Five Principles for Success" on its Web site:
Select partners with the right technology and culture fit.
Cultivate internal champions to secure partnership growth potential.
Maintain commercial momentum with clear commitment to the shared product.
Incorporate partnership into long-term corporate growth strategy.
Become a "partner of choice" by building partnership skills into a competitive advantage.
The Cutting Edge Web site also lists several excerpts from the report.