What are bioscience platform companies? And how do they eventually develop into fully-fledged product businesses? Most industry participants, commentators and investors recognize and understand start-up biotech companies at one extreme, and fully-fledged pharmaceutical and medical device product companies at the other. However bioscience platform companies are neither. They can be very healthy businesses, yet bereft of product revenues or even profits for many years. And for much of their lifecycle, they can be very difficult for investors to pin a precise valuation on.Continue reading “Bioscience Platform Companies and their Lifecycle”
Managers at all levels are increasingly involved in strategy development and execution. With this audience in mind, this article aims to demystify a few common misconceptions and clarify some essential truths about Strategy.
Most Pharma companies focus their R&D activities by therapeutic area. But in the New Pharma world of Payers as Customers, does this continue to make sense? In this article, we will look at the history and evolution of therepautic area focus in R&D, highlight today’s new requirements and suggest a pragmatic approach for focusing R&D to create tomorrow’s transformative medicines.
Continue reading “BioPharma R&D Focus Paradigms when Payers are the Customers”
“Stretching” a brand into new products and services is a well known strategy for generating new revenues. The idea is to exploit customer brand loyalty with new offerings while retaining or even enhancing the original brand values. However it’s not always quite this straightforward, as illustrated with this cautionary Tale from a British Post Office counter …
Initiatives to cultivate innovation are rapidly proliferating. From my regular dialogue with Marketing and R&D executives of science/technology-based organizations, I notice many initiatives are built on at least one of these underlying assumptions:
- Innovation can be Outsourced
- Ideation = Innovation
- Technological Novelty = Innovation
Per se, these assumptions are perfectly good starting points – the mistake is to believe that’s all you have to focus on.
Continue reading “Common Misconceptions in Strategic Innovation Initiatives”
Throughout the past two decades, biomedical companies have learnt painfully that industrialized management of R&D does not deliver. Using illustrations from the pharmaceutical sector, this article looks back on the principal approaches that were adopted to transform R&D productivity over this period. We reflect on what has definitely not worked well, and in consequence, we discuss how the emphasis is now shifting back to people, relying on human ingenuity and teamwork to innovate – through focus and an open architecture. We conclude by identifying the key success factors and the new challenges that R&D leaders need to manage.Continue reading “Two Decades of Biomedical R&D Improvement Initiatives”