From the course: Business Development Foundations: Alliances & Partnerships
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Case study: How to build a pharmaceutical alliance
From the course: Business Development Foundations: Alliances & Partnerships
Case study: How to build a pharmaceutical alliance
- In the world of pharmaceuticals, business development is fundamental. It's estimated that between 30 and 50% of all innovation in pharmaceuticals comes from outside the organization through alliances. It's a way of accessing external innovation instead of just relying on internal development. Even as recently as 20 years ago, this wasn't the case, but this approach to build relationships across organizations has become increasingly popular and, today, is really core to most pharmaceutical companies. Larger companies struggle to have enough internal innovation, so when they find a small company that has developed something novel in one of their core markets, the bigger company will partner with or even acquire the smaller innovator. Pfizer, one of the world's leading biopharmaceutical companies, calls their business development function "business innovation" to emphasize the role of innovation in their deals.…
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