Biopharma Business Development: Understanding the Two Sides of the Same Coin Leading to the Development and Commercialization of Novel Pharmaceutical Innovations

Michael York
University of California San Diego, US.

DOI:https://doi.org/10.5912/jcb1443

Abstract:

Biopharma business development is a critical strategic function that engages two symbiotic sides of the coin- “buy” and “sell.”   Business development reflects a dynamic capability allowing for strategic renewal, competitive advantage, and growth. Such efforts combine novel assets with capitalization and capabilities to create new value through clinical development, go-to-market and realizing the commercial potential of novel technologies against unmet medical needs in promising markets. Those working in business development will engage in a mix of functions, activities, and decisions to optimize the efforts for search, due diligence, the case for investment, and negotiation. Some are unique to each of the “buy” and “sell” sides; both will share others. The essential process will fulfill the “8 Ps’” requirements and enable the passing through of vetting mechanisms such as Boni’s “quick screen” and Timmons’ triad, thereby allowing new assets to fulfill the needs of various health care stakeholders within biopharma and the health care value chain itself.