PROGRAMME - Partnerships in Pharma

CHAIRMAN'S INTRODUCTION

Iain Scott, Senior Editor, Economist Intelligence Unit

PARTNERING: Unraveling the secrets of success
Research from McKinsey has shown that only half of all joint ventures yield returns to each partner above the cost of capital, meaning there are as many successes as failures. Which partnerships have done better than others, and what type of firm tends to succeed in its partnering strategy?

Navjot Singh, Leader, Pharmaceuticals and Medicals practice, McKinsey & Co

FLEXIBILITY AND RISK-TAKING: The DNA of successful partnering 
Partnering with other biotechnology and pharmaceutical companies helps Merck Serono bring therapeutic innovations to patients more quickly; however it requires flexibility in deal-making and a willingness to take risks. We look at some of their recent strategic alliances, collaborations and licensing agreements, assessing how effective they have been in allowing the firm to research, develop and commercialise new treatments.

Philippe Lopes-Fernandes, Head of Global Business Development and Alliances Management, Merck Serono

PARADIGM SHIFT: Partnerships in an era of proliferating business models
Partnerships have evolved far beyond standard, off-the-peg agreements; nowadays they come in a multitude of forms, necessitating a creative and open-minded approach to risk, profit and IP-sharing. How has Pfizer adapted its business strategy in line with this complex shift? How are these new creative partnerships being justified, internally and externally?

James Eshelby, Senior Director, R&D Business Development, Pfizer

Strategic partnering to improve R&D productivity
As new models for drug development emerge alongside an evolving CRO industry, to what extent can a move from highly transactional CRO/Sponsor relationships to trust-based, innovative partnerships create R&D productivity gains for the biopharmaceutical industry? We examine CRO/Sponsor partnership models across the drug development continuum, reviewing the first year of the landmark Lilly/Covance Strategic Alliance.

John Watson, Corporate Vice-president and President of Strategic Partnering and Integrated Drug Development, Covance

EQUITY IN PARTNERING: Best practices for biotech and pharma in negotiating equity
Share purchases can form part, or all of, the upfront payment when doing partnering deals; but when do equity stakes make sense, and when not? What influence should Pharma expect through owning shares? What is the impact of equity dilution on the biotech?  Should Pharma pay a premium?  We discuss the expectations (and concerns) of both parties, assess how the sale of shares should be managed, and reveal best practices for making an equity investment a success.

Carole Nuechterlein, Head of Venture Fund, Roche

A SMORGASBORD OF DEAL MAKING: The ever increasing importance of partnership along the pharma value chain
Pharma's need to access external, as well as internal, innovation continues to grow, with industry seeking to identify opportunities at every stage of the R&D-to-commercialisation value chain. Sponsored research, pre-clinical collaborations, early and late stage clinical and preregistration, and on-market deals will all be discussed.

Shaun Grady, Vice-president Strategic Partnering and Business Development, AstraZeneca

PARTNERING IN AN ERA OF OPEN INNOVATION: Industry and academia
In January 2010, the UK government announced plans for a Life Sciences Super Cluster, bringing together academia, industry, and the NHS to work on early clinical development of new drugs and medicines. We report on the pilot cluster, and discuss the likely future effectiveness of the scheme.

Richard Barker, Director General, Association of the British Pharmaceutical Industry

LEVERAGING THE BEST OF TWO COMPANIES FOR STRATEGIC GAIN: Ipsen/Inspiration case study
A great partnership is one that provides both parties, as well as the patients they serve, with long lasting value. In early 2010 Ipsen and Inspiration Biopharmaceuticals announced a partnership to create a world leading hemophilia franchise, with the goal of achieving $1 billion in portfolio revenues inside ten years. We look under the bonnet of this transaction, examining the deal rationale and process, assessing the value likely to be driven by the relationship and the governance needed to ensure success.

Sean McKercher, Vice-president Corporate Business Development, Ipsen

A SIGN OF THINGS TO COME? ViiV Healthcare case study
GlaxoSmithKline and Pfizer recently structured an innovative agreement to create ViiV Healthcare, combining the two firms’ complementary strengths and capabilities to set up a company focused solely on the research, development and commercialisation of HIV medicines. We talk to the CEO of ViiV Healthcare about the collaboration; with the new entity up and running, how is the tie-up working for his two shareholders? To what extent does this collaboration allow for value and efficiency creation?

Dominique Limet, Chief Executive Officer, Viiv Healthcare

PARTNERSHIPS AT NYCOMED: A case study
Nycomed, one of the world’s leading biopharma companies, has built a flexible business model around partnering in order to be able to focus on its core skills. We'll hear about the role of partnerships in filling Nycomed's R&D pipeline, creating regionally adapted portfolios and extending their geographical reach. We'll also hear how the organisation has had to adapt in order to integrate its new partners.

Kerstin Valinder, Executive Vice-president Business Development, Nycomed

CHAIRMAN'S SUMMARY

Iain Scott, Senior Editor, Economist Intelligence Unit