RESEARCH TRIANGLE PARK, NC--(Marketwire - June 6, 2008) - A new study by pharmaceutical
leader Cutting Edge Information finds that pharmaceutical business
development groups often struggle to win buy-in from senior management.
Success can mean the difference between winning a key deal or losing out to
competitors.
The report, "Business Development: Accelerating the Deal"
(
www.PharmaDealMaking.com), examines business development (BD) structures,
resource levels and strategies of BD groups. It also explores BD processes
and strategies at stages throughout the deal-making process: identifying
and evaluating deal opportunities, completing due diligence, negotiating
terms and finalizing the deal.
On a scale from 1 to 10 (10 indicating most difficult) companies ranked
earning senior executive leadership's support as a 6.3 and negotiating a
deal, 6.1. Other challenges companies face include maintaining alliance
management (6.0), completing due diligence (5.0), and establishing
partnership relationships (5.7).
"How firms respond to these obstacles is critically important," said Eric
Bolesh, lead author of the report. "Business development teams that can
pull together significant internal support for a deal, including senior
leaders and other important stakeholders, stand a far better chance of
inking a contract."
The 174-page report covers every aspect of BD management. It enables
companies to build a first-rate BD function and to facilitate the steps
leading toward closing a deal. Developed from surveys and interviews with
executives at leading pharmaceutical and biotechnology companies, the
report shows BD teams how to overcome challenges, align partnership
objectives, improve relationship-building, and drive the deal to
completion.
The report contains more than 400 metrics and benchmarks, including the
following:
-- Business development team headcounts
-- Business development team budgets
-- Cross-functional involvement in evaluation of new deals
-- Deal-making process timelines
-- Stages of development and marketing during which companies close
inbound and outbound deals
-- Royalty levels
-- Business development reporting structures
-- Deal warning signs
-- Best practices for each stage of the deal-making process
A summary of the report is available for immediate download here:
http://www.cuttingedgeinfo.com/pharmadealmaking/PH118_Download.asp#body.
Contact Information: CONTACT INFORMATION:
Eric Bolesh
919-433-0209