This document helps pharmaceutical companies identify alliance opportunities that minimize problems in transition and maximize long-term benefits. Since top companies view alliances as long term relationships, it is important to cultivate and maintain these realtionships as strongly as possible. There are many obstacles, such as competition. Pharmaceutical companies will learn from this document how to leverage existing relationships, to gain a competitive advantage in product acquisition when new product alliance opportunities arise. This 7-page report details how successful alliances are formed and maintained.
Sample Best Practices
- Seeking Alliances
- Indentify "Win-Win" Alliance Opportunities
- Communicate Effectively to Maintain a Good Relationship
- Strengthen alliances through building relationships with potential partners
* At one benchmark partner, the new product development group uses a database of research being conducted throughout the world to identify potential alliance partners.
- Set clear objectives to improve long-term development of partnership relationships
* One studied company highlighted “mutual goals” as a key success factor in its product partnerships.
- Bundle strategic alliance opportunities to support efficiency.
* Another studied benchmark company, for example, seeks to identify at least two licensing opportunities within a therapeutic area.
The insights and best practices showcased in this report are distilled from lessons learned in interviews with executives and specialists who have extensive experience in designing and managing new product planning and strategic alliance departments at a range of pharmaceutical companies. This document originated from a Best Practices, LLC consulting project.