Fostering Cross-Functional Portfolio Management

While top-performing pharmaceutical companies recognize that innovative drug discovery depends upon a deep understanding of market needs and the research skill of top scientists working with state-of-the-art technologies, most companies commonly struggle with the decision to commit resources to a product that may or may not make it past the next phase. Pharmaceutical companies can benefit from this document’s findings on how to effectively create a marketplace focus throughout the development phase. This 14-page document discusses the use of cross-functional evaluation teams as a key factor in speeding up the product evaluation process.

Key Topics

• The Importance of Cross-Functional Teams
• Employing Cross-Functional Teams to Guide Product Development

• Create “checklists” to improve long-term results of business development.
  * A formalized process has been key one benchmark partner’s success as a research and marketing partner.
• Involve new product planning personnel throughout the development process to maintain consistent support.
  * Another studied company involves its New Product Development personnel from day one of the product development process.
• Identify critical success factors regarding licensing or co-promotions when interacting with internal departments
  * One company finds that hurdles to successful licensing and co-promotions are often found within the company.
  

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