Challenge
The challenges in the BD process include finding the assets that you want, convincing the potential partner that you are right for their asset and making an appropriate offer that is accepted by both the partner’s, and your company’s, Board. To streamline efforts and optimise in-license success it was imperative for this European Pharma Company to update and have a detailed and credible TPP.
Action
We needed to understand the company’s “sweet spot” and so reviewed their existing portfolio and also their external communications via various media. We worked with a range of internal stakeholders to understand some key factors including therapy areas, stage of development, geographical needs, investment limits and the company’s appetite for risk.
Result
It became clear that there needed to be two TPPs – one for products in existing therapy areas and another for a new, targeted therapy area as there was no existing infrastructure or platform to work off. The TPPs that the team and we developed increased the chances of internal acceptance (we did keep a stretch in there!) but also external buy-in.
Next Steps
At BD congresses the assets targeted have become fewer and better focused whilst the research done on them has increased in depth. The rate of progression from funnel through to the BD process has increased. Early analysis is of less “busyness” but a greater chance of “business” – a deal. With a clear picture in place the next step will be to undertake activities to drive more inbound BD.
Interested in making your BD process more efficient? Drop us a line – info@hawkpharmaconsulting.com