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Achieving Realistic Project Timelines through Strategic Partnerships and Alliances - Nancy Widener
 

Achieving Realistic Project Timelines through Strategic Partnerships and Alliances - Nancy Widener

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Achieving Realistic Project Timelines through Strategic Partnerships and Alliances - Presentation by Nancy Widener, Speaker at the 2014 Evolution Summit held in Palm Beach FL May 7-9.

Achieving Realistic Project Timelines through Strategic Partnerships and Alliances - Presentation by Nancy Widener, Speaker at the 2014 Evolution Summit held in Palm Beach FL May 7-9.

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    Achieving Realistic Project Timelines through Strategic Partnerships and Alliances - Nancy Widener Achieving Realistic Project Timelines through Strategic Partnerships and Alliances - Nancy Widener Presentation Transcript

    • Achieving Realistic TimelinesAchieving Realistic Timelines through Strategic Partnerships and Alliancesand Alliances Nancy Widener May 2014May 2014
    • Content What is a Strategic Partnership? h ll ?What is an Alliance? What is meant by “Realistic” project timelines? How can Partnerships/Alliances enable on time  or accelerated drug development?g p 2
    • Strategic Partnership Our mission is to maximize the utilization of resources, core capabilities and brain power across  our companies to enable the best outcome.  A strategic partnership is a formal alliance between two commercial enterprises,  usually formalized by one or more business contracts but falls short of forming a legal  partnership or, agency, or corporate affiliate relationship. Typically two companies form a strategic partnership when each possesses one or  more business assets that will help the other, but that each respective other does not  wish to develop internally. Firms taking advantage of strategic partnerships can utilizewish to develop internally. Firms taking advantage of strategic partnerships can utilize  other company's strengths to make both firms stronger in the long run. Strategic partnership is a long‐term, win‐win commitment between two organizations.  Their sole purpose is achieving specific business objectives by maximizing the  ff ti f h ti i t F t t i t hi t k theffectiveness of each participants resources. For a strategic partnership to work, there  should be trust between the parties involved.  Wikipedia 3
    • Alliance Our mission is to maximize the utilization of resources, core capabilities and brain power across  our companies to enable the best outcome.  An alliance is a pact, coalition or friendship between two or more parties, made in  order to advance common goals and to secure common interests. The purpose of an alliance is to achieve joint strategic goals, reduce risk while  increasing rewards and/or leverage resources Wikipedia 4
    • Realistic Timelines Real Not Real Clearly articulate potential needs. Share portfolio and development plans. Share business development strategy Limited Communication prior to actual need • Hesitant to air “dirty laundry” Understand each others capabilities and strengths. Provide updates when direction changes Understand each others challenges • Limited or no investment to understand sweet spot • Leverage the wrong capabilities Understand each others challenges, constraints and limitations Know what a Win/Win looks like • Focusing on absolute price rather than value Build plans together (strategy and execution) 5TRUST • Disappointment/Frustration/No Trust
    • Examples • Adaptive Design – Late to partyp y – Who is in the “know” – Teach us – Do one/many • Asset Acquisitionq – No internal expertise – Who is in the “know” – Teach us – Do one/many 6
    • Examples • Discontinued Assets – Need a CSRNeed a CSR – Risk is low • Pediatrics• Pediatrics – limited internal expertise/resources R i d– Required • Taste Studies – Limited supliers/Niche – Required 7
    • Examples • Technology – Not a core capabilityNot a core capability • Internal Alliance/Partnership/Cooperation D f l ti– Drug formulation – Dosing on the “fly” P i– Patients – Friendly regulatory environment 8
    • Questions? • Thank you h l b f l!• This place is beautiful! 9