The Life Sciences industry has been challenged over the last decade with increasing regulation, higher costs of development (a new chemical entity often costs over a $Billion to bring to market), and declining rates of innovation.
As it’s harder to be successful on their own, the concept of a Fully Integrated Pharmaceutical COmpany (FIPCO) has now become an ecosystem of solid-line and dotted-line collaborating companies, many of which provide processes, data-management, and other services rather than hardgoods / products. Extracting real value and increasing innovation, speed to target, and improved reputation and quality go well beyond the procurement function today.
This conversation with Michael explores an expertise he is helping to evolve in the Alliance Management community.
With over 25 years in commercial roles at some of the most successful pharma, biotech, and CRO companies, the last 8 of which have been invested in collaboration management, Michael speaks from experience and looks ahead at what opportunities are forming for alliance professionals.
His consulting practice, biomedwoRx: Life Sciences Consulting LLC is focused on global commercialization and collaboration management for successful partnerships. His practice is based in San Diego, CA — the SoCal life sciences hub for innovation and convergence with the wireless industry known as “Biotech Beach”.
Listen in as Michael and I discuss these topics as well as some key focus imperatives for all alliances.
Books mentioned in this episode:
- Strategic Alliances: Three Ways to Make Them Work (Memo to the CEO)
- The 4 Disciplines of Execution: Achieving Your Wildly Important Goals
- 212 the extra degree
Connect with Michael W. Young:
Subscribe to the Collaborative Business Podcast
Previously on The Collaborative Business Podcast:
- CBP-70: The final episode
- CBP-69: Alliances as a force multiplier – with Suniel Mande
- CBP-68: Alliance Networks with Andrew Shipilov
- CBP-67: Alliance Analytics with Bill Davidson
- CBP-66: Alliances in SAS with Pat Finerty