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Strategic Partnering
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Strategic Partnering
= Strategic Synergy
Joanne F. Gucwa jogucwa@techmanage.com
Coupling information technology with biotechnology
results in bioinformatics, a discipline that enables the conversion of huge
amounts of genomic data into practical pathways for drug discovery...synergy
because it produces something that neither technology could accomplish easily
by themselves.
So too, forming alliances with strategic partners ? partners that can help
you reach your business goals ? can produce business value that exceeds
the value of the individual parties (strategic synergy). Here are just some
of the reasons to consider strategic partnering.
ACCESS TO SKILLED PEOPLE
Even the largest companies, such as Pfizer, partner
with smaller firms to conduct very targeted R&D. This minimizes the costs
and risks of the big company trying to develop a similar level of expertise
themselves.
FUNDING
Larger companies support smaller firms by
contracting with them to conduct R&D. Sometimes funding comes from financial
sources such as venture capitalists, angels or even government or private grants.This
funding has numerous advantages for smaller firms, including: Skilled job creation and keeping skilled workers
Increased economic value to the local community
Generating "intellectual capital" to
benefit society
MANAGEMENT AND BUSINESS EXPERTISE
Sometimes larger companies take an equity position in the smaller
companies, bringing the smaller entities not only funding, but access to
management and other expertise.
INCREASED COMPETITIVENESS
Focusing on core competencies and outsourcing activities that others
excel at releases funds for marketing and reduces costs. For example,
Roche outsources some of its manufacturing to contractors.
Process Firms Must Deconstruct For Supply Nets
MARKET ACCESS
Many biotech products are co-developed,
with the smaller company
often providing R&D and the larger one market access through their
well-established sales forces. Others develop co-promotional licensing
strategies, such as Amgen and Kirin. (Pg. 27 of pdf file below)
Finding a manufacturing partner in a foreign country is another means of
accessing a biotech market.
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