The New Norm
Co-commercialization or co-promotion agreements have become the norm in the life sciences industry, with many biotech and pharmaceutical companies teaming up to share in development and commercialization of new products. These alliance and partnership agreements come in all shapes and sizes, but in our experience, one thing remains constant – they can be challenging.
These challenges come in many different flavors, and can include misalignment about market potential, failure to establish clear decision-and-dispute processes, and de-prioritizing trust and teamwork norms through less-than-ideal communication. A strong alliance needs clear vision, aligned analysis, process and communications, and most importantly, ongoing commitment and trust.
Checklist – Alliance Success Factors
- Do you have a shared market landscape that includes a patient journey map?
- Do you have a clear and comprehensive team charter that provides a detailed review of governance systems?
- Do you have a way to drive alignment through communication, process and share goals?
- Do you have a shared go-to-market plan with valuations, forecasts and verified assumptions?
- Do you have trust and confidence in your partner? Do you have the right team culture?