<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" xmlns:georss="http://www.georss.org/georss" xmlns:geo="http://www.w3.org/2003/01/geo/wgs84_pos#" > <channel> <title>Due Diligence – Lacerta Bio</title> <atom:link href="https://lacertabio.com/category/due-diligence/feed/" rel="self" type="application/rss+xml" /> <link>https://lacertabio.com</link> <description>Lacerta Bio is a business development consultancy specializing in identifying, assessing, negotiating, and closing licensing and partnership opportunities for the pharmaceutical, biotechnology, and drug delivery industries.</description> <lastBuildDate>Wed, 03 Jun 2020 12:24:45 +0000</lastBuildDate> <language>en-US</language> <sy:updatePeriod> hourly </sy:updatePeriod> <sy:updateFrequency> 1 </sy:updateFrequency> <generator>https://wordpress.org/?v=6.7.2</generator> <image> <url>https://lacertabio.com/wp-content/uploads/2019/02/cropped-logo-3-32x32.png</url> <title>Due Diligence – Lacerta Bio</title> <link>https://lacertabio.com</link> <width>32</width> <height>32</height> </image> <site xmlns="com-wordpress:feed-additions:1">16235135</site> <item> <title>A Post-COVID-19 World</title> <link>https://lacertabio.com/a-post-covid-19-world/</link> <comments>https://lacertabio.com/a-post-covid-19-world/#respond</comments> <dc:creator><![CDATA[Carlos]]></dc:creator> <pubDate>Mon, 13 Apr 2020 13:55:21 +0000</pubDate> <category><![CDATA[Conferences]]></category> <category><![CDATA[Drug Development]]></category> <category><![CDATA[Due Diligence]]></category> <category><![CDATA[Pharmaceutical]]></category> <category><![CDATA[COVID-19]]></category> <guid isPermaLink="false">https://lacertabio.com/?p=4662</guid> <description><![CDATA[What will our industry and economy look like in the post-COVID-19 era? First of all, we would never recommend paying too much attention to anyone who knows precisely what the answer to this question is. It’s simply too early and too soon to predict anything. But, as the current crisis subsides, and as testing, therapeutics, […]]]></description> <content:encoded><![CDATA[ <div data-elementor-type="wp-post" data-elementor-id="4662" class="elementor elementor-4662" data-elementor-post-type="post"> <section class="elementor-section elementor-top-section elementor-element elementor-element-96c2c40 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="96c2c40" data-element_type="section" data-settings="{"jet_parallax_layout_list":[{"jet_parallax_layout_image":{"url":"","id":"","size":""},"_id":"06ad04c","jet_parallax_layout_image_tablet":{"url":"","id":"","size":""},"jet_parallax_layout_image_mobile":{"url":"","id":"","size":""},"jet_parallax_layout_speed":{"unit":"%","size":50,"sizes":[]},"jet_parallax_layout_type":"scroll","jet_parallax_layout_z_index":"","jet_parallax_layout_bg_x":50,"jet_parallax_layout_bg_y":50,"jet_parallax_layout_bg_size":"auto","jet_parallax_layout_animation_prop":"transform","jet_parallax_layout_on":["desktop","tablet"],"jet_parallax_layout_direction":null,"jet_parallax_layout_fx_direction":null,"jet_parallax_layout_bg_x_tablet":"","jet_parallax_layout_bg_x_mobile":"","jet_parallax_layout_bg_y_tablet":"","jet_parallax_layout_bg_y_mobile":"","jet_parallax_layout_bg_size_tablet":"","jet_parallax_layout_bg_size_mobile":""}]}"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-70f5254" data-id="70f5254" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-25e10f7 elementor-widget elementor-widget-image" data-id="25e10f7" data-element_type="widget" data-widget_type="image.default"> <div class="elementor-widget-container"> <img fetchpriority="high" decoding="async" width="768" height="768" src="https://lacertabio.com/wp-content/uploads/2020/04/Abandoned-Images-768x768.png" class="attachment-medium_large size-medium_large wp-image-4663" alt="" srcset="https://lacertabio.com/wp-content/uploads/2020/04/Abandoned-Images-768x768.png 768w, https://lacertabio.com/wp-content/uploads/2020/04/Abandoned-Images-300x300.png 300w, https://lacertabio.com/wp-content/uploads/2020/04/Abandoned-Images-1024x1024.png 1024w, https://lacertabio.com/wp-content/uploads/2020/04/Abandoned-Images-150x150.png 150w, https://lacertabio.com/wp-content/uploads/2020/04/Abandoned-Images.png 1080w" sizes="(max-width: 768px) 100vw, 768px" /> </div> </div> </div> </div> </div> </section> <section class="elementor-section elementor-top-section elementor-element elementor-element-2d9c475 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="2d9c475" data-element_type="section" data-settings="{"jet_parallax_layout_list":[{"jet_parallax_layout_image":{"url":"","id":"","size":""},"_id":"51a0f85","jet_parallax_layout_image_tablet":{"url":"","id":"","size":""},"jet_parallax_layout_image_mobile":{"url":"","id":"","size":""},"jet_parallax_layout_speed":{"unit":"%","size":50,"sizes":[]},"jet_parallax_layout_type":"scroll","jet_parallax_layout_z_index":"","jet_parallax_layout_bg_x":50,"jet_parallax_layout_bg_y":50,"jet_parallax_layout_bg_size":"auto","jet_parallax_layout_animation_prop":"transform","jet_parallax_layout_on":["desktop","tablet"],"jet_parallax_layout_direction":null,"jet_parallax_layout_fx_direction":null,"jet_parallax_layout_bg_x_tablet":"","jet_parallax_layout_bg_x_mobile":"","jet_parallax_layout_bg_y_tablet":"","jet_parallax_layout_bg_y_mobile":"","jet_parallax_layout_bg_size_tablet":"","jet_parallax_layout_bg_size_mobile":""}]}"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cab2f0c" data-id="cab2f0c" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-a49f042 elementor-widget elementor-widget-text-editor" data-id="a49f042" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p><span style="color: #000000;">What will our industry and economy look like in the post-COVID-19 era?</span></p><p><span style="color: #000000;">First of all, we would never recommend paying too much attention to anyone who knows precisely what the answer to this question is.</span></p><p><span style="color: #000000;">It’s simply too early and too soon to predict anything.</span></p><p><span style="color: #000000;">But, as the current crisis subsides, and as testing, therapeutics, and vaccines reach the market, the state of our industry will likely be different…reshaped, if you prefer.</span></p><p><span style="color: #000000;">But how will things be different? We came up with a number of ideas, but there will clearly be more as we come out of this pandemic.</span></p> </div> </div> </div> </div> </div> </section> <section class="elementor-section elementor-top-section elementor-element elementor-element-23e8fa5 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="23e8fa5" data-element_type="section" data-settings="{"jet_parallax_layout_list":[{"jet_parallax_layout_image":{"url":"","id":"","size":""},"_id":"0fbdd03","jet_parallax_layout_image_tablet":{"url":"","id":"","size":""},"jet_parallax_layout_image_mobile":{"url":"","id":"","size":""},"jet_parallax_layout_speed":{"unit":"%","size":50,"sizes":[]},"jet_parallax_layout_type":"scroll","jet_parallax_layout_z_index":"","jet_parallax_layout_bg_x":50,"jet_parallax_layout_bg_y":50,"jet_parallax_layout_bg_size":"auto","jet_parallax_layout_animation_prop":"transform","jet_parallax_layout_on":["desktop","tablet"],"jet_parallax_layout_direction":null,"jet_parallax_layout_fx_direction":null,"jet_parallax_layout_bg_x_tablet":"","jet_parallax_layout_bg_x_mobile":"","jet_parallax_layout_bg_y_tablet":"","jet_parallax_layout_bg_y_mobile":"","jet_parallax_layout_bg_size_tablet":"","jet_parallax_layout_bg_size_mobile":""}]}"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fa4c29f" data-id="fa4c29f" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-43658f7 elementor-widget elementor-widget-text-editor" data-id="43658f7" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p><span style="color: #000000;"><em>Supply Chain Domestication</em> – The prevailing wisdom is that 80% of all drugs dispensed in the US come from India or China. Some estimate that up to <a style="color: #000000;" href="https://www.cfr.org/blog/us-dependence-pharmaceutical-products-china"><span style="text-decoration: underline; color: #0000ff;">97% of all antibiotics dispensed in the US originate in Chin</span>a</a>. </span></p><p><span style="color: #000000;">There is no way to confirm this. In fact, we cannot say if “drugs” means API, finished product, or (more likely), some combination thereof. But the recent battle over the importation of <a style="color: #000000;" href="https://www.theguardian.com/world/2020/apr/07/india-releases-hydroxychloroquine-stocks-amid-pressure-from-trump"><span style="text-decoration: underline;"><span style="color: #0000ff; text-decoration: underline;">hydroxychloroquine from Indi</span></span>a</a> into the US highlights part of the problem. </span></p><p><span style="color: #000000;">The suggestion is that countries that depend on China and India for low-cost pharmaceuticals simply need to re-start local production of important medications, like antibiotics, antibacterials, and vaccines. Presumably, this would be done via government contracts awarded to domestic producers, which right away suggests that a $10 vial of antibiotic tablets made in China will cost 10x for “Made in USA” stock. </span></p><p><span style="color: #000000;">One option is to <a style="color: #000000;" href="https://www.forbes.com/sites/theapothecary/2020/03/16/puerto-rico-can-help-the-u-s-end-its-dependence-on-chinese-pharmaceutical-ingredients/#5efcb9f2a403"><span style="text-decoration: underline;"><span style="color: #0000ff; text-decoration: underline;">re-start pharmaceutical manufacturing in Puerto Ric</span></span>o</a>. The islands already have a lengthy history of manufacturing generics, complex formulations, and parenterals. Most of that was economically feasible via tax incentives. While this is something that can be restarted relatively easily, concerns over the current health of the power supply remain valid.</span></p> </div> </div> </div> </div> </div> </section> <section class="elementor-section elementor-top-section elementor-element elementor-element-329ecf6 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="329ecf6" data-element_type="section" data-settings="{"jet_parallax_layout_list":[{"jet_parallax_layout_image":{"url":"","id":"","size":""},"_id":"c6f4660","jet_parallax_layout_image_tablet":{"url":"","id":"","size":""},"jet_parallax_layout_image_mobile":{"url":"","id":"","size":""},"jet_parallax_layout_speed":{"unit":"%","size":50,"sizes":[]},"jet_parallax_layout_type":"scroll","jet_parallax_layout_z_index":"","jet_parallax_layout_bg_x":50,"jet_parallax_layout_bg_y":50,"jet_parallax_layout_bg_size":"auto","jet_parallax_layout_animation_prop":"transform","jet_parallax_layout_on":["desktop","tablet"],"jet_parallax_layout_direction":null,"jet_parallax_layout_fx_direction":null,"jet_parallax_layout_bg_x_tablet":"","jet_parallax_layout_bg_x_mobile":"","jet_parallax_layout_bg_y_tablet":"","jet_parallax_layout_bg_y_mobile":"","jet_parallax_layout_bg_size_tablet":"","jet_parallax_layout_bg_size_mobile":""}]}"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c9eaa4b" data-id="c9eaa4b" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-7f5942f elementor-widget elementor-widget-text-editor" data-id="7f5942f" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p><span style="color: #000000;"><em>Conferences</em> – If you are reading this article, chances are very good that you regularly attend partnering and scientific conferences. Several large conferences in 2020 have either been cancelled outright, or are migrating onto online platforms. </span></p><p><span style="color: #000000;">Social distancing appears to be effective in containing the spread of COVID-19. Hence, it is likely that cancellations and digital conferences will continue through the remainder of 2020. But what about after that? Will companies once again send 10-25 or more people to BIO? Or will the lower costs associated with virtual events be too attractive to give up?</span></p><p><span style="color: #000000;"> <span style="text-decoration: underline; color: #0000ff;"><a style="color: #0000ff; text-decoration: underline;" href="https://lacertabio.com/quiz/virtual-conferences/">We are conducting a survey asking for opinions on virtual conferences</a></span>. One theme that is emerging consistently is that impromptu face to face meetings with friends and colleagues are invaluable. </span></p><p><span style="color: #000000;">The quick introduction and card exchange with the person behind you in the line for food or a drink can lead to a significant interaction later. They are unpredictable, and yet highly valued by most attendees.</span></p><p><span style="color: #000000;"> Partnering conferences are not just for first-time meeting with prospective partners or investors. Major conferences are often used as an opportunity to conduct post-transactional, alliance management meetings, bringing licensor company executives and their licensee counterparts together in one city for a few hours or even an entire day of meetings. .</span></p><p><span style="color: #000000;"> So, what will happen? We think that conferences of the future could be hybrid events, especially the larger ones. In other words, two people meet at a booth at a scheduled time, but the host opens up a laptop (or phone) and “dials in” their colleague (who is also registered for the event at a reduced rate) via video chat embedded in the browser-based partnering system. </span></p><p><span style="color: #000000;">Registration for the video chat would be required for preferential Wi-Fi access and access to the video embedded in the partnering system. Whether some of the conference locations can handle all of this internet traffic is obviously an open question.</span></p> </div> </div> </div> </div> </div> </section> <section class="elementor-section elementor-top-section elementor-element elementor-element-ec988cc elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="ec988cc" data-element_type="section" data-settings="{"jet_parallax_layout_list":[{"jet_parallax_layout_image":{"url":"","id":"","size":""},"_id":"b8a5e2d","jet_parallax_layout_image_tablet":{"url":"","id":"","size":""},"jet_parallax_layout_image_mobile":{"url":"","id":"","size":""},"jet_parallax_layout_speed":{"unit":"%","size":50,"sizes":[]},"jet_parallax_layout_type":"scroll","jet_parallax_layout_z_index":"","jet_parallax_layout_bg_x":50,"jet_parallax_layout_bg_y":50,"jet_parallax_layout_bg_size":"auto","jet_parallax_layout_animation_prop":"transform","jet_parallax_layout_on":["desktop","tablet"],"jet_parallax_layout_direction":null,"jet_parallax_layout_fx_direction":null,"jet_parallax_layout_bg_x_tablet":"","jet_parallax_layout_bg_x_mobile":"","jet_parallax_layout_bg_y_tablet":"","jet_parallax_layout_bg_y_mobile":"","jet_parallax_layout_bg_size_tablet":"","jet_parallax_layout_bg_size_mobile":""}]}"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-36205df" data-id="36205df" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-cc74ff7 elementor-widget elementor-widget-text-editor" data-id="cc74ff7" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p><span style="color: #000000;"><em>The Future of Work</em> – Well, it’s basically here now. COVID-19 has shifted nearly all office workers around the world from traditional offices to work-at-home (WAH) situations. Suddenly, multiple video conferences from makeshift home offices have become the norm. </span></p><p><span style="color: #000000;"><span style="text-decoration: underline; color: #0000ff;"><a style="color: #0000ff; text-decoration: underline;" href="https://lacertabio.com/the-show-must-go-on/">We have written about this trend already</a></span>, and will not repeat what was already said. As long as we need laboratories and manufacturing facilities, pharma will never follow a fully distributed work/business model like <span style="text-decoration: underline; color: #0000ff;"><a style="color: #0000ff; text-decoration: underline;" href="https://en.wikipedia.org/wiki/Automattic">Automattic</a></span> with its 1100+ employees all working from home. </span></p><p><span style="color: #000000;">But it is quite easy to envision a day when attitudes shift from command and control (“You must be in the office.”) to distributed workflows. Security is always a concern with distributed work models. But other companies manage to deal with it. </span></p><p><span style="color: #000000;">Can pharma? And, will employees even want to return to the office? Will pharma turn their current offices into “hot desks” for employees to come and go as needed?</span></p> </div> </div> </div> </div> </div> </section> <section class="elementor-section elementor-top-section elementor-element elementor-element-3d7e5cf elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="3d7e5cf" data-element_type="section" data-settings="{"jet_parallax_layout_list":[{"jet_parallax_layout_image":{"url":"","id":"","size":""},"_id":"daac348","jet_parallax_layout_image_tablet":{"url":"","id":"","size":""},"jet_parallax_layout_image_mobile":{"url":"","id":"","size":""},"jet_parallax_layout_speed":{"unit":"%","size":50,"sizes":[]},"jet_parallax_layout_type":"scroll","jet_parallax_layout_z_index":"","jet_parallax_layout_bg_x":50,"jet_parallax_layout_bg_y":50,"jet_parallax_layout_bg_size":"auto","jet_parallax_layout_animation_prop":"transform","jet_parallax_layout_on":["desktop","tablet"],"jet_parallax_layout_direction":null,"jet_parallax_layout_fx_direction":null,"jet_parallax_layout_bg_x_tablet":"","jet_parallax_layout_bg_x_mobile":"","jet_parallax_layout_bg_y_tablet":"","jet_parallax_layout_bg_y_mobile":"","jet_parallax_layout_bg_size_tablet":"","jet_parallax_layout_bg_size_mobile":""}]}"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9bcd613" data-id="9bcd613" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-c8dfbc6 elementor-widget elementor-widget-text-editor" data-id="c8dfbc6" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p><span style="color: #000000;"><em>Macroeconomic Environment</em> – Business school professors of the future will publish truckloads of books and case studies discussing macroeconomics in a post-pandemic world. And, as we are not macroeconomists, we will not contribute to the truckload. </span></p><p><span style="color: #000000;">However, we cannot ignore the fact that for the first time in history, most governments around the world have asked their citizens to stop working and stay home, bringing economies to a standstill. </span></p><p><span style="color: #000000;">How will countries respond? Will we witness a post-World War I-like situation, where countries retreated economically and fueled isolationist tendencies? Or, will it be more like the post-World War II era, where international cooperation (cf., Europe) was the path towards perpetual economic growth and peace?</span></p><p><span style="color: #000000;"> Based on our readings (of both articles and tea leaves), we believe we are heading towards an era of isolationism (cf., supply chain domestication discussed earlier). </span></p><p><span style="color: #000000;">We are already seeing this in Europe, where individual countries are defying European rules by closing borders and fending for themselves (more on Europe later). We were already seeing these tendencies with the “MAGA” and similar populist movements in the US and elsewhere. Will COVID-19 fuel and accelerate isolationism? And, for our industry, how will this impact drug prices? Cross-border research? </span></p> </div> </div> </div> </div> </div> </section> <section class="elementor-section elementor-top-section elementor-element elementor-element-a3a4de9 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="a3a4de9" data-element_type="section" data-settings="{"jet_parallax_layout_list":[{"jet_parallax_layout_image":{"url":"","id":"","size":""},"_id":"553c247","jet_parallax_layout_image_tablet":{"url":"","id":"","size":""},"jet_parallax_layout_image_mobile":{"url":"","id":"","size":""},"jet_parallax_layout_speed":{"unit":"%","size":50,"sizes":[]},"jet_parallax_layout_type":"scroll","jet_parallax_layout_z_index":"","jet_parallax_layout_bg_x":50,"jet_parallax_layout_bg_y":50,"jet_parallax_layout_bg_size":"auto","jet_parallax_layout_animation_prop":"transform","jet_parallax_layout_on":["desktop","tablet"],"jet_parallax_layout_direction":null,"jet_parallax_layout_fx_direction":null,"jet_parallax_layout_bg_x_tablet":"","jet_parallax_layout_bg_x_mobile":"","jet_parallax_layout_bg_y_tablet":"","jet_parallax_layout_bg_y_mobile":"","jet_parallax_layout_bg_size_tablet":"","jet_parallax_layout_bg_size_mobile":""}]}"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0473989" data-id="0473989" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-7c331f9 elementor-widget elementor-widget-text-editor" data-id="7c331f9" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p><span style="color: #000000;"><em>Deals and Deal Flow</em> – Let us assume for a moment that “Big Pharma” will continue to demand and access external innovation to survive. There will be a continued demand for licensing opportunities in the usual areas post-pandemic, like oncology and rare diseases. Hence, the scouting side will still be active (although pricing pressures may change this; more later).</span></p><p><span style="color: #000000;"> What we find slightly worrying is the continued decline in new biotech company formation. As</span> <span style="text-decoration: underline; color: #0000ff;"><a style="color: #0000ff; text-decoration: underline;" href="https://lifescivc.com/2020/04/booming-vc-backed-biopharma-strong-market-despite-pandemic/">discussed in a recent blog post</a></span><span style="color: #000000;">, this trend existed long before the current pandemic. Meantime, round sizes are increasing, suggesting more capital is being poured into fewer companies. </span></p><p><span style="color: #000000;">But as gains in public markets evaporate, will future limited partnerships shift their allocations away from life science venture capital into other sectors? Will this make it even more difficult for new company formation? </span></p><p><span style="color: #000000;">Will</span> <span style="text-decoration: underline; color: #0000ff;"><a style="color: #0000ff; text-decoration: underline;" href="https://www.lifescienceleader.com/doc/new-fda-guidance-for-clinical-trials-disrupted-by-covid-0001">clinical trial disruptions</a></span><span style="color: #000000;"> scare investors away? Will this drive up valuations for licensing partners in the years to come? What will this mean for employment in our sector.</span></p> </div> </div> </div> </div> </div> </section> <section class="elementor-section elementor-top-section elementor-element elementor-element-4848d06 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="4848d06" data-element_type="section" data-settings="{"jet_parallax_layout_list":[{"jet_parallax_layout_image":{"url":"","id":"","size":""},"_id":"2c05a45","jet_parallax_layout_image_tablet":{"url":"","id":"","size":""},"jet_parallax_layout_image_mobile":{"url":"","id":"","size":""},"jet_parallax_layout_speed":{"unit":"%","size":50,"sizes":[]},"jet_parallax_layout_type":"scroll","jet_parallax_layout_z_index":"","jet_parallax_layout_bg_x":50,"jet_parallax_layout_bg_y":50,"jet_parallax_layout_bg_size":"auto","jet_parallax_layout_animation_prop":"transform","jet_parallax_layout_on":["desktop","tablet"],"jet_parallax_layout_direction":null,"jet_parallax_layout_fx_direction":null,"jet_parallax_layout_bg_x_tablet":"","jet_parallax_layout_bg_x_mobile":"","jet_parallax_layout_bg_y_tablet":"","jet_parallax_layout_bg_y_mobile":"","jet_parallax_layout_bg_size_tablet":"","jet_parallax_layout_bg_size_mobile":""}]}"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2dc21c6" data-id="2dc21c6" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-3011265 elementor-widget elementor-widget-text-editor" data-id="3011265" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p><span style="color: #000000;"><em>Shifts in R&D</em> – <a style="color: #000000;" href="http://library.crossfit.com/free/pdf/CFJ_2016_08_Luck-Glassman-V7.pdf"><span style="color: #0000ff;"><span style="text-decoration: underline;">In a 2016 article, Greg Glassman</span></span>, the CEO of CrossFit</a>, defined the five categories, or buckets, of mortality:</span></p><p><span style="color: #000000;"><em>Kinetic</em> – physical trauma, falls, car crashes, and the like</span></p><p><span style="color: #000000;"><em>Genetic</em> – Disorders such as cystic fibrosis and certain cancers; we would also include autoimmune conditions in this bucket.</span></p><p><span style="color: #000000;"><em>Toxic</em> – Lead and other poisonings which can lead directly to death or death via cancer</span></p><p><span style="color: #000000;"><em>Microbic</em> – Bacterial, viral, and fungal infections</span></p><p><span style="color: #000000;"><em>Chronic</em> – obesity, diabetes, and the like.</span></p><p><span style="color: #000000;">Before the pandemic, approximately 70% of deaths in the US were attributable to chronic (and largely preventable) diseases. Many of the drugs used in this bucket are genericized, and pharma has largely stepped away from these markets due to poor pricing. Segments which enable the development and commercialization of expensive therapies like antibodies for gastrointestinal inflammation and psoriasis are an exception.</span></p><p><span style="color: #000000;">Will this change post-pandemic? </span></p><p><span style="color: #000000;">Some have argued that the pandemic will cause the industry to wake up and restart efforts to discover and develop novel anti-viral, novel anti-biotics, and new vaccines. We have our doubts, as the market fundamentals are not changing, unless governments take extraordinary steps like issuing “<a style="color: #000000;" href="https://www.technologyreview.com/2020/04/12/999117/blueprint-what-it-will-take-to-live-in-a-world-with-covid-19/">immunity passports</a>” and the like. More broadly, there may be a resurgence in medications which reduce ICU time, or prevent admission into the ICU.</span></p> </div> </div> </div> </div> </div> </section> <section class="elementor-section elementor-top-section elementor-element elementor-element-4fc783f elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="4fc783f" data-element_type="section" data-settings="{"jet_parallax_layout_list":[{"jet_parallax_layout_image":{"url":"","id":"","size":""},"_id":"94511f7","jet_parallax_layout_image_tablet":{"url":"","id":"","size":""},"jet_parallax_layout_image_mobile":{"url":"","id":"","size":""},"jet_parallax_layout_speed":{"unit":"%","size":50,"sizes":[]},"jet_parallax_layout_type":"scroll","jet_parallax_layout_z_index":"","jet_parallax_layout_bg_x":50,"jet_parallax_layout_bg_y":50,"jet_parallax_layout_bg_size":"auto","jet_parallax_layout_animation_prop":"transform","jet_parallax_layout_on":["desktop","tablet"],"jet_parallax_layout_direction":null,"jet_parallax_layout_fx_direction":null,"jet_parallax_layout_bg_x_tablet":"","jet_parallax_layout_bg_x_mobile":"","jet_parallax_layout_bg_y_tablet":"","jet_parallax_layout_bg_y_mobile":"","jet_parallax_layout_bg_size_tablet":"","jet_parallax_layout_bg_size_mobile":""}]}"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2053d67" data-id="2053d67" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-0bca68c elementor-widget elementor-widget-text-editor" data-id="0bca68c" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p><span style="color: #000000;"><em>The End of Europe</em> – European countries reacted to the pandemic by closing their borders and making major adjustments to their financials, all without Brussels. Aren’t major crises like this supposed to unite Europe? </span></p><p><span style="color: #000000;">The pro-Brexit contingency must be sitting in their private garden pubs with collective “See, I told you so” looks. The European Union will survive this crisis, but what about the next one? Will some countries on shaky fiscal ground decide to break free in order to get themselves back on track? </span></p><p><span style="color: #000000;">How will future investors in euro-denominated opportunities react to the post-pandemic EU? This one is really difficult to predict. But if Brexit is any indication, we suspect other countries in the Union (Spain? Italy?) will take a close, hard look at their future within and outside the Union. What this will mean for our industry is anyone’s guess. </span></p> </div> </div> </div> </div> </div> </section> <section class="elementor-section elementor-top-section elementor-element elementor-element-ef873de elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="ef873de" data-element_type="section" data-settings="{"jet_parallax_layout_list":[{"jet_parallax_layout_image":{"url":"","id":"","size":""},"_id":"d54d229","jet_parallax_layout_image_tablet":{"url":"","id":"","size":""},"jet_parallax_layout_image_mobile":{"url":"","id":"","size":""},"jet_parallax_layout_speed":{"unit":"%","size":50,"sizes":[]},"jet_parallax_layout_type":"scroll","jet_parallax_layout_z_index":"","jet_parallax_layout_bg_x":50,"jet_parallax_layout_bg_y":50,"jet_parallax_layout_bg_size":"auto","jet_parallax_layout_animation_prop":"transform","jet_parallax_layout_on":["desktop","tablet"],"jet_parallax_layout_direction":null,"jet_parallax_layout_fx_direction":null,"jet_parallax_layout_bg_x_tablet":"","jet_parallax_layout_bg_x_mobile":"","jet_parallax_layout_bg_y_tablet":"","jet_parallax_layout_bg_y_mobile":"","jet_parallax_layout_bg_size_tablet":"","jet_parallax_layout_bg_size_mobile":""}]}"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f855d1d" data-id="f855d1d" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-c407ec4 elementor-widget elementor-widget-text-editor" data-id="c407ec4" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p><span style="color: #000000;"><em>Increased Healthcare Spending</em> – The pandemic exposed a number of major flaws in the healthcare systems of many countries, most notably the US. While it is easy to point fingers in hindsight, the reality is that no country was fully prepared for a global pandemic. </span></p><p><span style="color: #000000;">What we can say, however, is that we will experience another pandemic. Maybe COVID-19 will spike later this year. Maybe another virus will make its way around the World…one that is more contagious and more lethal than this one. Will countries like the US take proactive measures? If so, what might they be? </span></p><p><span style="color: #000000;">Universal healthcare? Too expensive and unwieldy for a country of 350 million people. </span></p><p><span style="color: #000000;">Mandatory vaccinations? Hopefully this pandemic is the final nail in the coffin of the anti-vax movement.</span></p><p><span style="color: #000000;"> Construction of regional vaccine and drug manufacturing facilities that ramp up in the event of emergencies? Bill Gates has the right idea here. Stockpiles of PPE and ventilators? Yes, of course.</span></p><p><span style="color: #000000;"> How about greater spending on preventive care? Considering the co-morbidity data, and the problem we have with chronic (preventable) diseases, it seems like an obvious place to go. </span></p><p><span style="color: #000000;">But we are not simply talking about developing more drugs. We’re talking about <em>prevention</em>…and that requires more people making sensible dietary choices and taking physical fitness far more seriously. As a society, we have done a good job reducing the prevalence of smoking (vaping issues aside). </span></p><p><span style="color: #000000;">Legislation and spending to encourage healthier living will result in fewer chronic diseases, thereby freeing healthcare system capacity to deal with diseases in the other Glassman buckets. But if government spends more on healthcare, this spending comes at the expense of what? Education? Infrastructure? Military?</span></p><p><span style="color: #000000;">Now is the time for private payers to offer insurance discounts for members with demonstrated attendance and participation in exercise programs. Now is also the time for employers to recognize that healthier employees are good for business.</span></p><p><span style="color: #000000;">Ironically, this can have a negative impact on the pharmaceutical industry. If a society became healthier, the prevalence of chronic diseases would decline, and result in the decline of prescription drug usage in several therapeutic categories (cardiovascular, metabolics, and some CNS, to name a few). Generic companies (like those Chinese and Indian companies) could be hit especially hard. </span></p> </div> </div> </div> </div> </div> </section> <section class="elementor-section elementor-top-section elementor-element elementor-element-f199a41 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="f199a41" data-element_type="section" data-settings="{"jet_parallax_layout_list":[{"jet_parallax_layout_image":{"url":"","id":"","size":""},"_id":"5874b6f","jet_parallax_layout_image_tablet":{"url":"","id":"","size":""},"jet_parallax_layout_image_mobile":{"url":"","id":"","size":""},"jet_parallax_layout_speed":{"unit":"%","size":50,"sizes":[]},"jet_parallax_layout_type":"scroll","jet_parallax_layout_z_index":"","jet_parallax_layout_bg_x":50,"jet_parallax_layout_bg_y":50,"jet_parallax_layout_bg_size":"auto","jet_parallax_layout_animation_prop":"transform","jet_parallax_layout_on":["desktop","tablet"],"jet_parallax_layout_direction":null,"jet_parallax_layout_fx_direction":null,"jet_parallax_layout_bg_x_tablet":"","jet_parallax_layout_bg_x_mobile":"","jet_parallax_layout_bg_y_tablet":"","jet_parallax_layout_bg_y_mobile":"","jet_parallax_layout_bg_size_tablet":"","jet_parallax_layout_bg_size_mobile":""}]}"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6d277b8" data-id="6d277b8" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-8ef4df3 elementor-widget elementor-widget-text-editor" data-id="8ef4df3" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p><span style="color: #000000;"><em>Unemployment</em> – We cannot ignore the fact that unemployment will remain relatively high in a post-pandemic world. It will take years for some sectors in the economy, like restaurants and sports, to recover. Increased unemployment means less tax revenue and fewer people covered via health insurance. </span></p><p><span style="color: #000000;">And, with retirement funds losing value, those who are employed may have to delay retirement for a bit longer for fear of running out of money during retirement.</span></p> </div> </div> </div> </div> </div> </section> <section class="elementor-section elementor-top-section elementor-element elementor-element-b7b8027 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="b7b8027" data-element_type="section" data-settings="{"jet_parallax_layout_list":[{"jet_parallax_layout_image":{"url":"","id":"","size":""},"_id":"2215656","jet_parallax_layout_image_tablet":{"url":"","id":"","size":""},"jet_parallax_layout_image_mobile":{"url":"","id":"","size":""},"jet_parallax_layout_speed":{"unit":"%","size":50,"sizes":[]},"jet_parallax_layout_type":"scroll","jet_parallax_layout_z_index":"","jet_parallax_layout_bg_x":50,"jet_parallax_layout_bg_y":50,"jet_parallax_layout_bg_size":"auto","jet_parallax_layout_animation_prop":"transform","jet_parallax_layout_on":["desktop","tablet"],"jet_parallax_layout_direction":null,"jet_parallax_layout_fx_direction":null,"jet_parallax_layout_bg_x_tablet":"","jet_parallax_layout_bg_x_mobile":"","jet_parallax_layout_bg_y_tablet":"","jet_parallax_layout_bg_y_mobile":"","jet_parallax_layout_bg_size_tablet":"","jet_parallax_layout_bg_size_mobile":""}]}"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-44a97bd" data-id="44a97bd" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-fb86598 elementor-widget elementor-widget-text-editor" data-id="fb86598" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p><span style="color: #000000;"><em>Paranoia</em> – <span style="text-decoration: underline; color: #0000ff;"><a style="color: #0000ff; text-decoration: underline;" href="https://www.cdc.gov/nchs/fastats/flu.htm">According to the CDC</a></span>, less that 50% of adults between the ages of 50 and 64 years receive a flu vaccine. Assuming a safe, effective coronavirus vaccine is developed and launched quickly, and is widely available and of minimal cost to patients, will we see widespread compliance? Let us assume that coronavirus vaccination rates are less than 75%. Will governments shut down economies once somebody coughs or sneezes? </span></p><p><span style="color: #000000;">Is this a switch that will be flipped on and off when disease returns? Are draconian measures required, i.e., no vaccine, no entry into school or work? What happens when people realize that protection against this virus will not confer protection against the next one? What if the vaccine is very expensive? </span></p><p><span style="color: #000000;">This is actually a perfect opportunity for <span style="text-decoration: underline;"><span style="color: #0000ff;"><a style="color: #0000ff; text-decoration: underline;" href="https://en.wikipedia.org/wiki/Seasonal_influenza_vaccine_brands">established vaccine manufacturers</a></span></span> (Sanofi, Novartis, etc.) to expand on existing development and manufacturing capabilities. <a style="color: #000000;" href="https://www.cdc.gov/flu/prevent/vaccine-supply-distribution.htm"><span style="text-decoration: underline;"><span style="color: #0000ff; text-decoration: underline;">If seasonal influenza</span></span> is a guide</a>, we would need to roughly double vaccine distribution in the US alone.</span></p> </div> </div> </div> </div> </div> </section> <section class="elementor-section elementor-top-section elementor-element elementor-element-2f5e6de elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="2f5e6de" data-element_type="section" data-settings="{"jet_parallax_layout_list":[{"jet_parallax_layout_image":{"url":"","id":"","size":""},"_id":"1b52a8b","jet_parallax_layout_image_tablet":{"url":"","id":"","size":""},"jet_parallax_layout_image_mobile":{"url":"","id":"","size":""},"jet_parallax_layout_speed":{"unit":"%","size":50,"sizes":[]},"jet_parallax_layout_type":"scroll","jet_parallax_layout_z_index":"","jet_parallax_layout_bg_x":50,"jet_parallax_layout_bg_y":50,"jet_parallax_layout_bg_size":"auto","jet_parallax_layout_animation_prop":"transform","jet_parallax_layout_on":["desktop","tablet"],"jet_parallax_layout_direction":null,"jet_parallax_layout_fx_direction":null,"jet_parallax_layout_bg_x_tablet":"","jet_parallax_layout_bg_x_mobile":"","jet_parallax_layout_bg_y_tablet":"","jet_parallax_layout_bg_y_mobile":"","jet_parallax_layout_bg_size_tablet":"","jet_parallax_layout_bg_size_mobile":""}]}"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f1f5601" data-id="f1f5601" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-de1b738 elementor-widget elementor-widget-text-editor" data-id="de1b738" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p><span style="color: #000000;"><em>China</em> – Pre-pandemic, China was regularly in the news. Post-pandemic, China became even more prominent in the news. Coronavirus has opened our collective eyes to our dependence on a single country for our supplies not only of cheap consumer goods like phones and toys, but also drugs, ventilators, other medical equipment, and so forth. </span></p><p><span style="color: #000000;">But if not China, where? Can any other country produce at the volumes and cost as they can in China? Probably not. So again, we may evolve into an economy that depends on a network of suppliers across multiple countries. This will obviously cost more, but it will serve as a hedge against having governors sharing equipment from one state to another. </span></p><p><span style="color: #000000;">This also points to the need for medical strategic reserves. We already have oil reserves Why not have reserves of PPE and anti-virals? Again, building and maintaining drug reserves could be a small opportunity for domestic pharma companies.</span></p> </div> </div> </div> </div> </div> </section> <section class="elementor-section elementor-top-section elementor-element elementor-element-b885608 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="b885608" data-element_type="section" data-settings="{"jet_parallax_layout_list":[{"jet_parallax_layout_image":{"url":"","id":"","size":""},"_id":"0e2dc9c","jet_parallax_layout_image_tablet":{"url":"","id":"","size":""},"jet_parallax_layout_image_mobile":{"url":"","id":"","size":""},"jet_parallax_layout_speed":{"unit":"%","size":50,"sizes":[]},"jet_parallax_layout_type":"scroll","jet_parallax_layout_z_index":"","jet_parallax_layout_bg_x":50,"jet_parallax_layout_bg_y":50,"jet_parallax_layout_bg_size":"auto","jet_parallax_layout_animation_prop":"transform","jet_parallax_layout_on":["desktop","tablet"],"jet_parallax_layout_direction":null,"jet_parallax_layout_fx_direction":null,"jet_parallax_layout_bg_x_tablet":"","jet_parallax_layout_bg_x_mobile":"","jet_parallax_layout_bg_y_tablet":"","jet_parallax_layout_bg_y_mobile":"","jet_parallax_layout_bg_size_tablet":"","jet_parallax_layout_bg_size_mobile":""}]}"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9e0eea4" data-id="9e0eea4" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-c985f58 elementor-widget elementor-widget-text-editor" data-id="c985f58" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p><span style="color: #000000;"><em>Conclusion</em> – We believe it is entirely too early to come to any sort of conclusions about what a post-COVID-19 pharma industry will look like. </span></p><p><span style="color: #000000;">What we can say is that we are entering a 2-5-year period of time where we will experience a great deal of industry change…in how we work, in how we collaborate, in the markets that will open (and close)…all against a backdrop of higher unemployment, slow macroeconomic recovery, and accelerated shifts from West to East. </span></p> </div> </div> </div> </div> </div> </section> </div> ]]></content:encoded> <wfw:commentRss>https://lacertabio.com/a-post-covid-19-world/feed/</wfw:commentRss> <slash:comments>0</slash:comments> <post-id xmlns="com-wordpress:feed-additions:1">4662</post-id> </item> <item> <title>Pharma Competitive Intelligence, Then and Now</title> <link>https://lacertabio.com/pharma-competitive-intelligence-then-and-now/</link> <comments>https://lacertabio.com/pharma-competitive-intelligence-then-and-now/#respond</comments> <dc:creator><![CDATA[Carlos]]></dc:creator> <pubDate>Tue, 25 Sep 2012 18:42:15 +0000</pubDate> <category><![CDATA[Due Diligence]]></category> <category><![CDATA[Business intelligence]]></category> <category><![CDATA[Competitive intelligence]]></category> <category><![CDATA[Knowledge Management]]></category> <guid isPermaLink="false">http://lacertabio.com/?p=826</guid> <description><![CDATA[Pharmaceutical and biotech competitive intelligence is increasingly important and challenging these days. Lacerta Bio discusses a recent case study in which a client learned this the hard way. ]]></description> <content:encoded><![CDATA[<figure style="width: 175px" class="wp-caption alignright"><a href="http://en.wikipedia.org/wiki/File:TheMalteseFalcon3_sz175.jpg" target="_blank"><img decoding="async" class="zemanta-img-inserted zemanta-img-configured" title="Humphrey Bogart as Sam Spade in the 1941 film ..." src="http://upload.wikimedia.org/wikipedia/en/d/d9/TheMalteseFalcon3_sz175.jpg" alt="Humphrey Bogart as Sam Spade in the 1941 film ..." width="175" height="221" /></a><figcaption class="wp-caption-text">Times have changed since this guy was solving cases.</figcaption></figure> <p>Many of you of a certain age who started working during the BI era (Before Internet) will recall how challenging pharma competitive intelligence gathering could be.</p> <p>We remember the boxes of Annual Reports scattered around a small office. Add to this the black photocopies (remember those?) from various data books (remember books?) like S&P and many others.</p> <p>Today, of course, things are quite different. We no longer check boxes on forms to order Annual Reports. We just download what we need; much of it for free. We also have access to some excellent analysis from various market and equity researchers.</p> <p>Yet, the need for pharma competitive intelligence has never been greater, especially as the noise level has increased exponentially.</p> <p>Further, we have the challenge of identifying and analyzing many more companies and competitors around the world <em>continuously</em>.</p> <p>We had a situation over the past few weeks which highlights this new need for a modern, continuous pharma competitive intelligence.</p> <p>We have a client that had previously invested in an excellent reformulation opportunity. Currently, there is nothing like this particular formulation on the US market. This particular program completed Phase I trials, and is about to embark on a Phase IIa program. The due diligence was performed internally, with some input from technical consultants on matters related to CMC.</p> <p>To our knowledge, external support was not used for competitive intelligence.</p> <p>Several months after the investment was made, our client discovered a company in Asia who claimed to have a similar candidate with the same drug, same route of administration, but different technology. The discovery was made as part of an internet search on another matter.</p> <p>Critically, the competitor claimed to have <em>completed Phase IIa studies in the US</em>, and was ready for partnering.</p> <p>So now our client was facing an interesting situation…their portfolio company was now <em>trailing</em> an unexpected, unanticipated, undetected competitor.</p> <p>We were asked to execute a brief competitive intelligence exercise to learn as much as possible about this new potential competitor.</p> <p>To make a long story short, we used a combination of approaches (including a lot of time on International Skype calls) to learn what we could.</p> <p>In our report, we concluded that the competitor <em>currently</em> does not have the wherewithal to continue clinical development themselves. We also concluded that the competitor may struggle to out-license their clinical candidate due to issues with their particular drug delivery technology.</p> <p>So while our client is sleeping easier now, this entire exercise highlighted the need for continuous pharma competitive intelligence, both pre- and post-transaction.</p> <p>One simply never knows when a competitor, especially a strong overseas competitor, can appear at a major partnering conference with a well-advanced. technologically superior competitive asset.</p> <p>A few suggestions if you are interested in continuous pharma competitive intelligence:</p> <p>1. Use <a class="zem_slink" title="Google News" href="http://news.google.com/" rel="homepage" target="_blank">Google News</a> & RSS or similar tools to monitor keywords related to your candidate or product. A lot of people start using this approach, but then abandon it because the amount of data that comes in on a daily basis can be large, repetitive, and difficult to manage. This is something that can be readily outsourced.</p> <p>2. Monitor relevant groups on LinkedIn, although the comment regarding data overload can also be true for LinkedIn. This is something that can also be outsourced, and incorporated into Point 1 above.</p> <p>3. Carefully search presenters and partnering sessions at the major conferences, and also at the therapeutic area-specific conferences.</p> <p>4. Use external consultants to actively search and find information anonymously on your behalf. Unlike digital means, external consultants have the obvious benefit of leveraging their Contacts and asking questions.</p> <p>With more data comes more noise, and more volatility, in the sense that a competitive situation can change relatively quickly. This is especially true in the reformulation/ drug delivery /505(b)(2) space, where many companies can have the resources and technologies to rapidly develop a product up to an advanced value inflection point.</p> <p>Anyone interested in pharma competitive intelligence should consider instituting some of these practices, or retain consultants at a low cost to continuously monitor a specific area, and provide summary reports on a regular basis.</p> <p>We would also argue that companies who are seeking funding should also consider a pharma competitive intelligence system or process, and make a note of that in the overall pitch to investors.</p> <p>Missing a new potential competitor during due diligence can result in some rather awkward conversations with prospective investors, especially as the investing process can proceed for months at a time.</p> <p> </p> <div class="zemanta-pixie" style="margin-top: 10px; height: 15px;"><img decoding="async" class="zemanta-pixie-img" style="border: none; float: right;" src="http://img.zemanta.com/pixy.gif?x-id=37241059-108a-46cb-a4e5-5466b401eff0" alt="" /></div> ]]></content:encoded> <wfw:commentRss>https://lacertabio.com/pharma-competitive-intelligence-then-and-now/feed/</wfw:commentRss> <slash:comments>0</slash:comments> <post-id xmlns="com-wordpress:feed-additions:1">826</post-id> </item> <item> <title>When does due diligence start?</title> <link>https://lacertabio.com/when-does-due-diligence-start/</link> <comments>https://lacertabio.com/when-does-due-diligence-start/#respond</comments> <dc:creator><![CDATA[Carlos]]></dc:creator> <pubDate>Wed, 12 Oct 2011 18:43:51 +0000</pubDate> <category><![CDATA[Due Diligence]]></category> <category><![CDATA[Pharmaceutical]]></category> <category><![CDATA[biotech business development]]></category> <category><![CDATA[due diligence]]></category> <category><![CDATA[pharmaceutical]]></category> <guid isPermaLink="false">http://lacertabio.com/?p=436</guid> <description><![CDATA[In our view, there are two basic types of biotech business development-related due diligence. The first is external , where the team gathers and analyzes data about a target company or technology exclusively using external data sources, such as market & equity research, physician interviews and surveys, conferences & symposia, and so forth. The second […]]]></description> <content:encoded><![CDATA[<p>In our view, there are two basic types of biotech business development-related due diligence. The first is <em>external</em> , where the team gathers and analyzes data about a target company or technology exclusively using external data sources, such as market & equity research, physician interviews and surveys, conferences & symposia, and so forth. The second is <em>internal</em>, where the team is reviewing and analyzing the internal data from the target company itself, in the context of the learnings from external due diligence work.</p> <p>[The aforementioned definitions assume that there is a core business development strategy in place, and that there is an active, ongoing process of gathering information on markets, technologies, and prospective business development targets (technologies, companies, or markets).]</p> <p>The reality is that external and internal due diligence cannot be separated. They are linked because no matter how good the external analysis, internal analysis will invariably raise questions that need more external work. Thus, much of the external business development due diligence work has to be reviewed in light of internal findings, or gaps in the external work have to be filled with additional (original) research.</p> <p>Additionally, biotech due diligence has to be placed in its strategic and transactional context. For example, does this particular opportunity fit within the overall business development strategy? Again, assuming there is a strategy in place? Would this transaction take the company a step closer to its goals as outlined in its strategy? Basic questions like these are critical elements of any due diligence process.</p> <p>Thus, there really isn’t a specific time when biotech business development – associated due diligence begins. It’s more of a continuous process, with various phases and levels of intensity, such as:</p> <ul> <li>During strategy development</li> <li>Ongoing learning about markets, technologies, and companies</li> <li>Intensification as potential targets rise in importance</li> <li>Further intensification and reexamination of first assumptions during external due diligence</li> <li>During regular reassessment of overall business development strategy</li> </ul> ]]></content:encoded> <wfw:commentRss>https://lacertabio.com/when-does-due-diligence-start/feed/</wfw:commentRss> <slash:comments>0</slash:comments> <post-id xmlns="com-wordpress:feed-additions:1">436</post-id> </item> </channel> </rss>