Managing Biotechnology: From Science to Market in the Digital Age
A comprehensive overview of the new business context for biopharma companies, featuring numerous case studies and state-of-the-art marketing models
Biotechnology has developed into a key innovation driver especially in the field of human healthcare. But as the biopharma industry continues to grow and expand its reach, development costs are colliding with aging demographics and cost-containment policies of private and public payers. Concurrently, the development and increased affordability of sophisticated digital technologies has fundamentally altered many industries including healthcare. The arrival of new information technology (infotech) companies on the healthcare scene presents both opportunities and challenges for the biopharma business model. To capitalize on new digital technologies from R&D through commercialization requires industry leaders to adopt new business models, develop new digital and data capabilities, and partner with innovators and payers worldwide.
Written by two experts, both of whom have had decades of experience in the field, this book provides a comprehensive overview of the new business context and marketing models for biotech companies. Informed by extensive input by senior biotech executives and leading consultancies serving the industry, it analyzes the strategies and key success factors for the financing, development, and commercialization of novel therapeutic products, including strategies for engagement with patients, physicians and healthcare payers. Throughout case studies provide researchers, corporate marketers, senior managers, consultants, financial analysts, and other professionals involved in the biotech sector with insights, ideas, and models.
JACQUALYN FOUSE, PhD, RETIRED PRESIDENT AND CHIEF OPERATING OFFICER, CELGENE
“Biotech companies have long been innovators, using the latest technologies to enable cutting edge science to help patients with serious diseases. This book is essential to help biotech firms understand how they can–and must–apply the newest technologies including disruptive ones, alongside science, to innovate and bring new value to the healthcare system.”
BRUCE DARROW, MD, PhD, CHIEF MEDICAL INFORMATION OFFICER, MOUNT SINAI HEALTH SYSTEM
“Simon and Giovannetti have written an essential user’s manual explaining the complicated interplay of the patients who deserve cutting-edge medical care, the biotechnology companies (big and small) creating the breakthroughs, and the healthcare organizations and clinicians who bridge those worlds.”
EMMANUEL BLIN, FORMER CHIEF STRATEGY OFFICER AND SENIOR VICE PRESIDENT, BRISTOL-MYERS SQUIBB
“If you want to know where biopharma is going, read this book! Our industry is facing unprecedented opportunities driven by major scientific breakthroughs, while transforming itself to address accelerated landscape changes driven by digital revolutions and the emergence of value-based healthcare worldwide. In this ever-changing context, we all need to focus everything we do on the patients. They are why we exist as an industry, and this is ultimately what this insightful essay is really about.”
JOHN MARAGANORE, PRESIDENT AND CHIEF EXECUTIVE OFFICER, ALNYLAM PHARMACEUTICALS
“Since the mapping of the human genome was completed nearly 15 years ago, the biotechnology industry has led the rapid translation of raw science to today’s innovative medicines. However, the work does not stop in the lab. Delivering these novel medicines to patients is a complex and multifaceted process, which is elegantly described in this new book.”
About the Authors
PART I. NEW MODELS FOR NETWORKED INNOVATION
Chapter 1 Biotechnology as an Innovation Driver
Chapter 2 Biotechnology Financing Strategies
Chapter 3 Success through Collaboration
PART II. NEW BUSINESS AND MARKETING MODELS
Chapter 4 Precision Medicine
Chapter 5 Precision Marketing
Chapter 6 Patient Centricity Strategies
Chapter 7 Drug Pricing in Context
Chapter 8 Strategic Payer Engagement
PART III. WINNING IN THE GLOBAL MARKETPLACE
Chapter 9 Digital Health Strategies
Chapter 10 Creating Agility through Data and Analytics
Francoise Simon, PhD, is Professor Emerita, Columbia University and Senior Faculty, Icahn School of Medicine at Mount Sinai. Dr. Simon has over thirty years of experience in working with Fortune 500 companies, new ventures, European and Asian firms and the United Nations.
Glen Giovannetti is a partner at Ernst & Young LLP and the EY Global Biotechnology Leader. He has over 25 years of experience serving clients in the biopharmaceutical industry on a range of strategic issues.