25 of the top 30 Life Sciences companies work with Business Talent Group on high-impact projects. These projects range from R&D to commercialization and performance improvement–and have made Life Sciences our largest and best-developed specialty.
Today’s Life Sciences companies face soaring R&D costs and ever-changing regulations, while being increasingly pressured to generate revenue and reduce costs. Less than 12% of drugs that enter a clinical trial result in an approved medicine, and less than 20% of marketed drugs produce returns that match or exceed their R&D budget1.
It’s never been more imperative for companies to develop and market new products as efficiently as possible. So our top projects of the month are all ones where our independent life science consultants helped clients achieve greater efficiency or ROI.
Indication Prioritization
The VP of Global Marketing at a F200 pharma company was reviewing a promising drug about to enter Phase II of R&D. The company's lean team had already completed a broad indication assessment, but they needed help preparing a more detailed opportunity assessment that leveraged scientific, commercial, and regulatory analysis and could feed late-stage development strategies. Business Talent Group's talent was an R&D specialist with biopharma business development experience and deep expertise in the drug's therapeutic area. Leveraging internal and external research resources, he conducted competitive analyses and financial forecasts and prioritized potential indications by patient group. Then, he delivered strategic recommendations on the top three assets for late-stage clinical development.Accelerating an Oncology Drug Launch
A F300 pharma company was preparing to launch a new oncology drug. But its understaffed pricing and market access group was struggling to create global access plans and strategies. Expecting accelerated regulatory approvals in the US and Europe, the company's Director of Global Pricing turned to Business Talent Group. Our talent was a life science specialist from McKinsey with a background in project management and executive experience at two multi-billion-dollar biotech companies. He worked with the team to generate pre-launch insights, analytics, and country-level revenue forecasts. He also coordinated with vendors and stakeholders to accelerate the timing of the launch. Finally, he helped refine launch strategies for eight key markets, handing off to regional teams for execution.Product Development Roadmap
Through a partnership with an academic laboratory, a global non-profit had developed a promising malnutrition technology. The challenge: creating a strategy that would take the technology out of the lab and into patient populations in Africa and Asia. The group's researchers had little experience with product development, so they turned to Business Talent Group. Our three-person team was led by a former McKinsey partner and supported by an R&D expert and a business development strategist with experience in the African market. Over the course of the next month, this team worked to outline regulatory issues and identify partners who could develop, manufacture, market, and distribute the product. Then, they synthesized their findings to create a high-level product development plan that the client could execute on.
Learn more about how Life Sciences executives are working with BTG to drive high-impact projects – and how you can too!
1 PhARMA. “Profile Biopharmaceutical Research Industry.” 2016.
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About the Author
Leah Hoffmann is a former journalist who has worked for Forbes.com and The Economist. She is passionate about clear thinking, sharp writing, and strong points of view.
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