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Panelists:
Kenneth Getz, MBA, Senior Research Fellow, TUFTS CENTER FOR THE STUDY OF DRUG DEVELOPMENT
Christine Pierre, President & CEO, RXTRIALS INSTITUTE
Kenneth Getz kicks off the panel by discussing the overall market conditions. Market conditions are really the perfect storm. There is a high level of uncertainty going forward. There is a dramatic shift in management of operating costs and he covers some commercialization and R&D operating conditions.
Commercialization Conditions
- Restrictive price controls
- Healthcare reform uncertainty
- Depressed global markets
- Intense competition
R&D Operating Conditions
- Low success rate
- Declining levels of innovation
- Rising R&D costs
- Competition
- Staff consolidation
- Public discontent
Some benefits are:
- Improved protocol design feasibility
- Faster study start-up
- Higher level of process integration
- Improved quality of study results
Some Risks are:
- High financial risk exposure
- More concentrated operating risks
Christine Pierre starts off her talk with an analogy about getting the ultimate experience when buying shoes at Nordstroms as compared to a lower cost store like PayLess. At Nordstroms, she gets higher quality and a better quality experience because Nordstroms goes beyond just taking monies by documenting and referencing the customers’ needs and wants.
Sites the silent partner:
- Unsustainable model
- Only 1 out of 12 products approved
- Prioritize your spend
- Measure metrics
- Seek long term relationships
- High Value Partnership ActivitiesProfessionalism
- Project management
- Operations
- Payment process
Key take-away: Ultimately, you need to build good and quality relationships to make partnerships work. This is an on-going need to have strong partners. Again, we hear about the need for finding the right collaboration partners – ones that are knowledgeable and know all aspects of the various business goals/models.
Key take-away: Do not reinvent the wheel for every situation instead manage for success by establishing sponsor-site alliances!
Kenneth Getz, MBA, Senior Research Fellow, TUFTS CENTER FOR THE STUDY OF DRUG DEVELOPMENT
Christine Pierre, President & CEO, RXTRIALS INSTITUTE
Kenneth Getz kicks off the panel by discussing the overall market conditions. Market conditions are really the perfect storm. There is a high level of uncertainty going forward. There is a dramatic shift in management of operating costs and he covers some commercialization and R&D operating conditions.
Commercialization Conditions
- Restrictive price controls
- Healthcare reform uncertainty
- Depressed global markets
- Intense competition
R&D Operating Conditions
- Low success rate
- Declining levels of innovation
- Rising R&D costs
- Competition
- Staff consolidation
- Public discontent
Some benefits are:
- Improved protocol design feasibility
- Faster study start-up
- Higher level of process integration
- Improved quality of study results
Some Risks are:
- High financial risk exposure
- More concentrated operating risks
Christine Pierre starts off her talk with an analogy about getting the ultimate experience when buying shoes at Nordstroms as compared to a lower cost store like PayLess. At Nordstroms, she gets higher quality and a better quality experience because Nordstroms goes beyond just taking monies by documenting and referencing the customers’ needs and wants.
Sites the silent partner:
- Unsustainable model
- Only 1 out of 12 products approved
- Prioritize your spend
- Measure metrics
- Seek long term relationships
- High Value Partnership ActivitiesProfessionalism
- Project management
- Operations
- Payment process
" Why aren’t we creating partnerships with volunteers? A good question! "
Key take-away: Ultimately, you need to build good and quality relationships to make partnerships work. This is an on-going need to have strong partners. Again, we hear about the need for finding the right collaboration partners – ones that are knowledgeable and know all aspects of the various business goals/models.
Key take-away: Do not reinvent the wheel for every situation instead manage for success by establishing sponsor-site alliances!
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