Wednesday, April 22, 2015

Live from #PCTUS: The Impacts on Clinical Operations When Getting Acquired by a Pharma Company

By: Ryan Geswell

Charlie Romano, Sr. Director, Clinical Research, Amniox Medical

In this Town Hall style session, Charlie Romano, Sr. Director of Clinical Research, Amniox Medical walked around a well-attended room talking about and asking for audience input and thoughts about what really happens when your company gets acquired. The discussion opened up with the obvious question...

What generally happens when we get acquired?

Charlie continued on to say "If your project is premier you are usually pretty safe - if your project is being acquired you should make yourself known. Not just on a personal level, but you should know more about your project than absolutely everyone and be open to new processes that help make for a better outcome."

After some audience interaction on general acquisition woes, as many in the room had either done the acquiring or been acquired, the conversation shifted to the question of during an acquisition, what can we do as clinical operations people? And this answer seemed to be unanimous for all; assess your risk and become an advocate for the new vendor.

This Town Hall style meeting sparked some very interesting debates from an audience of industry professionals from both sides of the fence. Below you will see some soundbites from the session...

Key Soundbites:

"The big CROs think the little guys have it right and the small CROs think that the big guys have it right"

"The most import thing about a clinical trial is the protocol"

"Protocol approval is king on most projects - but it is interesting how different it can be between a big company and a small company. The timeline for developing these protocols is vastly different. This can vary from a few days or weeks to 6+ months, where do you fall on this scale?"

"Timelines are life or death to both little pharma & big pharma"

"If something can help get your project/product to market sooner be sure that need is known. Timely projects are so key that any little advantage helps."

"A lesson I have learned being on both sides of acquisitions - don't act like you are the best thing since sliced bread. Be open to learn, grow, and be better from this new partnership."

Stay tuned for more updates & recaps from Partnerships in Clinical Trials.

Join the conversation on Twitter by following @PartnershipCROs and tracking all on site activity with #PCTUS

No comments: