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E-Folder - Competent Collaborations - Making Your Alliances Work
Is the synergy worth the energy?
The reason I ask this question is because, developing successful and profitable alliances is rarely easy. If it were, everyone would be doing it successfully. Many alliance consultants, and myself included, have determined that about 50% of the alliances created in the United States fail for one reason or another.
The reasons that you may select to enter into alliance relationships are varied, and generally based on need
The reason I ask this question is because, developing successful and profitable alliances is rarely easy. If it were, everyone would be doing it successfully. Many alliance consultants, and myself included, have determined that about 50% of the alliances created in the United States fail for one reason or another.
The reasons that you may select to enter into alliance relationships are varied, and generally based on need
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
and competencies. The need side is usually represented in areas where we may consider ourselves or our organization to be lacking or weak. The competency side is the opposite, the strengths that we have to share. An ideal alliance situation is with a person or organization that exhibits competency in our weaker areas and weakness or need in our personal and/or organization’s areas of competency. This is where our circles of interest strongly overlap—wher
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
e we have the greatest chance to be of service to one another.
To be successful in building competent collaborations, at least a sprinkling of the following six personal qualities should be encompassed within you and your alliance partners: Curious, Vision, Communication, Leadership, Organize, and Compassion. Let’s look at these individually.
Curious. While you’ve undoubtedly heard is said many times, “Curiosity killed the cat.” We’re not cats. W
To be successful in building competent collaborations, at least a sprinkling of the following six personal qualities should be encompassed within you and your alliance partners: Curious, Vision, Communication, Leadership, Organize, and Compassion. Let’s look at these individually.
Curious. While you’ve undoubtedly heard is said many times, “Curiosity killed the cat.” We’re not cats. W
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
e’re business people searching for leading-edge methods for which we desire to improve our capabilities and hopefully our profits. Curious means you are open to new, and frequently, unsuspected opportunities. You must be curious to alliance possibility in order to simply get started.
Vision. Where is it, which you want your alliance to help you reach? What synergistic goals do you visualize being possible? Simply developing an alliance because it
Vision. Where is it, which you want your alliance to help you reach? What synergistic goals do you visualize being possible? Simply developing an alliance because it
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
appears the trendy thing to do is hardly a reason to put forth the effort. Additionally in the area of vision, you must be able to see into the future and not become dependent upon your alliance partner—doing this will make you weak. On the other side, if you become too independent, you will no longer be desirable ac an alliance partner to others. Your vision needs to be to work toward that proverbial, and many times elusive, sweet spot where you become i
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
nterdependent and develop time effective synergies.
Communication. Through my research, I have discovered that the leading reason for alliance failure is communication. While communication does cover a number of issues and situations, this is the key area for which I’d suggest you focus greatly.
A great example of the need for quality communication is the fact that Eli Lilly, the pharmaceutical giant, writes into many of their alliance agreements
Communication. Through my research, I have discovered that the leading reason for alliance failure is communication. While communication does cover a number of issues and situations, this is the key area for which I’d suggest you focus greatly.
A great example of the need for quality communication is the fact that Eli Lilly, the pharmaceutical giant, writes into many of their alliance agreements
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
a mandatory quarterly face-to-face meeting of the principals from each company in the alliance. While the Lilly executives sometimes complain they do not have the time for these meetings, the meetings are contractually mandatory. Generally there is a social dinner the evening before the meeting where many of the current issues and problems get brought out in the open in a non-threatening manner.
Following the 911 attacks and resulting travel challenges,
Following the 911 attacks and resulting travel challenges,
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
some of the Lilly alliance executives tried fulfilling these contractual obligations via videoconferencing. It seemed to work well and continued substituting videoconferencing for the mandatory face-to-face meetings. It did not take long for alliance problems to start magnifying. As soon as they went back to the live face-to-face meetings, they started again solving challenges before they ever became alliance relationship problems.
Leadership. In
Leadership. In
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
order for your alliances to be successful, you must exhibit at least a modicum of leadership qualities. I did not say dictatorship! Here, more than in any other area, your willingness to focus on getting things done, rather than to obsess on being right will determine alliance success. In a corporate environment, the paradigm of partnering must start at the top. The executive must drive the philosophy through both word and deed. Even if you are a single
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
person practice, you must be an alliance champion throughout all the areas of your business.
Organize. Your ability to organize, in the form of alliance structure, procedure and process will have a huge impact on the ultimate implementation and longevity of your alliance relationships. Continuing with Lilly, their alliance implementation process is so sophisticated that they measure (Lilly Web) the perceptions of all of the key players in their al
Organize. Your ability to organize, in the form of alliance structure, procedure and process will have a huge impact on the ultimate implementation and longevity of your alliance relationships. Continuing with Lilly, their alliance implementation process is so sophisticated that they measure (Lilly Web) the perceptions of all of the key players in their al
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
iances—Lilly players and those of their alliance partners. The perceptions that they measure are basically what everybody thinks about one another. This allows Lilly to course correct when they discover that Lilly’s, and their alliance partners’ perceptions of the performance of one another is distorted or out of balance.
Compassion. As you meander through the process of alliance development and implementation, you need to have compassion, and eve
Compassion. As you meander through the process of alliance development and implementation, you need to have compassion, and eve
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
n tolerance, for the foibles of others. This quality will allow you to maintain your sanity in what can sometimes seem like alliance insanity. As you develop alliance relationships, sometimes your alliance partner might, in your opinion, let you down. Since not everybody happens to be as bright as you are; an alliance success secret is to give your alliance partner a break once in a while—especially if your expectations are a bit unrealistic.
Relation
Relation
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ship Value Update. For years, I have told my alliance clients, that if they would just complete a Relationship Value Update (RVU) for one another as little as twice yearly, they could head off a number of relationship killer situations. Some have, and succeed but unfortunately many have not and have failed. While using this tool does not guarantee success, but it sure makes alliance success more likely. There is the long form in my book, Developing St
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
rategic Alliances, (to access this and other helpful additional information from Ed Rigsbee at no charge, please visit the link below.
Here, I’ll share with you my short form. I believe this RVU if used diligently, will make a lasting difference for you as you go through your alliance implementation process.
Below, you will find the three key questions for both you and your alliance partner to answer IN WRITING about the value of your alliance with one
Here, I’ll share with you my short form. I believe this RVU if used diligently, will make a lasting difference for you as you go through your alliance implementation process.
Below, you will find the three key questions for both you and your alliance partner to answer IN WRITING about the value of your alliance with one
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
another. Then mail your answers to the other. Then each of you can review the information in the privacy of your own office—it’s much better this way. Doing this is far less threatening than is a face-to-face value meeting—that can be done later. Now each of you can quietly read the RVU and hopefully better understand the others’ perspective on the success of the alliance and the value it does, or does not, deliver. This tactic is your best help for avoid
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
ing perception challenge issues and dealing with small issues before they get out of hand.
• The value I’m getting from the relationship.
• The Value I think you are receiving.
• Your suggested improvement strategies
Contracts. Written agreements, whatever you call them, are crucial in the success of an alliance. No matter how trusting and loyal each alliance partner operates toward the other—in time people forget their promises. Sometimes they
• The value I’m getting from the relationship.
• The Value I think you are receiving.
• Your suggested improvement strategies
Contracts. Written agreements, whatever you call them, are crucial in the success of an alliance. No matter how trusting and loyal each alliance partner operates toward the other—in time people forget their promises. Sometimes they
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
even come to believe they promised something other than they actually did. You have heard it said by any number of professional speakers, “The palest ink is far better than the most retentive memory.” I have found this platitude to be quite accurate. By putting to paper your expectations of one another, along with promises and listing who is responsible for what, you both will have a living document to use as an alliance relationship guide. This guide, c
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ontract or agreement, whatever the name, can naturally be adjusted at any time based on new information, market conditions and/or changed alliance partner commitment levels.
In the final analysis, I can honestly tell you that alliance relationships, for a myriad of reasons, can be extremely profitable for all involved. The key is to determine if the synergy is worth the energy. If it were not, why in the world would you want to proceed? But, if you belie
In the final analysis, I can honestly tell you that alliance relationships, for a myriad of reasons, can be extremely profitable for all involved. The key is to determine if the synergy is worth the energy. If it were not, why in the world would you want to proceed? But, if you belie
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
ve the synergy is worth your energy, you can open the door to a new world of business possibilities. With partners that share their complementary core competencies, things can be done that you may never have imagined possible in your career. A truth that I have discovered in my years of alliance consulting, most people are in such a big hurry to build their alliance that they over look the most important alliance issue—pick your partners well. Skip the ne
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
cessary due diligence, and you’ll be crying about conflict resolution and exit agreements rather than focusing on the opportunities and possibilities.
My Alliance Partner Quiz will help you to get a fighting start in selecting your alliance partners. You may also access this at no charge, please visit www.rigsbee.com/downloadaccess.htm.
Good luck in building your synergistic alliances
My Alliance Partner Quiz will help you to get a fighting start in selecting your alliance partners. You may also access this at no charge, please visit www.rigsbee.com/downloadaccess.htm.
Good luck in building your synergistic alliances
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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