Bridging the Gap - Pharmaceutical Executive


Bridging the Gap

Pharmaceutical Executive

One alliance team adopted the motto: "Beat the competition with the brand, and do no harm to our partner." Not a bad idea, but also not really a best-case scenario. As the industry gains more experience in alliance management, companies need to aspire to be "partners of choice" and to develop a credo of guiding principles that govern how their teams enter into and carry out a cross-cultural alliance. In recent years there has been a dramatic increase in the degree to which pharma companies rely on other organizations to supplement pipelines and commercial capabilities, and the trend shows no signs of slowing. Financial potential will continue to dominate deal decision-making. What pharma is still learning is how excellence in alliance management—which includes managing cultural differences—can reduce many of the risk factors involved in any major partnership.


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