The "due diligence framework" is an efficient process. But efficient is not the same as quick and easy. There are no shortcuts. The framework minimizes resource commitments and disruptions to ongoing programs and helps each side learn what it needs to know. In six steps, it converts the typical due diligence root canal into a painless filling.
Co-promotion agreements and a wide variety of strategic alliances are redefining the pharmaceutical industry. Yet interviews with 28 executives from 12 companies that have chosen or are seeking a pharma partner to market a late-stage compound confirm a disturbing fact: Despite much executive-suite talk about becoming the "partner of choice," few companies have devoted the resources needed to build alliance infrastructures that will support the entire portfolio of co-promotion deals, licensing agreements, R&D collaborations, and other relationships that are quietly reshaping their organizations.