According to a study from Deloitte, it is estimated that bringing a new drug to market can cost almost $2 billion (as of 2018). While the costs to develop assets are rising, the value per asset continues to decline with pricing pressures coming from every direction and increased competition in the market from expiring patents and less innovative products entering the market. This means every month spent on development could mean millions of dollars in unrealized revenue – revenue that is key to achieving an attractive ROI.
However, there is a silver lining as that same Deloitte study highlights that smaller firms outperform larger peers by nearly 400%. Large pharmaceutical companies project a 3.2% return, while smaller firms project nearly 12%.
How do these firms outperform their larger predecessors? Many are winning by not just innovating their product, but the most sophisticated firms are developing organizations built for speed, agility, and cost-efficiencies across the development lifecycle to be successful.
To learn more about how to build your biotech organization to scale quickly and maximize value, listen in above to industry leaders as they share processes and tools that will help you develop the right team to accelerate your development and go-to-market strategies in order to get your assets in the hands of patients that need them as fast as possible.
You’ll leave with an understanding of who the right people are to have on your team, where you need them and when to scale your team effectively to maximize efficiency, based on a combined 50+ years of experience getting drugs to market.