Learning the biopartnering game: How to achieve more from your biotech alliance

Recent advances in molecular science are expected to yield medical treatments targeted not just for individual ailments, but also for highly segmented patient groups. As they pursue this exciting vision, pharmaceutical and biotechnology (biotech) companies are actively engaging in alliances, according to BioPartnering 2004, a biotech industry survey from the IBM Institute for Business Value.

While large pharmaceutical companies once called the shots in the biopartnering game, today's biotechs have achieved a level of deal-making sophistication in keeping with their growing influence on the pharmaceutical industry. Still, less than half of respondents reported that their biopartnering alliances were successful. While 15 percent of alliance failures were attributed to reasons considered beyond the control of senior management, better alliance management practices could salvage 85 percent of the value now lost to failed partnerships -- a potential sum of US$2.7 billion.

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