One of MassBio’s Impact 2020 report’s key recommendations is for MassBio to begin driving the conversation on defining value and reward for innovation. To start the conversation, MassBio is hosting a three-part Forum series this fall focused on value. The series kicked off earlier this month, and the next session is on November 20th. In the meantime, we’re pleased Leora Schiff was willing to share her perspective with us!
By Leora Schiff, Principal, Altius Strategy Consulting
The biotechnology and pharmaceutical industries are undergoing rapid, disruptive changes that will require rethinking of fundamental assumptions regarding the value of therapeutics and the nature of healthcare delivery. Increasingly, market power is being shifted away from physicians and payers towards patients and caregivers, professional organizations and newer stakeholders including accountable care organizations (ACOs), and pathway companies. In addition, all stakeholders are becoming more sophisticated and demanding in terms of their expectations related to the benefit-risk and benefit-cost calculations for drugs.
The price-protective nature of the US market is coming increasingly under fire. In addition to health insurers, ACOs, pathway companies and professional organizations are weighing in on the need for cost-effective treatments to improve patient outcomes and control ballooning health-care costs. Patients are also becoming more aware of the comparative price of care as they are increasingly asked to share the cost of healthcare through increased insurance premiums, large deductibles and more substantial co-payments.
As the concepts of patient-centered healthcare make their way into clinical practice, physicians are being encouraged to consider not just the patient’s clinical situation, but also the patient’s lifestyle, beliefs, financial situation and appetite for risk versus potential clinical and/or quality of life reward in selecting the best treatment choice to meet patient needs.
What does this mean for biotechnology and pharmaceutical companies?
Given these changes, it is no longer possible for biopharmaceutical companies to assess product opportunities and project future product pricing and revenues based simply on broad categories of comparable therapeutics and order of market entry. In the new era of value demonstration, drugs are being evaluated in the context of the current standard of care and the additional benefit that they provide – or not – in terms of efficacy, safety, patient quality of life and cost.
One of MassBioEd’s most popular courses, Biotech 101 for Non-Scientists is being offered THIS WEEK Sept. 18 – 19, and also this winter, December 4 – 5!
To register for FALL, click here.
To register for WINTER, click here.
**MassBio members get a $150 discount on registration**
Are you new to the life sciences industry? Do you need to have a better understanding of the science and technology driving the industry? Biotech 101 is a course designed specifically for the non-scientists. The program covers two full days of biotechnology information for non-science professionals who may be working on looking to work within a science-based industry.
Participants will benefit from several hands on activities using Lego DNA models, Agarose Gels, in addition to a DNA exercise featured here: http://youtu.be/JwRs2agM3Lk
Don’t miss the Fierce 15!
John Carroll, Editor-in-Chief of FierceBiotech, will be giving a live announcement of the Fierce 15 at BioPharm America again this year! The Fierce 15 is a hunt that involves the biggest ideas in biotech, the most daring characters in biopharma, and entrepreneurs doing things that haven’t been done before. The Fierce 15 will include drug developers or platform biotechs with the potential to have a huge impact on the treatment of human diseases. Be there when the news breaks!
Check out the keynote & opening plenary!
The Keynote Address will be given by Gary Nabel, Chief Scientific Officer at Sanofi, and will also join the Opening Plenary.
These are exciting times, because pharma companies are going back to their roots. There’s been a major shift toward external innovation and data-driven science that guides the development of new medicines. For academic research, we see more collaboration at earlier stages. For biotech, we see relationships built at different points in the evolution of new medicines, and we are using structures and support that incentivize both partners to achieve success,” said Nabel.
The Opening Plenary will address “Getting real: Biopharma innovation and its impact on patients” with:
- Barry Greene, President and COO at Alnylam Pharmaceuticals
- Adam M. Koppel, Senior VP and Chief Strategy Officer at Biogen Idec
- Richard Pops, Chairman and CEO at Alkermes plc.
- Karen Bernstein, Co-Founder, Chairman, and Editor-in-Chief at BioCentury (Moderator)
Global pharmaceutical companies already confirmed to send business development teams to BioPharm America include AstraZeneca; Bayer HealthCare; Bristol-Myers Squibb; EMD Serono; Merck; Novo Nordisk; Sanofi; and Shire.
BioPharm America, being held September 22-24 in Boston, is where biotech industry partnerships get started. Meet face-to-face with biotech and pharma executives from around the world to identify and enter strategic relationships. Equipped with partneringONE®, the world’s leading web-based partnering system for the life science industry, BioPharm America is the only event in North America based on the same reputable formula as EBD Group’s acclaimed European events BIO-Europe® and BIO-Europe Spring®.
Partnering, facilitated by EBD Group’s online partnering system partneringONE®, is the most efficient way to find and meet the right people for your company’s collaborative aims.
11 meetings in 2½ days
The average company has 11 meetings with existing and potential partners, customers and clients in 2½ days.
Benefits of partneringONE®:
- Conduct more meetings at one conference than in the rest of the year
- Contact existing and potential partners prior to the conference
- Manage all your conference activities in one place
- Your meetings will be prescheduled to maximize your time on site.
***MassBio members get $200 off – mention Massbio in the registration comments field!***
“We had a first partnering meeting with Teva at this conference a year ago. At this year’s event we are announcing the closing of a deal with Teva worth a potential $165M. That is what I call a return on investment in a conference!”
– CEO, Rexahn Pharmaceutical
“Partnering starts with science scouts who are trolling their territories to find gems for us. These kinds of candidates are here, giving us the opportunity to screen 20 potential investment opportunities in a very short period of time. Doing this otherwise would require significant travel and time.”
– Executive Director, Corporate Licensing, Merck & Co.
“Four people from my company were attending one-to-one meetings at the event seeking out opportunities to build up companies and novel programs from scratch. “
– Life Sciences Partner, Atlas Venture
The BioPharm America 2014 Program Overview is now available online!
MassBio members save $200 on registration! Be sure to mention MassBio in the registration comments field!
BioPharm America is where biotech industry partnerships get started. Meet face-to-face with biotech and pharma executives from around the world to identify and enter strategic relationships. Equipped with partneringONE®, the world’s leading web-based partnering system for the life science industry, BioPharm America is the only event in North America based on the same reputable formula as EBD Group’s acclaimed European events BIO-Europe® and BIO-Europe Spring®.
Keynote speakers include:
Flemming Ornskov, CEO of Shire
Gary Nabel, CSO of Sanofi
Sessions will cover:
- The Perfect Pitch: Do you Have What it Takes to Win Over Investors?
- How Unconventional Pharma & VC Collaborations are Expanding R&D Budgets
- The Pressures of Being an Early Stage Public Company
- Clinical Outlook for New Immuno-Oncology Treatments
- Key Partnerships in Advanced Therapies: Pharma May Have Company
- The Power of the Patients: How Patients are Getting Things Done in the Drug Development Process
- And more!
BioPharm America™ 2013 Highlights
- 900+ attendees
- 2,950 one-to-one meetings
- 757 licensing opportunities posted
- 550 companies
- 75 company presentations
- 15 exhibitors
- 35 countries represented
- 20 workshops and panels