![Available Sources of Information
▪ Clinicaltrials.gov (details on clinical studies)
▪ Average Selling Price (ASP) data for Medicare Part B drugs
▪ PubMed (publications)
▪ FDA (e.g. post-approval documents, FDA Adverse Event Reporting System [FAERS])
▪ LinkedIn (company personnel profile and experience, hiring patterns)
▪ Secondary databases (IQVIA, Cortellis, Informa, etc.)
▪ Company disclosures (press releases, financial reports, etc.)
▪ Social media (Twitter, LinkedIn, Sermo, etc.)
▪ Much, much more available!
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![Preparation for Market Simulation
Exercises
▪ Compile latest information and analyses of the competitor(s) plus any anticipated
relevant changes in the environment (e.g. changes to reimbursement, guideline
changes, etc.)
▪ Set a defined set of competitor(s) and relevant time frame (e.g. 6 – 12 months
around launch period)
▪ Define the focus of the business issues to be addressed in the simulation (e.g. how
will Competitor X respond to our entry to the [market segment] of the business?)
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Performing Competitive Intelligence in a Pharmaceutical Company
- 1. Performing Competitive Intelligence in a Pharmaceutical Company Tony Russell, PhD, MBA Senior Director, Product Strategy and Commercial Planning Theravance Biopharma US, Inc. 1
- 2. Disclaimer ▪ The views and opinions expressed are solely those of the speaker and do not represent those of my current or previous employers 2
- 3. Tony Russell, PhD MBA Background and Experience Year Company Position 2015 – Present Theravance Biopharma US, Inc. Product Strategy and Commercial Planning 2010 – 2015 Alder BioPharmaceuticals Commercial Strategy 2007 – 2010 ZymoGenetics (acq. BMS) Medical Affairs 2006 – 2007 ICOS (acq. Eli Lilly) Strategic Marketing 2004 – 2006 Corus Pharma (acq. Gilead Sciences) Product Management 2000 – 2004 Amgen Medical Affairs 1999 – 2000 Baxter Global Marketing 3 https://www.linkedin.com/in/arussellbiotech/
- 4. Learning Objectives ▪ Describe why competitive intelligence is needed in the pharmaceutical industry ▪ Describe the difference between information and intelligence ▪ Describe the key steps in the process of conducting competitive intelligence ▪ Describe example sources of competitive information readily available in the pharmaceutical industry ▪ Describe market simulation exercises and utility in business planning 4
- 5. Workshop Agenda ▪ Defining Competitive Intelligence in the Pharmaceutical Industry ▪ Differences Between Competitive Information and Intelligence ▪ Conducting Competitive Intelligence ▪ Introduction to Wargames / Market Simulations ▪ Careers in Competitive Intelligence 5
- 6. Defining Competitive Intelligence in the Pharmaceutical Industry Section 01
- 7. Basic Definitions of Competitive Intelligence (CI) ▪ Competitive Intelligence (CI) is the collection and analysis of information to anticipate competitive activity, see past market disruptions and dispassionately interpret events.* ▪ It is an essential component to developing a business strategy. CI analysis provides insight into marketplace dynamics and challenges in a structured, disciplined, and ethical manner using published and non-published sources.* 7 * From Fuld+Company (https://www.fuld.com/what-is-competitive-intelligence/)
- 8. Defining Competitive Intelligence ▪ Competitive Intelligence is: 8 • Not spying • Not a crystal ball • Not a simple Google search • Not one-size fits all • Not useful if no one is listening • Not a job for one, smart person • Not a fad • Not driven by software or technology • Not based on internal assumptions • Not a spreadsheet From Fuld+Company (https://www.fuld.com/what-is-competitive-intelligence/)
- 9. Phase 1 • Checking for safety Phase 2 • Checking for efficacy Phase 3 • Confirm efficacy in large population Phase 4 • Test long- term safety in diverse population Long Development Timelines Require Deep Competitive Insights 9 ~10 Years (average) Adapted From Allianz Global Corporate & Specialty (AGCS) (https://www.agcs.allianz.com/assets/PDFs/GRD/GRD%20individual%20articles/GRD_02_09_en%20Clinical%20Trials.pdf)
- 10. Significant Expense & Risk in Drug Development Require Deep Competitive Insights 10 From PhRMA (https://www.phrma.org/graphic/the-biopharmaceutical-research-and-development-process) From drug discovery through FDA approval, developing a new medicine takes at least 10 years on average and costs an average of $2.6 billion. Less than 12% of the candidate medicines that make into Phase 1 clinical trials will be approved by the FDA.
- 11. Competition Can Come From a Variety of Sources (Not Just the “Other Company”) 11 Rivalry Among Existing Competitors Threat of New Entrants Bargaining Power of Buyers Bargaining Power of Suppliers Threat of Substitute Products From “The five competitive forces that shape strategy.” Porter ME. Harvard Bus Review. (https://hbr.org/2008/01/the-five-competitive-forces-that-shape-strategy)
- 12. Competition Can Come From a Variety of Sources (Not Just the “Other Company”) 12 Rivalry Among Existing Competitors Threat of New Entrants Bargaining Power of Buyers Bargaining Power of Suppliers Threat of Substitute Products From “The five competitive forces that shape strategy.” Porter ME. Harvard Bus Review. (https://hbr.org/2008/01/the-five-competitive-forces-that-shape-strategy)
- 13. Competition Can Come From a Variety of Sources (Not Just the “Other Company”) 13 Rivalry Among Existing Competitors Threat of New Entrants Bargaining Power of Buyers Bargaining Power of Suppliers Threat of Substitute Products From “The five competitive forces that shape strategy.” Porter ME. Harvard Bus Review. (https://hbr.org/2008/01/the-five-competitive-forces-that-shape-strategy)
- 14. Competition Can Come From a Variety of Sources (Not Just the “Other Company”) 14 Rivalry Among Existing Competitors Threat of New Entrants Bargaining Power of Buyers Bargaining Power of Suppliers Threat of Substitute Products From “The five competitive forces that shape strategy.” Porter ME. Harvard Bus Review. (https://hbr.org/2008/01/the-five-competitive-forces-that-shape-strategy) Ex: Consolidation of pharmacy benefit management companies
- 15. Competition Can Come From a Variety of Sources (Not Just the “Other Company”) 15 Rivalry Among Existing Competitors Threat of New Entrants Bargaining Power of Buyers Bargaining Power of Suppliers Threat of Substitute Products From “The five competitive forces that shape strategy.” Porter ME. Harvard Bus Review. (https://hbr.org/2008/01/the-five-competitive-forces-that-shape-strategy) Ex: Biosimilars / generic Rx / Gene therapy
- 16. Competition Can Come From a Variety of Sources (Not Just the “Other Company”) 16 Rivalry Among Existing Competitors Threat of New Entrants Bargaining Power of Buyers Bargaining Power of Suppliers Threat of Substitute Products From “The five competitive forces that shape strategy.” Porter ME. Harvard Bus Review. (https://hbr.org/2008/01/the-five-competitive-forces-that-shape-strategy) Ex: Patients’ increased cost exposure
- 17. Why Competitive Intelligence is Critical in the Pharmaceutical Industry ▪ Anticipate competitor moves and avoid launch pitfalls ▪ Proactively build barriers to competition ▪ Revise business strategy in realtime to respond to rapidly to competitive dynamics 17 ▪ Impact of Getting it Right
- 18. Why Competitive Intelligence is Critical in the Pharmaceutical Industry ▪ Maintaining harmful blindspots by using CI to validate pre-conceived ideas about the marketplace ▪ Underestimating the competition and failing to anticipate marketplace disruption leading to poor sales performance ▪ Being myopic and failing to see competitive threats from other sources leading to business disruption 18 ▪ Impact of Getting it Wrong
- 20. Competitive Information in Insolation May Only Illustrate Part of the Picture 20 Publications Customers New Hires Trade Shows Investor Relations Vendors Social Media Information Bits From Different Sources
- 21. Competitive Intelligence: Art of Making Sense of All of the Information 21 Benefits of analyzing the information into a coherent pattern: • Construct different potential scenarios for planning purposes • Construct different hypotheses that can be tested (e.g. additional gathering of information, market research, etc.)
- 22. Example Case Study & Discussion ▪ Business Issue: A pharmaceutical company is looking into converting bioreactors over from one product line to another product line in a lucrative, but competitive space. The company needed to understand what capacity they needed to anticipate given what their major competitor was planning to do in terms of manufacturing capacity. Critical not to over- or under-supply the market. ▪ Questions: ▪ What is the potential manufacturing capacity of the competitor? ▪ When is the competitor planning to ramp up manufacturing? ▪ Sources of Information: ▪ Building plans and permits, bioreactor specifications, earnings call transcripts, raw material suppliers, hiring plans 22 For illustrative purposes only and does not represent a real business situation or any specific set of products
- 24. Defining Rules of Engagement ▪ Competitive intelligence is NOT dumpster diving or cloak and dagger methods live you see in the movies ▪ Strategic and Competitive Intelligence Professionals (SCIP) Code of Ethics: ▪ To continually strive to increase the recognition and respect of the profession. ▪ To comply with all applicable laws, domestic and international. ▪ To accurately disclose all relevant information, including one's identity and organization, prior to all interviews. ▪ To avoid conflicts of interest in fulfilling one's duties. ▪ To provide honest and realistic recommendations and conclusions in the execution of one's duties. ▪ To promote this code of ethics within one's company, with third-party contractors and within the entire profession. ▪ To faithfully adhere to and abide by one's company policies, objectives and guidelines. 24 From Strategic and Competitive Intelligence Professionals (SCIP) Website: https://www.scip.org/page/CodeofEthics
- 25. Using Competitive Intelligence to Drive Business Decisions (Examples) ▪ Early Development (e.g. Phase 2) ▪ Information needed to influence go / no-go decisions as well as design of future clinical studies ▪ Examples: clinical development details on competitors ▪ Pre-Launch (e.g. prior to FDA approval) ▪ Information needed to modify positioning and messages needed for a successful launch ▪ Examples: competitor messaging, changes in promotional material ▪ Post-Launch / Defending Position ▪ Information needed to defend leading position from emerging competitors ▪ Examples: patent litigation efforts, generic manufacturing details 25
- 26. Process of Performing Competitive Intelligence 26 From Finegold et al. (2005) “How to conduct competitive intelligence in your biotech startup.” Bioentrepreneur. Published online: 25 April 2005 • Start with Intelligence Requirements • Develop key intelligence questions / topics • Collection Plan will depend on the Intelligence Requirements • Reporting on CI : make the report relevant, timely, and to the right person • Conducting CI is an iterative process
- 27. Best Practices: Development of KIQs/KITs ▪ Dangers of asking ill-prepared questions: ▪ Vagueness: “What are our competitors doing?” ▪ Non-Actionable: “Who is the CEO?” ▪ Non-Relevant: “Who is their Advertising Agency?” ▪ The right questions build from the intelligence requirements: ▪ Important to spend time upfront developing Key Intelligence Questions (KIQs) and Key Intelligence Topics (KITs) ▪ Need to be specific and actionable for the strategy ▪ Important when working with external CI agencies ▪ Critical to have cross-functional input 27
- 28. Examples of KIQs / KITs ▪ When will the Phase 2 results be made available? Any expected upcoming congresses and which one? Publication planned? ▪ What are the goals of Company X for Product X (i.e. Company to launch, partner with another company, straight out-license of Product X)? ▪ Plans and designs of the upcoming Phase 3 study (start, dose(s), regions, patient population, etc. ▪ Patient recruitment status for the study (behind, on-track, ahead of schedule)? 28 Actual KIQs used in projects (specific company and product information removed)
- 29. Group Exercise: Developing KIQs / KITs 29 • Dunkin' Donuts has focused on becoming a cost leader in the U.S. coffee and snack shop industry which is defined as “offering the same or better quality product or service at a price that is less than what any of the competition is able to do.” • Although Dunkin' Donuts has a strong presence in Northeastern U.S., they do not have a strong presence in other areas of the country. By 2020, however, they plan to have a total of 15,000 stores in the United States which would almost double their current U.S. presence. • Starbucks has implemented a product differentiation strategy to attract customers from their competitors. “Our coffeehouses have become a beacon for coffee lovers everywhere. Why do they insist on Starbucks? Because they know they can count on genuine service, an inviting atmosphere and a superb cup of expertly roasted and richly brewed coffee every time. We’re not just passionate purveyors of coffee, but everything else that goes with a full and rewarding coffeehouse experience” VS. From https://sites.google.com/site/starbucksanddunkindonuts/business-strategy
- 30. KIQs / KITs Exercise Instructions ▪ Role-play as the assigned company (YOU are the Product Marketing Team) ▪ If you are Dunkin’ Donuts, assume you are the Underdog going after Starbucks ▪ If you are Starbucks, assume you need to defend your hard fought-after market ▪ Within the given scenario, develop a set of KIQs / KITs that you believe will be important for the development of your go-to-market strategy ▪ Teams will present their set of KIQs / KITs 30
- 31. KIQs / KITs Teams 31 Scenarios Competitor entry into specific sub- markets (e.g. geographical region) Team 1 (Entering New Regional Markets) Team 2 (Defense) Launch of new product offering (e.g. Unicorn Frappuccino, Pumpkin-Flavor, Maple-Pecan- Flavor) Team 3 (Introducing New Products) Team 4 (Defense) Launch of re-branding (“Dunkin” instead of “Dunkin Donuts” – focus on coffee) Team 5 (National Marketing Campaign to Win Coffee Drinkers) Team 6 (Defense)
- 32. Defining Primary and Secondary Sources Primary Sources ▪ Direct evidence / first-hand information ▪ Examples: ▪ Direct conversations with key sources of information (e.g. clinical trial coordinator, VP of Sales, etc.) – Human Intelligence ▪ Financial disclosure documents ▪ Company presentations to investors ▪ Patent filings Secondary Sources ▪ Aggregation or interpretation of primary information ▪ Examples: ▪ Drug information databases (e.g. Cortellis, Informa) ▪ Syndicated market research reports (e.g. Datamonitor) ▪ News trackers and aggregators ▪ Financial analyst reports 32
- 33. Information Readily Available Due to Transparency in the Pharma Industry ▪ Increases in the transparency of the pharmaceutical industry has provided valuable competitive information sources ▪ Examples of transparency mechanisms and source of information: ▪ Posting of clinical trial information (www.clinicaltrials.gov) ▪ Availability of physician payments and disclosures to CMS (via the Sunshine Act) ▪ Posting of Medicare Part B drug average sales price. Expect to see continued transparency in the industry (e.g. on-going issue about disclosing drug prices in television advertising) 33
- 34. Available Sources of Information ▪ Clinicaltrials.gov (details on clinical studies) ▪ Average Selling Price (ASP) data for Medicare Part B drugs ▪ PubMed (publications) ▪ FDA (e.g. post-approval documents, FDA Adverse Event Reporting System [FAERS]) ▪ LinkedIn (company personnel profile and experience, hiring patterns) ▪ Secondary databases (IQVIA, Cortellis, Informa, etc.) ▪ Company disclosures (press releases, financial reports, etc.) ▪ Social media (Twitter, LinkedIn, Sermo, etc.) ▪ Much, much more available! 34
- 35. Social Media Tracking Tools for Pharma CI 35 Hootsuite (https://hootsuite.com) Mentionmapp (http://analytics.mentionmapp.com) Hootsuite: Social Media Dashboard Mentionmapp: Influence Map of Twitterverse The tools above are included for reference and illustrative purposes only and are not meant to infer any specific product endorsement
- 36. Reporting CI: Make it Relevant, Timely, and to the Right Person ▪ Develop a dashboard / template to capture key analyses from emerging competitive information ▪ Communicate key analyses in a simple, easy-to-digest format ▪ Be prepared to provide more in-depth reports upon request 36 From http://www.allthingy.com/data-information-knowledge-wisdom/
- 37. More Tips on Reporting CI ▪ Align the analyses to key strategic business issues ▪ Integrate the reporting into key strategic business discussions, evaluations, and planning ▪ Develop a feedback-loop to help address emerging questions resulting from new findings ▪ Ensure the reports / alerts are being sent to the key stakeholders 37
- 38. Mistakes to Avoid When Reporting CI ▪ Overload of Information Communication ▪ Sending large volumes of information too frequently (and typically without context) ▪ Example: “Vomit Reports” – Reports that are dense and contain large amounts of information, but no analysis ▪ Lack of Focus and Timing ▪ Unclear analysis of the information tied to specific strategic issues in a timely fashion (e.g. not tied to strategic planning process) 38
- 39. Mistakes to Avoid When Reporting CI ▪ Introduction of Bias ▪ Emphasizing or de-emphasizing competitive findings to fit pre-conceived conclusions (often held by internal teams or senior management) ▪ Findings Not Getting to the Right People ▪ Reports not being sent to key stakeholders within the organization (decision makers) 39
- 40. How to Engage with CI Firms Effectively ▪ Evaluating CI Firms’ Capabilities ▪ Therapeutic expertise / focus (e.g. Oncology, Cardiology) ▪ Scientific and business acumen ▪ Use of Request for Proposals (RFPs) with CI Firms ▪ Use KIQs / KITs to set the scope of the project 40
- 41. How to Engage with CI Firms Effectively ▪ Execution of a Project with a CI Firm ▪ Use regularly scheduled update meetings to follow progress ▪ Ask refining questions along the way as project is being executed ▪ Closing Out a Project ▪ Set clear goals for deliverables ▪ Ask the firm what they thought were the most surprising / unexpected findings 41
- 42. How to Do CI on a Limited Budget ▪ Many information resources / tools are readily available and free ▪ Constantly look for new sources of information (e.g. don’t just use Google!) ▪ Use available software (Excel, Access, etc.) to track findings and set reports 42
- 43. How to Do CI on a Limited Budget ▪ Enlist others within the organization (and outside of your function) to help augment the information collection process (and be sure to share findings) ▪ Engage with your network of external experts (e.g. customers, thought-leaders, etc.) ▪ Be prudent with budgets when engaging with CI firms (e.g. don’t “double-up” at trade-shows / conferences unless critical) ▪ Partnering with CI firms can be a cost-effective way to augment internal capabilities with external expertise in specific forms of market intelligence 43
- 45. What is Wargaming? ▪ A strategic simulation exercise that allows a company to pressure-test key strategic assumptions and plans before execution ▪ Goal is to understand potential competitive consequences based on strategic choices ▪ When conducted properly, the conduct of strategic simulations allows companies to revise strategies or develop different strategic “playbooks” in anticipation of potential competitive scenarios ▪ Goal is anticipate potential competitor(s) moves and develop best-course actions and reactions 45 A victorious army wins its victories before seeking battle; an army destined for defeat fights in the hope of winning. -- Sun Tzu
- 46. Effective Use of Simulation Exercises in Business Decisions • Validate / invalidate strategies for scenarios such as: pre-launch, anticipation of new entrants, etc. Pressure-test core strategic assumptions before execution • Raise awareness of competitor’s strengths vs. company’s weaknesses Openly discuss and evaluate potential blind-spots 46
- 47. Effective Use of Simulation Exercises in Business Decisions 47 • Develop new strategies to counter Anticipate potential competitor moves • Establish rapid responses to address different competitor scenarios Develop set of “playbooks” to address competitor uncertainty
- 48. Game Theory and Wargaming – Look Forward and Reason Backward to Anticipate Competitor Moves 48 The Prisoner's Dilemma (A Basic Example of Game Theory) • Two men are arrested by the police on suspicion of committing the same crime. They are questioned by the police in separate rooms. To convict them, the police need testimony from at least one of them. Both are rational, and value their personal freedom more than the other's. They have two options ― to confess or remain silent. If one confesses and the other remains silent, he (who remained silent) will have to serve the full tenure of punishment. On the other hand, if both confess and accuse the other to be a culprit, they'll share the sentence of imprisonment, that will be lesser than the full term. However, if both remain silent, due to a lack of evidence, the police will have to sentence both to a much lesser period. • Thus, the best option for both suspects is to remain silent and not testify against the other. However, neither of them know what the other will say, and a lack of trust and confidence in the other accomplice may compel one of them to testify rather than remain silent. They're faced with this dilemma, since there is a risk of the other partner testifying against if the other one remains mum. If they have mutual trust, it will be easy for them to have a win-win situation by staying mum. Suggested Reading: “Prisoner's Dilemma: John von Neumann, Game Theory, and the Puzzle of the Bomb” by William Poundstone “The Art of Strategy: A Game Theorist's Guide to Success in Business and Life” by Avinash K. Dixit and Barry J. Nalebuff
- 49. Preparation for Market Simulation Exercises ▪ Compile latest information and analyses of the competitor(s) plus any anticipated relevant changes in the environment (e.g. changes to reimbursement, guideline changes, etc.) ▪ Set a defined set of competitor(s) and relevant time frame (e.g. 6 – 12 months around launch period) ▪ Define the focus of the business issues to be addressed in the simulation (e.g. how will Competitor X respond to our entry to the [market segment] of the business?) 49
- 50. Preparation for Market Simulation Exercises ▪ Enlist participation across the organization (do not have only one function in the workshop); include Sales, Marketing, Medical Affairs, Clinical Development, Regulatory, Market Access, etc. ▪ Prepare participants to think like the competition ▪ Emphasize the importance of open thinking (e.g. point out blindspots, acknowledge competitive weaknesses, etc.) ▪ Obtain support from senior management to help provide weight to the exercise 50
- 51. Conducting a Market Simulation Exercise ▪ Assign participants to teams (Competitor X, Competitor Y, etc.) ▪ Make sure there is a balance of functions represented within each team ▪ Level-set the participants on key business assumptions and core strategies ▪ Example Market Simulation Exercise: 51 Round #1 •Roleplay as Competitor •Describe strengths and weaknesses for Competitor’s product Round #2 •Roleplay as Competitor •Define a plan to attack / defend against the Company’s product Round #3 •As the Company •What are the challenges and opportunities for the Company’s product given Rounds #1 & 2 Round #4 •As the Company •Which key challenges and opportunities should be prioritized for additional work and planning
- 52. Group Exercise: Mini-Wargame ▪ Dunkin Donuts vs. Starbucks (same teams, same scenarios) ▪ Exercise Instructions: 1. As the Company, define (briefly) your strategy /goals within the context of the scenario 2. As the Company, define (briefly) your strengths and weaknesses 3. Roleplaying as the Competition, define (briefly) your strengths and weaknesses 4. Roleplaying as the Competition, describe 1 – 2 tactics to attack or defend the Company 5. As the Company, identify 1 – 2 threats or opportunities based on the roleplaying steps above 6. As the Company, describe 1 – 2 suggested actions based on the assessment above 52
- 53. Market Simulation Teams 53 Scenarios Competitor entry into specific sub- markets (e.g. geographical region) Team 1 (Entering New Regional Markets) Team 2 (Defense) Launch of new product offering (e.g. Unicorn Frappuccino, Pumpkin-Flavor, Maple-Pecan- Flavor) Team 3 (Introducing New Products) Team 4 (Defense) Launch of re-branding (“Dunkin” instead of “Dunkin Donuts” – focus on coffee) Team 5 (National Marketing Campaign to Win Coffee Drinkers) Team 6 (Defense)
- 55. Foundation Skills of a CI Analyst ▪ Strong analytical and research skills ▪ Ability to understand, interpret, and present scientific / clinical data ▪ Strong background in life sciences and medical knowledge ▪ Ability to distill complex information into easy-to-understand reports ▪ Working knowledge of the regulatory processes and environment ▪ Good presentation and communication skills
- 56. Examples of Positions in CI 56 Senior Manager, Competitive Intelligence Competitive Intelligence Research Analyst- Life Sciences Manager, Market Intelligence The Senior Manager, Global Competitive Intelligence is a key contributor to Company X's competitive planning efforts to shape Company X's current and future commercial and developmental strategies. The role is a strategic thought partner and analytical expert to internal key stakeholders who will be the primary knowledge source for the competitive landscapes of interest. The Senior Manager will construct and implement competitive intelligence plans to deliver critical insights, anticipated market movements, and inform recommendations and plans that best position Company X in competitive markets. Agency Y Life Sciences division is currently seeking a full-time Research Analyst. The analyst will support the project team by researching, monitoring, and analyzing pharmaceutical industry activity, and assist in the creation of custom reports that summarize key events, identify market trends, and provide strategic insights to Agency Y’s clientele. This entry-level position requires rigorous attention to detail, acute organizational skills, and the ability to multi-task in a fast-paced environment. The ideal candidate will have extensive research and report-writing experience, possess a strong business acumen, and be an excellent communicator. This position is well- suited for recent graduates with some related pharma experience, graduate students, and post- doctorate fellows looking for an opportunity to transition to the business sector or life sciences industry. Translates data and information into intelligence that can be easily absorbed by various internal stakeholders to support enhanced decision making and create competitive advantage for Agency Z’s service offerings. Combines data from internal marketing and sales systems (e.g., salesforce.com) with external data sources (e.g., pipeline databases) to generate insights and provide guidance that helps business development teams focus sales efforts. Maps the clinical trial pipelines of biopharmaceutical companies to Acurian’s core services and experience to ensure marketing and business development teams have accurate projections of current and future business opportunities. Pharma / Biotech Competitive Intell. Agency Database / Aggregator
- 57. Career Pathways 57 Participate in training programs •SCIP CI 100 Bootcamp Internship at a Pharmaceutical Company •Short-term project-focus to build experience and gain exposure Start in an analyst position to build “on the job” CI skills •Build business acumen to combine with clinical skills / insights Attend conferences •Pharma CI USA Conference and Exhibition •SCIP Conference
- 58. Agency Career Progression / Opportunity 58 Entry Level • CI Agencies are always looking for hard working / smart graduates who want a career in consulting or pharma. • Most have completed Masters – PhD. • 1-2 years of experience Season Project Manager • Agency project managers have direct contact with mid to high level pharma executives. Often supporting largest brands in the world. • 3-5 years of experience Experienced Professional • Once a mastery of leadership, management, and therapeutic area experience has been developed a opportunities are endless. • 5-10+ years of experience
- 59. CI Analyst Skills are Transferable 59 Agencies Pharma
- 60. Competitive Intelligence is a Global Field 60 Growth in China and Emerging Markets will require talent with region-specific experience
- 62. Learning Objectives ▪ Describe why competitive intelligence is needed in the pharmaceutical industry ▪ Describe the difference between information and intelligence ▪ Describe the key steps in the process of conducting competitive intelligence ▪ Describe example sources of competitive information readily available in the pharmaceutical industry ▪ Describe market simulation exercises and utility in business planning 62
Editor's Notes
- #53: Example: Assigned Company: Starbucks As Starbucks, define (briefly) your strategy /goals within the context of the scenario As Starbucks, define (briefly) your strengths and weaknesses Roleplaying as Dunkin Donuts, define (briefly) your strengths and weaknesses against Starbucks Roleplaying as Dunkin Donuts, describe 1 – 2 tactics to attack or defend Starbucks As Starbucks, identify 1 – 2 threats or opportunities based on the roleplaying steps above As Starbucks, describe 1 – 2 suggested actions based on the assessment above