A successful biopharmaceutical company had previously commercialized a product in two distinct indications across two unrelated therapeutic categories. The company correctly believed that the product had additional applications in a number of other areas, both related and unrelated to their current commercial foci. Frankel Group was engaged to provide the company with strategic direction regarding how and when additional opportunities should be pursued.
Our client was a victim of its own success in that the robustness of the technology engendered divergent opinions regarding where the next opportunities should be pursued. One line of thinking was to focus exclusively in those therapeutic areas where the product was already a commercial success. Another line of thought desired to expand the organization’s capabilities into other therapeutic areas, some of which would take the company into new, unfamiliar areas with greater reward potential, but with greater development and commercial risk.
Approach and Resolution
Frankel Group performed a highly iterative, stepwise approach to gradually generate internal consensus on the blend of opportunities available to the company. Depth interviews with individuals and internal groups, coupled with primary and secondary market research to characterize the opportunities, were combined to develop a prioritized list of opportunities. Detailed market opportunity assessments were then performed on each of the selected opportunities and presented to the company. This led to the development of prioritized product development plans, commercialization asset assembly strategies (make, buy, lease, partner, etc.) and capital funding decisions. Based on these analyses, the company has successfully deployed a therapeutic area and customer channel migration strategy that blends development programs with their current therapeutic areas of expertise while also exposing the company to other areas with greater long term potential.