Effective partnering is essential for success in science mergers, acquisitions, alliances, and between departments, but partnering results often fall short. Managing partnering as if it were a project and better partnering meetings significantly improve partnering results.
“We just got acquired by a giant pharma company. They say they’re going to leave us alone. They just want to partner with us to learn about how we model our cells.”
“We’re partnering also, with a company like ours that focuses on Phase II arthritis drug development. I can’t imagine how we’ll keep track of who owns what.”
“And I can’t imagine how cross-company partnering could work. We can’t partner in our own company with the other departments that are supposed to work with us.”
In 2013, working in biotech and pharma means working with partnering. It’s not possible to read an industry publication or view a biotech association web site without encountering news about the latest deals, the most recent merger and alliance agreements.
We partner across companies because few if any large companies attempt to do discovery or Phase I work. We partner in alliances because we hope/expect that pooling our efforts will benefit us all. We partner between departments in our own organizations because our organizations are flat, decentralized. They lack the kind of formal hierarchy that works well for banks and insurance companies but would stifle the free-flowing communications and thinking necessary for drug development.