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Developing Excellence in Alliance
Date:12/18/2007

CHAPEL HILL, N.C., Dec. 18 /PRNewswire/ -- Many large companies depend on successful strategic alliance to develop and to maintain ever-expanding product portfolio. These alliances are developed to achieve common goals and objectives; for example, large pharmaceutical companies use in-licensing deals to tap into expertise of small biotech companies and in return they offer, much needed, capital, development expertise, and market insight to the smaller companies.

While strategic alliances are an important solution to maintaining and managing a successful product portfolio, competition to secure an alliance partner is increasing. The increased competition has brought out some pertinent questions - How to maintain and manage successful strategic alliance? What factors must a company look for in strategic partner? How to keep common objectives as focus of the alliance?

Best Practices, LLC's report, Developing Excellence in Alliance, answers most important questions around successful strategic alliance. The report focuses on two objectives: 1) to identify the factors that are most important to the success of strategic alliances; and 2) to explain why those factors are considered most important.

The study evaluates the significance of 10 areas that drive success in the establishment and evolution of alliances.

-- Strategic alignment

-- Cultural fit

-- Communication

-- Due Diligence

-- Negotiation

-- Decision-making process

-- Flexibility

-- Team Coordination

-- Resources

To meet these objectives, analysts at Best Practices, LLC surveyed and interviewed seasoned executives at 12 best-in-class pharmaceutical and biotechnology companies, and harvested their top-line tactics and proven best practices in developing and managing successful alliances.

Download a summary of this report, conducted by pharmaceutical benchmarking leader Best Practices, LLC, at http://www3.best-in-class.com/rr893.htm .

Some highlights of the key findings of the report are:

1- Personal relationship development skills in business development

personnel are critical to winning alliance deals with potential partner

companies.

2- Divergent approach to risk management in product development can cause

the most tension in product development alliance deals. These issues

must be managed carefully to avoid damage to the partnership.

3- Formal alliance goals and clear decision-making processes are essential

to marinating the health of relationships and alliance progress.

To get deeper insight of the critical factors involved in developing and maintaining excellence in alliance visit http://www3.best-in-class.com/rr893.htm or contact Cameron Tew at (919) 767-9246 or ctew@best-in-class.com .

About Best Practices, LLC

Best Practices, LLC, conducts work based on the simple yet profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies. Best Practices, LLC has been a leader in pharmaceutical research and consulting for nearly 15 years; our clients include 43 out of the top 50 pharmaceutical companies.


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SOURCE Best Practices, LLC
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