ABSTRACT
Corporate partnering has been critical to biotech success. Partnering among biotechnology companies is a long-term commitment between two or more business entities who agree to combine their resources in pursuit of a common goal. There are a variety of information sources on biopartnering, including several consulting firms. Biopartnering is one of the ways of value creation, the others being going it alone, or purchasing an Intellectual property right, a tool, a bioassay and an animal model. The business development department uses a variety of partner identification tools to identify and evaluate potential partners. For example, they rely on industry contacts, use public and proprietary databases, study the potential partners’ web pages, and also attend specialized biopartnering conferences in search of interested parties. Strategic alliances in the biotechnology industry may acquire a number of different forms. In biopharmaceutical co-promotion agreements, the marketing authorization licensee agrees to have its product co-promoted by a partner, under the same brand, at the same price.
