Risky Business – The Future of Biopharmaceutical Innovation
Saturday, January 27, 2018, 11:00 AM - 5:00 PM
The New York Academy of Sciences, 7 World Trade Center, 250 Greenwich St Fl 40, New York, USA
Biopharmaceutical companies make some of the biggest and most risky gambles of any industry, as each new drug ultimately requires multi-billion-dollar investments that can take more than a decade to play out. During this time, profound changes may occur; Internal portfolios wax and wane, competitor innovations emerge, regulatory & commercial frameworks reshape the playing field, and in some cases therapeutic advancements move the pitch to a new field altogether.
In such an uncertain landscape, companies are constantly rethinking their strategy, and how they can take advantage of technical advancements to build innovation models that are fit for the future. With the emergence of open innovation networks, what will be the role for in-house R&D? What will the future of biopharma innovation look like?
This half-day workshop is directed at graduate students, postdocs, and others with an interest in understanding the innovation dynamics of the biopharmaceutical industry. It will provide a snapshot of how investment decisions are taken--beating competitors to a lucrative deal--and the challenges the industry faces. Using a competitive board game that has been developed specifically to mimic the pharmaceutical industry past and present, participants will take on the role of an executive team of a mid-size company. As a management team, they will develop, execute, alter their strategy in response to successes and failures, and pounce on the missed opportunities of others. At the end of the workshop, the winning team will be invited to share their strategy. Major lessons learned and key questions for the future will be summarized and opened for discussion.
Using a uniquely immersive and playful format, this workshop will guide you through the industry's past and present, and invite you to ponder the possibilities that lie in the future. Join a diverse group of participants across industry, academia, and healthcare to explore the "risky business" of the biopharmaceutical industry!
"Risky Business leads participants through the multifaceted process of drug development and enables them to understand it much more effectively and profoundly than any power–point presentation possibly could. It's demanding – and fun."
"Risky Business is an engaging workshop format for strategic dimensions of the pharmaceutical industry. It is at the same time a team event, a competitive challenge and most importantly a highly relevant program. The game provided our researchers with a hands–on experience of R&D, Business Development & Licensing as well as executive level decision making."
"The 'Risky Business Game' is an enjoyable simulation of drug development and marketing. Demanding skills like strategic thinking, teamwork and evaluation of business risks, it realistically mimics the portfolio management situation of the pharmaceutical industry. In a relaxed atmosphere it trains the player for process analysis and decision-making, based on real facts. It is a valuable experience that helps one understand the complex nature of processes used every day in the Pharma business."
The Risky Business workshop was developed by Catenion, a global strategy consultancy with the largest team exclusively focused on Biopharma R&D. The workshop is led by Dr. Graham Scholefield, and Dr. Matthias Krings from Catenion, as well as several of their colleagues.