Strategic Alliance Magazine Q2 2017 - 24
C A S E S T U D Y : B AY E R
management capability across dimensions such as strategy, culture, and execution. This often boils down to the
inability of even very smart, experienced people to conduct business when challenged by the inherent
differences and complexity that come into play in a
two-company system.
In contrast, a mature alliance management capability-
both within and outside of the alliance management
organization-dramatically improves partnership success rates. This is a crucial consideration as life sciences
organizations increasingly place partnerships at the
core of their strategy. These partnerships occur across a
wide variety of contexts-for instance, a large biopharmaceutical company partnering with an academic
research organization, or one small biotech partnering
with another. Such partnerships are frequently sharedrisk, shared-reward asset deals, which often involve a
smaller inventor company with a late-stage asset (approaching Phase 2 or later) partnering with a large
industry player. This usually comes about because later-stage development and/or commercialization is
likely to stretch the inventor company's resources, requires expertise that the inventor does not have, or
requires access to markets in which it is not yet present.
Partnering offers upsides to both companies, and many
of the most successful pharmaceutical brands have been
launched by a partnership: Lipitor (Warner Lambert/
Pfizer), Celebrex (Searle/Pfizer), Avapro (BMS/Sanofi),
Plavix (BMS/Sanofi), Xtandi (Medivation/Astellas). In
Bayer's experience, many larger products are developed
and marketed through partnerships, and several are
global blockbusters such as Xarelto (partnered with
Janssen) and Eylea (partnered with Regeneron) (see
Figure 1).
People new to partnerships often wonder whether it is
harder or easier to realize the full potential of a partnered asset. The honest answer to this question is
probably both (see Figure 2).
SINCE
JOINT
INVESTMENT
(Indications brought
to market)
2016
WORLDWIDE
REVENUE
2005
DVT Prophyllaxis
> $4 billion
PARTNERSHIP
ALLIANCES
IN BAYER
Partnerships play an
increasingly important role
in Bayerʼs corporate
success:
Recent growth has
been driven by
strategic alliances
Janssen
Pharmaceuticals
for Xarelto
Risk Reduction of
Stroke/Systemic
Embolism in
Nonvavular AFib
PE Treatment
More than half of
Bayer's 15 best-selling
pharmaceutical products
are through collaboration,
with Xarelto and Eylea
being examples of
long-standing highly
successful alliances
Regeneron
for Eyelea
2006
Macular Edema
Following RVO
Diabetic Macular Edema
Diabetic Retinopathy
Figure 1
24
STRATEGIC ALLIANCE MAGAZINE | Q2 * 2017
Wet Age-Related
Macular Degeneration
> $5 billion
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