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V.
Courtship: Do the Organizations Mesh? |
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Once you have effectively and objectively evaluated the potential partners, it is time to get to know the top choices better. At this point, it is necessary to determine if there is a good cultural, organizational, and philosophical match between the organizations. After all, we are looking for long-term relationships. Therefore, we need to understand and know each other. |
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Before embarking on an in-depth assessment of potential partners, it is necessary to gauge the level of commitment of your own organization. Is your organization ready, willing, and able to commit time, money, and effort to an alliance for the long term? Once your own internal level of commitment has been firmly established, then, it is time to start looking at potential partners very carefully. |
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In evaluating each potential partner, it is essential to gain an understanding, to the extent possible, of the level of internal commitment of your potential partner(s) to a possible alliance. If you can find any doubt in the management of either organization that partnering is a good idea, that is good enough reason to look for a different partner or abandon the idea of an alliance, joint venture, or partnership all together. |
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Most of the work done so far has been at arm's length, focused on internal efforts. Now is the time to make an effort to go out and visit the potential partners to see if they are really interested in working with you. All of these discussions are of a nonconfidential nature to determine levels of interest, corporate synergy, and compatibility of personal chemistry. These areas are not easily quantified, but can be assessed based on |
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historical growth trends, |
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development project mix and R&D strengths, |
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marketed product mix and proprietary market position and/or protection (i.e., therapeutic areas, branded, generics, injectables, topicals, OTC, etc.), |
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company size (number of people and annual sales), |
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company financial situation, |
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geographic base (i.e., where is the home office: U.S., Europe, Japan, etc.), |
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corporate structure (number of managerial layers, divisional structure, etc.), |
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alliance/partnership history and experience, and |
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