BIOPHARMA
Keeping Biopharma Innovative Some case studies in how to grow and still nurture a corporate culture open to new ideas By Nina Wachsman, President and Founder, Augur Health LLC and Gerald Mosely, PhD, Founder and Principal, CP&P Development Group
Biopharma companies are founded on ideas and innovative thinking—often started by a group of scientists or entrepreneurs with a common purpose and vision. As a small organization starting up with a new molecule or a new technology, there are less resources available and only the bare minimum of functional capabilities. Thinking out of the box is often a necessity to accomplish all that needs to be done in order to take the innovative ideas and make them a reality. As a company grows, products and capabilities are added, and there is a need to scale up people, processes and structure. This transition raises the risk of losing sight of the founding vision and spirit. A lack of clarity and direction, increased dysfunction and general organizational malaise are potential consequences of this bureaucratic transformation.
“Innovation has always been one of our values. It was obvious in the beginning. As you grow you may lose the sense of purpose you had in start-up mode. You have to build the company, get the drug throughFDA, face competitors,and satisfy multiple stakeholders.Things get more complicated, and you can get more mired in the day-to-day.” Bill Fairey, President, Actelion Pharmaceuticals US Many companies try to “import” innovative thinking by bringing in consultants, experts, and agencies or looking to outside companies to help them with their efforts. In 2000, Target was just another discount retailer when they approached their ad agency, Kirshenbaum & Bond, to help them build an image as an upscale, trendy retailer to a target urbane audience that was not aware of or did not even think of Target as fashionable. Target was willing to make the commitment to a totally new way of 57 | HS&M OCTOBER/NOVEMBER 2016
