Case Study | Biotech
Biotech Eliminates Barriers to Growth by Reformulating Strategy
A renowned biotech leader wanted to identify the most optimal ten-year corporate strategy for operational success and define the best pathway for future growth.
The company had a strong innovation track record and had successfully launched disruptive evidence-based products in the last few decades but remained commercially ineffective.
The rapidly evolving competitive landscape and external business environment put pressure on the biotech in their efforts to streamline their next success story. As a result, there was unspoken frustration and misunderstanding within the organization. New leadership at the company sought a transformational change that would not only resolve their future direction predicament but also help propel their chronically impeded commercial success by leveraging the pillars of established innovation legacy.
In search of a promising new focus, the biotech company approached Alira Health’s Consulting team for guidance to identify and assess the bottlenecks limiting company growth. The request was to review the capabilities of all products in development, analyze the competition, and review the management and company financials to then reformulate a winning growth strategy for the next decade. The new leadership wanted more than just a shelf report; they wanted an actionable tool, which required Alira Health to take a hands-on approach to this project.
We partnered with our client to assess the current state, identify growth opportunities, and set a path for a new strategy in a three-phased approach.
Phase I – Assess the Current Situation
- We assessed the client’s current assets, skills and capabilities, competitive positioning, and strategy with a major focus on early and late-stage pipeline products.
- We set an operational baseline by conducting a deep dive into the client’s R&D and manufacturing capabilities, other internal areas (clinical, regulatory, commercial, human resources, lifecycle management, medical affairs, quality affairs, and value creation), and project organization to assess the maturity of core competencies in support of a new strategy.
Phase II – Identify and Prioritize Growth Opportunities
- We identified, ranked, and prioritized growth opportunities with the client team.
Key analysis tools included:
- Prioritization matrix
- Engagement workshop with live voting
- Post-workshop matrix adjustments
- Final growth opportunities analysis and outcomes
- Strategic scenarios
Phase III – Establish Operational Needs for Growth
- We provided an operational blueprint to ensure the effective implementation of the new strategy. Key analysis tools included:
- Cost estimations
- Detailed activities and associated costs
- Resource allocation
- Immediate next steps
We delivered a viable 10-year growth strategy ready for execution. We provided the client with scenarios and options, guiding them to select a path in an interactive two-day session. The collaborative approach with the client team ensured that the work could be quickly moved into action and implemented in a sustainable way. Our team worked onsite with the client to build the necessary confidence and trust with the senior management. This enabled client partners to better tell their stories and experiences and be an integral part of Alira Health’s recommendations.
Key Success Factors
The ability to be strategic and dig deeper into technical aspects of Chemistry, Manufacturing, and Controls (CMC), regulatory, commercial, medical, and financial with the client’s technical teams proved instrumental to the new corporate strategy. The on-ground cross-functional mobilization of Alira Health’s consultants guaranteed that the client had the right subject matter experts advising them to the finish line. Additionally, a voting system to capture live insights from stakeholders at all levels strengthened Alira Health’s recommendations.
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Alira Health delivered a viable 10-year growth strategy ready for execution. The collaborative approach with the client team ensured that the work could be quickly moved into action and implemented in a sustainable way.