This course examines the strategic, technological, competitive, economic, organizational, and political challenges impacting the pharmaceutical and biotechnology industry. Critical issues to be examined include:

* R&D - process of discovering, developing, and the approval of new drugs and biologics;
* Regulatory environment and IP/patents; generics and “biosimilars”;
* Rx sales and marketing objectives and practices;
* Review of global launch and competitive market dynamics of new biopharmaceuticals;
* Review of oncology therapeutic category, including orphan drugs;
* Drug pricing and third-party reimbursement, including design of prescription drug plans and PBMs/contracting;
* Creating and managing early-stage biopharma companies;
* Vaccines – development, regulatory, pricing, distribution; policy/reform impacting this sector;
* Mergers & acquisitions and licensing in the biopharma sector.

The course is cross-functional, focuses on “real-world” problems currently facing senior managers in this sector, and identifies emerging trends that will impact future performance of “Big Pharma”, specialty pharma, and early-stage biopharmaceutical companies. This course will be useful for students interested in careers in pharmaceuticals, biotechnology, and health services, as well as management consulting, investment banking, equity research, venture capital, private equity, and investment management given the large and growing healthcare/ pharmaceutical practices of such firms. Some understanding and/or prior experience in the healthcare/pharma industry will be highly useful to understand course content and preparing writing assignments.

Evaluation is 25% class participation, 25% mid-term writing assignment (questions or case study), and 50% final paper (questions or case study).

Cliff Cramer

Director

Professor Cramer spent more than 25 years in the healthcare, pharmaceutical, and financial services sectors. He was Managing Director at Merrill Lynch in the Global Healthcare Investment Banking Group, and Managing Director at JPMorgan in the Corporate Finance Group providing M&A services and financing to global healthcare enterprises. Earlier, Prof. Cramer was Vice President, Corporate Planning & Development for Merck & Co., Inc...

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Robert Essner

Executive in Residence

Robert Essner is the retired chairman and CEO of Wyeth, which was one of the world's leading research-based pharmaceutical companies. He led the transformation of Wyeth into a science-based industry leader with strong positions in drugs, biotechnology, vaccines, nonprescription products and animal health. During his more than 30 years in the industry, Mr. Essner served as chairman of both U.S. and...

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