Sean is a professor in the Department of Policy Analysis and Management (PAM) at Cornell University, the Director of the Sloan Program in Health Administration, and a Research Associate at the National Bureau of Economic Research. Prior to joining the PAM Department in 2004, Sean was a faculty member in the Health Care Systems Department at The Wharton School of the University of Pennsylvania. Sean worked for four years as a management consultant with APM and taught high school for two years before enrolling in graduate school. He received a B.A. from Dartmouth College in 1986 and a Ph.D. in economics from the University of Wisconsin-Madison in 1997.
In the first week of the course you will describe how the science, R&D, and patent decisions affect the positioning and life cycle of a drug in an uncertain environment. You will describe the research and development of “your” drug: the indication(s) for which the drug is approved, how your drug was tested in Phase 3, the drug’s efficacy and side effects in Phase 3, and any black box warnings. You will also navigate organizational silos to shape the commercial prospects of your drug and assist in the approval process.
In the second week of the course you will evaluate a lifecycle management strategy for a branded firm and a strategy for a generic and biosimilar firm that is used to expeditiously enter the market. You will also describe the key patents on the drug, when the patents were filed, the expiration dates of those patents, and the date when market exclusivity is expected to end. You will then connect this to the patent being issued to the originating firm.
In the third week of the course you will describe how biotech and pharma firms set prices and negotiate with health insurers. You will determine the price of a drug and the prices of its key competitors. You will then evaluate why the company chose this price and if your drug tends to be covered by private health insurers.
In the fourth week of the course you will describe how mergers, acquisitions, and alliances can be used to improve R&D productivity. You will investigate how different firms develop drugs either independently or with another firm. You will also evaluate the potential benefits and disadvantages to potential mergers and acquisitions.
In the last week of the course you will identify the promotion, product, and place of a drug to inform the marketing strategy. Then you will describe and critique your company’s marketing strategy for the drug. Your presentation will include an analysis of your drug’s efficacy and side effects relative to the market leader or the company’s nearest competitor, if you are the market leader. You will then evaluate if the company positioning its drug is relative to its competitors via its marketing strategy.
- Describe how the science, R&D, and patent decisions affect the drug’s performance over its life cycle in an uncertain environment
- Evaluate the lifecycle management strategy for a branded firm to maximize its market exclusivity and a strategy for a generic or biosimilar firm to enter the market expeditiously
- Describe how biotech and pharma firms set prices and negotiate with health insurers
- Describe how firms decide whether to develop a drug independently or co-develop with another firm and how that decision affects the financial outlook of a company
- Articulate how the optimal marketing strategy for a drug differs based on the three key decisions made early in its development cycle and on the drug’s performance in clinical trials
How It Works
Who Should Enroll
- Entry to mid-level pharmaceutical professionals responsible for or looking to move into drug development and discovery
- Pharmaceutical professionals involved in marketing, branding, sales, and business development
- Pharmaceutical professionals involved in medical affairs, managed markets, manufacturing, or distribution
- Health insurance professionals
- Appropriate for domestic and international audiences
- Graduate and undergraduate students in biotech or healthcare-related studies