| Course Description |
This course examines the strategic, technological, competitive, economic, organizational, and political challenges impacting the pharmaceutical and biotechnology industry. Learning outcomes to be gained by the students include:
•R&D - process of discovering, developing, and approving new drugs & biologics;
•Regulatory environment and IP/patents; orphan drugs; generics and “biosimilars”;
•Global launch and competitive market dynamics of new biopharmaceuticals – U.S. and international markets;
•Oncology category: clinical/regulatory, commercial issues/pricing & reimbursement, personalized medicine/ use of biomarkers, etc.
•Drug pricing and third-party reimbursement, including design of prescription drug plans, role/practices of PBMs, and drug provisions of the Inflation Reduction Act;
•Unique challenges of creating, managing, and investing in early/commercial-stage biopharma companies;
•Vaccines – development, regulatory, manufacturing, distribution, value/pricing;
•Financial characteristics, valuation, M&A, partnering 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. Prominent guest speakers from the pharmaceutical and biotechnology industry will provide additional real-world insight on key industry challenges and trends.
Evaluation is 20% class participation, 40% mid-term writing assignment, and 40% final paper. Final grade distributions will be consistent with School guidelines for electives (i.e., no more than 50% of grades in “H” category, and no less than 5% in “LP/P” category).
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