Novo Nordisk's Business Development group is responsible for identifying and securing in-licensing, co-promotion and strategic partnership opportunities for both marketed prescription pharmaceutical products and late stage development projects. We have improved the “promotional effectiveness and revenue” business model that benefits both Novo Nordisk's North American Affiliates and our potential partner companies. Our Business Development group is committed to completing straightforward and professional agreements that allow for our partner companies and Novo Nordisk to progress quickly and to completion. This makes us the ideal partner for companies just starting or for billion-dollar companies.
Strategic Alliances for Mutual Growth
We believe that collaborations and strategic alliances with other Pharmaceutical, Biotech and healthcare-related companies is the ideal path to follow. In addition to the co-promotional and co-marketing alliances, most of our deals take place within our core therapeutic areas, and Novo Nordisk will divest non-core products to increase productivity, efficiency and innovation.
Our typical strategic alliances are:
co-promotion (use of another company's sales force)
co-marketing (maximize reach with a partner's campaign)
equity investments
product acquisitions
Alliance Management
It has become apparent to us in our partnerships that assisting in the project implementation is just as important as the structure of the transaction itself. As a result, active alliance management has become an accepted process in all our business practices. Our BD&L executives focus on the organizational learning of our company and on past partnerships to improve the current company's alliances and provide insight into what does and does not work and why effective alliance management is critical to partnership value creation. This will help move Novo Nordisk forward.
