PharmaTelevision - How Do Eli Lilly & Co Do Deals?

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Video title: How Do Eli Lilly & Co Do Deals?

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"Most deals will fail for non-technical reasons". A sobering thought for the biotech industry, especially with the global markets collapsing around us where big deals are a lifeline to many companies. Mark Barbato explains how Eli Lilly & Company decided to tackle this problem back in the 90's with the creation of its Alliance Management group, which is now responsible for the company's relationships with its partners. Part of their role is to find, get and create value and Mr Barbato stresses that although Lilly is currently acquiring several small companies, such as ImClone and SGX, their focus today is still on forming a diverse range of collaborations.

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How Alliance Management Fits with Lilly's Fit net Business Model.

Fintan Walton:

Hello and welcome to PharmaVentures Business Review here live in London. On this show I have Mark Barbato, who is Vice President of Alliance Management at Eli Lilly & Company in Indianapolis. Welcome to the show.

Mark A. Barbato:

Good morning Fintan , good to be here.

Fintan Walton:

Good to have you Mark because clearly Eli Lilly & Company is an organization that has a good track record to high profile in Alliance Management and the application of that Alliance Management to it's � deals it's does and has done, as Vice President of Alliance Management how does that fit within first the business model that Eli Lilly has set up and then how does that actually translate into the deals you've done?

Mark A. Barbato:

Okay. It's good a question to have it first our origins go back to the 90's that actually when we started doing more deals our head of Lilly research labs talked to there had to be more research with that was i.e more partnerships and so question was asked which if you are going to do more of that how you are going to be good then at managing those partnerships so the office of alliance management was created then to help manage those. Our business model talks about three things kind of find it, get it and create value segments, find it been a global external R&D group and get it being a business development and then alliance management being the create value portion. And we actual started very early on in the due diligence process even going back to the with our find it colleagues as we try to asset that company how we are going with them, how we feel strategically and operationally as well as culturally.

Fintan Walton:

Okay. Now how and then there is the business model is the fit net model, tell us about the fit net model?

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Mark A Barbato

Vice President, Alliance Management

Mr. Barbato joined Eli Lilly & Company in 1973 as a sales representative and has held a variety of sales, marketing, and new product development management positions. Recent assignments with Lilly have included Vice President of Operations for LillyUSA, Executive Director and Cardiovascular Platform Team Leader and prior to that Executive Director of the Cialis and ReoPro global product teams, the cardiovascular business unit, and global cancer and cardiovascular therapies.

Eli Lilly & Company

Eli Lilly & Co was founded in 1876 by Eli Lilly a 38-year-old pharmaceutical chemist and a veteran of the U.S. Civil War, Colonel Lilly was frustrated by the poorly prepared, often ineffective medicines of his day. The company headquarters are located in Indianapolis, Indiana, U.S.A and it employs more than 40,000 people worldwide.