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Periscope — July 2011 Issue

 

New Business Opportunities for Companies Serving Pharma

July 2011

The PharmSource PERISCOPE provides valuable insight into sales issues and trends for companies that sell goods or services to bio/pharma. It helps you recognize new business opportunities, and overcome sales obstacles. Enjoy the July issue.

The PharmSource Team

312 overall leads for pharma vendors were reported by the PharmSource Lead Sheet in June 2011:

Lead Type June 2011 YTD
Non US 108 810
Early Dev 61 484
Late Dev 77 377
Large molecule 63 402
Small molecule 118 754
Newly-funded 60 478
New sourcing 14 102
Parenteral 81 522
Oral 75 455
Total Leads 312 2,131

Below are two actual leads from recent issues of the PharmSource Lead Sheet (PLS), the weekly, web-based information service that delivers new business opportunities and key market intelligence information to companies serving Bio/Pharma. It includes new information on products in development, acquisitions, alliances, financing transactions, and more, and delivers up to 70+ fresh leads each week in pharma/biotech companies around the world. Use the PLS to stay on top of opportunities as soon as they’re announced, to keep attuned to market activity and trends, and as a key resource for targeted marketing.

For The Week Of
July, 3rd 2011



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This section of the PERISCOPE summarizes a sampling of the many recent appointments of new people to high-level positions in pharma/biotech. For more information of this nature, see the “Key Appointments” section of the weekly PharmSource Lead Sheet.


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Join us July 19-21 in Philadelphia, PA for ExL Pharma’s 3rd Annual Conference on Effective Business Development Outsourcing Relationships. PharmSource’s Vice President, Judy Ludwin Miller, will chair a full day seminar on Back-to-Basics Business Development on July 19th. Designed for those new to the BD role, or who want a refresher, this day will provide important industry-specific BD training.  Mike Schultz, President of RAIN GROUP and co-author of Rainmaking Conversations: Influence, Persuade and Sell in Any Situation, will give the seminar keynote speech on What it Really Takes to Become a Rainmaker. He will also speak at the main conference on Mastering the Art of Sales Conversations.

This conference is the only event in the industry that focuses on BD’s role in the outsourcing process, from initial prospecting to long-term relationship management. It turns the traditional outsourcing conference upside down with a program designed to meet the business development and account management needs of CROs and other outsourcing providers. With both sponsors and providers on the faculty, the level of engagement and meaningful dialog in an intimate environment is extremely valuable. We hope to see you there.

For more information please visit www.exlpharma.com/bizdev or call 1-866-207-6528. To receive a 15% private discount for PharmSource subscribers and friends, please reference discount code P1310PS when registering.

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By Daniel Sitter

Marketing expert Seth Godin gave some timely and prudent advice for real estate agents. His hard-hitting advice is actually quite relevant to every salesperson and entrepreneur who would listen. He pulled no punches and as usual, had a great deal of wisdom to offer. Listen up salespeople… you cannot afford to miss this lesson.

Seth shared a philosophy, one that I have been professing for a lifetime: that success follows the Pareto Principle in that 80% of your efforts must come from personal development and 20% from specific techniques. Godin fed his hungry and attentive audience a two-course meal, teaching that there are two things they needed to do immediately:

  1. Become the expert in what you do. Micro-specialize in a segment of your market. Become the authority, the go-to person in that field.
  2. Interact with your clients and prospects, both past and present. Open a dialog with them. Communicate regularly.

Simple advice? Yes. An investment in yourself is always going to pay dividends! Learn everything you can in your chosen field. Study the markets that interest you. Sharpen your saw, i.e., spend time improving your interpersonal skills, speaking skills, communication skills. Make time for self-investment. Invest your time wisely, in you. Become an expert in your niche. Learn all you can. Improve your productivity. Specialize.

We live in an age of communication, where multiple media formats allow us to extend our reach to almost everyone, everywhere, easier and faster than ever before! Do you have a mailing list? A blog? A newsletter? a web site? A video interview on You Tube? A pod-cast available on niche web sites? Do you speak at local functions? Write local newspaper articles? Why not? As Seth says, “You’re either the best in the world (where ‘world’ can be a tiny slice of the environment) or you’re invisible.” Learn to communicate effectively with your niche.

In our ever-evolving economy, you cannot expect to be successful doing the same things in the same manner that you always have. It’s time for change. It’s time to reinvent both ourselves and our approach. You need a new plan of action. You must get started now! Why are you still sitting there?

About the Author
Daniel Sitter, author of both Learning For Profit and Superior Selling Skills Mastery, has garnered extensive experience in sales, training, marketing and personal development over a successful twenty-six year sales career. Read his blog at http://www.idea-sellers.com/

Reprinted with permission. Article Source: http://EzineArticles.com/?expert=Daniel_Sitter.

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By Daniel Sitter

Ask almost any average salesperson what his greatest problem or objection is, and more than likely you will hear the word price. “My prices are higher than my competitors” or “Our prices are too high” are often the mantra. Ask superior salespeople however, and I suspect that you will find, in reality, they have learned that price is seldom the real issue. Let’s consider the acronym P.R.I.C.E. for a moment: Perceived Reality Investment Cost Expectation.

Perceived: Sales are most often a process involving perception, or perceived value. Our job as professional salespeople is to sell the value of our goods and services. Once the customer sees that the value of the product or service offers more to him than the selling price asked, the sale is made and the issue of pricing actually never became an issue at all.

Reality: Let’s face it, so often sales people use the price excuse as the reason why a sale was not made. Assuming that you are dealing with a qualified prospect (and you are wasting your time if you are not), the reality is that your prospect needs to learn exactly how your product or service fills his need, closes the void and meets his requirements in a timely manner. That is plain reality.

Investment: The customer must be shown that by purchasing from you, they are making a wise investment and not simply incurring an additional expense. Buyers are not interested in driving their costs higher by spending more money. They are interested in solving their problems. They desire to make cost-effective decisions based upon perception and education.

Cost: As a professional salesperson, interested in meeting and exceeding the expectations of your prospects and customers, you must always be aware that price is simply not equal to cost. Remember the old axiom… “Beware the cost of the lowest price.” Cost of ownership, payback time and solving problems are the true issues a professional buyer is really looking for.

Expectation: Today’s customer assumes quality. They assume service and delivery. Your buyer expects that the products and services that you propose are actually presented with thier best interests in mind and your solution will meet their needs. That is the starting point. Do not be fooled when a buyer asks you about pricing. If they can maximize their value and get it at a lower price, they will attempt to get it, but they will buy at your set price point if expected value is there.

To simplify things further, remember that the customer actually makes the purchase decision only once. The money allocated to acquire your product or service is typically spent one time for each purchasing decision. For each purchase, the company must then deal with the reality of that decision. The item purchased is then placed into service within the structure of the buyers’ company. After this point, various employees and internal departments must deal with that particular purchasing decision. There will often be ramifications from each purchasing decision within other departments in the company. The true cost of each purchasing decision will show itself over time. Cost issues continue to present themselves over the useful life of the product or service purchased, long after the purchase was actually made.

Cost and price are two very different concerns indeed. Do not get caught in the trap of thinking otherwise. Superior salespeople have learned that hard lesson at some point early in their careers. Do what all superior salespeople do: shorten your learning curve by acting on this new information. Move your career into high gear by accelerating your learning of these superior principles.

About the Author
Daniel Sitter is the author of the breakthrough e-book, Learning For Profit [http://www.learningforprofit.com]. Designed for busy people, this new book teaches simple, step-by-step accelerated learning skills, demonstrating exactly how to learn anything faster than ever before. It’s currently available from the author’s web site [http://www.learningforprofit.com] and a variety of online software and book merchants. Mr. Sitter is a contributing writer for several online and traditional publications. His expertise includes sales, marketing, self-improvement and general business interests

Reprinted with permission. Article Source: http://EzineArticles.com/?expert=Daniel_Sitter.

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Prospect Profile highlights a newly funded bio/pharmaceutical company each month. This includes important insights into the featured company’s product pipeline, manufacturing and business relationships, and likely sourcing opportunities.

Trius Therapeutics, Inc.

Trius Therapeutics, Inc. is a public pharmaceutical company that develops novel small molecule treatments for bacterial infections. As reported in the June 2, 2011 issue of the PharmSource Lead Sheet, Trius Therapeutics raised $30.16 million in a private equity placement.

Sourcing Opportunities

The proceeds will be used to fund the continued clinical development of torezolid phosphate, and for general corporate purposes. The financing may also represent sourcing opportunities in marketing, sales, distribution, manufacturing, packaging and warehousing.

Corporate Highlights

  • The company was originally incorporated as RexC Pharmaceuticals, Inc. in California in June 2004.  The company changed its name to Trius Therapeutics, Inc. in February 2007 and was reincorporated in Delaware in December 2007.
  • Corporate Headquarters: San Diego, California – 24,000 square feet of laboratory and office space.
  • As of March 2011, the company had 53 total employees.

Manufacturing Status

  • Trius Therapeutics does not own or operate manufacturing facilities. Thus, Trius currently relies on third-party contract manufacturers for all of their required raw materials, API and finished products for their preclinical research and clinical trials.
  • Albany Molecular Research Incorporated (AMRI) is responsible for the clinical supply of torezolid phosphate API.
  • AAI Pharma is responsible for producing the oral solid and sterile parenteral dosage forms for torezolid phosphate.
  • Trius currently does not have contractual agreements for the commercial supply of torezolid phosphate or any other product candidates but intends to enter such agreements upon FDA approval of any of their treatments.

Business Relationships

  • The company relies on the services of CROs to advance their product candidates through clinical trials.
  • 2007: Trius entered into a license agreement with Dong-A Pharmaceutical Co. Ltd. under which Trius acquired the exclusive worldwide rights, outside of Korea, to develop, manufacture and market a series of oxazolidinone-class antibacterial compounds. It is from this agreement that Trius acquired the rights to torezolid phosphate. The financial details of the agreement were not disclosed.

Pipeline

Product
Candidate 		Indication Dosage Form Status Next
Anticipated Step
Dual GyrB/ParE targeting compounds Gram-negative bacterial infections Parenteral Discovery/Preclinical TBA
Marine natural products Gram-negative and gram-positive bacterial infections Parenteral Discovery/Preclinical TBA
Torezolid phosphate
(TR-701)		 Bacteremia Oral/Parenteral Phase I TBA
Torezolid phosphate
(TR-701)		 Acquired bacterial pneumonia Oral/Parenteral Phase I TBA
Torezolid phosphate
(TR-701)		 Acute bacterial skin and skin structure infections (ABSSSI) Oral/Parenteral Phase II/III TBA


Finances

(In $ thousands) 2009 2010
Revenues 5,016 8,032
R&D Expenditures 23,049 23,320
General & Administrative Expenditures 4,134 5,406
Total Operating Expenses 27,183 28,726
Capital Expenditures 160 593


Trius Therapeutics, Inc. Key Officers
6310 Nancy Ridge Drive, Suite 101 Jeffrey Stein PhD, President & CEO
San Diego, CA 92121 John Finn PhD, CSO
Phone: (858) 452-0370 Philippe G. Prokocimer MD, CMO
Fax: (858) 677-9975 Kenneth Bartizal PhD, Chief Development Officer
Web: www.triusrx.com Karen Joy Shaw PhD, SVP, Biology

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The PharmSource Lead Sheet is the weekly web-based information service that identifies fresh business opportunities for companies serving pharma and biotech. Respected, endorsed and depended on by the top companies, the PLS informs you of new business opportunities. It lowers your prospecting costs, raises the productivity of your sales staff, and helps keep your lead funnel full.

If you’re not yet a subscriber to the PharmSource Lead Sheet, we invite you to take a complimentary test-drive to see for yourself how this service can be a vital tool for growing your market share and building your brand recognition.

Subscribe by July 31, 2011 and

get 10% off! *

*This offer is for new subscribers only at the Corporate subscription level or above.

To request a free test-drive of the PharmSource Lead Sheet, call Judy Miller at 1-703-383-4903 (ET USA) or complete this simple form and we’ll contact you:

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