Important data suggests that drug development is becoming more expensive each day, reaching astronomical sums estimated at billions of dollars per product. This, together with the fact that the FDA is approving fewer license applications per year, increases awareness that either your business makes the right choices, or it is out.
More than ever now is the time to find strategic relationships and meet the right people, but it is hard to identify real value event opportunities that really justify your time out of the office.
You have to identify ways to be the first to knock on every opportunity’s door, be it formal or informal networking, industry strategy schemes, competitive insight from leaders, the best pharmaceutical consulting, or a combination of these.
While networking at a conference, you want to make sure you get everything possible out of each high-level presenter or person there, so plan for opportunities to create valuable relationships during coffee breaks, drinks receptions, roundtables, and dinner parties. The goal of any conference is to meet potential partners, enhance existing relationships, and go home with numerous opportunities to consider later.
Days before you attend the conference, check out the guests and plan your schedule so that you can have several formal meetings during the day. Breaks and lunches are perfect occasions for informal gatherings. During dinners, you can network with high profile guests and colleagues. A chat while sharing some drinks is the best way to finish a long successful day and make friends. Roundtables offer you the opportunity to hear expert opinions, interesting discussions, and even join in with your own questions or suggestions.
Look for networking opportunities offering you solid information on potential partners and competitors. Look for insights from biotechs and pharma, overviews from regulatory bodies, coaching from independent professionals and worldwide innovations.
Be prepared to partner professionally. Train yourself to acquire partnering skills; research the internal processes of big companies and learn from expert lawyers, marketers, and managers.
Pay close attention to emerging markets, which are becoming fundamental for reaching innovation and powerful cooperations. India, China, and Latin America, among others, are vital new markets around the world. Find ways to reach them, meet them, and get in business with them.