Therapeutic Area Partnerships: Faster, Earlier and Make Mine Cash
Executive Summary
The rising dealmaking value of proof of concept (POC) was the key theme at Windhover's Therapeutic Area Partnerships meeting, (Oct. 24-26, 2007). In 2002 and 2003 companies paid roughly three times the value for Phase III products that they paid for Phase II. Now, candidates at Phase II (a proxy for POC) go for about the same price as Phase III drugs. What’s going on here and what role will Big Pharma and mid-size companies find themselves playing if the trend continues?