Ipsen is a global biopharmaceutical company currently going through a strong momentum of growth. In 2017, total sales exceeded €1.9bn with 75% growth in North America and double-digit growth in Europe. Global partnerships are critical to achieve this transformation and have become the most important driver in the next phase of growth.
The software designed for biopharma business development
To support their partnering activities, Ipsen had already implemented an internally designed Sharepoint-based solution for all the partnering functions, External Innovation, Business Development and Alliance Management. However, this solution proved difficult to use and to tailor to everyone’s needs.
As a result, Ipsen evaluated a few external solutions and decided that Inova was the best fit to their needs. Ipsen looked for a plug and play tool featuring industry best practices.
Expert advice and support from Inova’s Customer Success Managers
Having decided to use Inova Software, the implementation work quickly started. Inova’s Customer Success Managers collaborated closely with Ipsen to adjust Inova’s partnering solution to be a perfect fit and to help Ipsen reassess their processes and requirements. "The Inova Team has a huge amount of expertise in creating efficient partnering processes. Thanks to them, we have improved and refined our processes and the way we work,” - Frederic Scaerou, Senior Director, Head of External Innovation Europe & Asia.
The implementation process included transferring Ipsen’s historical data over to Inova. By migrating the data, Ipsen not only kept all of their existing corporate memory, but they could leverage it in Inova from day one.
Better collaboration, all over the world
By using Inova, the Ipsen Business Development team can easily work together despite being spread across the globe, with offices in the US, Europe and Asia. Additionally, they collaborate better with other externally facing teams, including the Primary Care and M&A teams. For example, the Business Development team shares with the M&A team what they know about other companies, such as their history of interactions and why they chose not to pursue an opportunity. The M&A team, on the other hand, alerts the Business Development team to any interesting opportunities they come across. As a result, both teams work faster and with higher quality information sharing.
Furthermore, the Business Development team is planning to use Inova to improve how they communicate about their activities with the rest of the company. "Inova Software changes the way we do Business Development. It helps us to better communicate and report on what we do as a team. We can quickly create and share reports on our activities, such as the number of opportunities we are looking at, the key decision-making steps, what meetings have taken place and more. It’s a must-have for us now,” - Frederic Scaerou, Senior Director, Head of External Innovation Europe & Asia.
This reporting will also enable the Business Development team to further boost their process efficiency. They can analyze information such as how many deals they signed, how many opportunities they looked at to achieve that many deals, how long it took them to make a decision, the efficiency of their triage in terms of percentage and time, and more. Equipped with such information, they can easily highlight areas for improvement and maximize their impact.