Lecture at Semmelweis International BioEntrepreneurship Program by Arnold Feher
A description of how the company makes money. Key elements of it: Product (and Price), Customer, Customer benefit, Competitive advantages, and the How? (Customer acquisition, Resources (HR, financial background), Profit-risk profile, Etc. Key elements might differ case by case.
B2C (=business to consumer), B2B (=business to business), B2G (=business to government), B2D (=business to distributor).
Different business models perform differently along the Key Success Factors: 1. Scalable growth potential, 2. Defensibility.
Three basic life science business models differ in their value proposition: The tool model involves selling a technology or service that helps other companies develop drugs, diagnostics, devices. The product model involves involves actually developing drugs, diagnostics, devices. The hybrid model is a combination of the tool and product models. Typicall involving a platform: developing multiple products around a core competency (often patented), e.g. expertise in a disease are, a discovery technology or a formulation technology).
Global drug market is ~USD 800 Bn, growing fast and the US represents approx. half of it. Pharma business has traditionally been built on „block buster” business model.
Diagnostics and medical device business models account for a less signifcant part for the biobusiness.
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