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Partnering is the process of creating a cooperative and mutually beneficial team out of potential adversaries on a pharmaceutical project. Partnering is voluntary and does not replace contractual agreements. Rather, it enables these agreements to be executed successfully because the trust, respect, open communications and appropriate systems are in place and agreed to by all.

Why is it important?

Time is money in a pharmaceutical project. Effective partnering reduces delays, avoids misunderstandings and creates positive relationships that encourage people to achieve common goals. By solving problems ahead of time, it removes system bottlenecks that can derail a project.

Process: -

Φ Preliminary contact

Φ Opportunity screening

Φ Evaluation

Φ Negotiation

Φ Agreement

Φ Deal Execution