The Annual HBS Healthcare Club Conference

PANELS

Below are the synopses of the conference panel discussions. Please check back regularly as updates will be made on a daily basis.
Big Pharma: How to Manage Consolidation and Innovation
Moderator:	Marta Wosinska, Assistant Professor of Marketing, Harvard Business School
Panelists:	Jeffrey Elton, Senior Vice President of Strategy and Global Chief Operating Officer Novartis Institutes for BioMedical Research
	Richard L. Hoddeson, VP of Finance, Pfizer, Inc.
	Karim Lalji, VP Commercial Planning & Business Analysis, Sepracor, Inc.
	Dr. Divakar Ramakrishnan, Director of Strategic Facilities Planning, Eli Lilly & Company

Over the past few years, big pharma companies have faced growing problems with internal R&D innovation and capturing scale benefits. This has led to a wave of consolidation across many players. This consolidation has continued the trend of ever larger pharma companies, creating a polar environment with big pharma working across multiple disease markets, while smaller niche players are forced to focus on specific therapeutic areas in order to compete. The panel will explore the following questions: What will the new wave of growth be? Is this consolidation sustainable? How do you grow differently Is there a workable growth alternative for aspiring pharma players? How does this polarization change innovation within the industry? If you don’t have the financial resources to consolidate, how do you grow in this market? If you want to play in a specific market, does that affect growth tactics and strategy?
VC/Startups: Building a Successful Biotechnology Startup: Perspectives from Biotechnology Chief Executives and Venture Capitalists
Moderator:	Robert F. Higgins, Managing General Partner, Highland Capital
Panelists:	Peter Barrett, Ph.D., Senior Partner, Atlas Ventures
	Errol De Souza, Ph.D., President & CEO, Archemix
	Cedric Francois, M.D., Ph.D., Co-Founder, CEO and President, Potentia Pharmaceuticals, Inc.
	Ansbert K. Gadicke, M.D., Founder & General Partner, MPM Capital
	Samir Kaul, Partner, Flagship Ventures, Founding CEO, Codon Devices

Drug development is an inherently risky business both for entrepreneurs and venture capitalists. Scientific advances may take up to 15 years or more to be commercialized. Less than 10% of all drugs entering clinical trials are ultimately approved. Before thinking about founding a biotechnology startup entrepreneurs should be aware of the following: How to develop a successful business model to remain competitive and attract the interest of investors/collaborators. How venture capitalists add value to biotechnology startups and at what stage should they be approached. What are the prospects for raising capital both in private and public markets and how might the ability to finance change in the future.
Payor/Provider: The ROI Case for Quality
Moderator:	Ernst R. Berndt, Professor of Applied Economics, MIT Sloan School of Management
Panelists:	Dr. Stephen Deutsch, Executive Vice President and Chief Medical Officer, Touchstone Health
	Howard L. Golub M.D., Ph.D., President, CareStat Inc.
	Robert B. Harrington, Cofounder, Cambridge Management Group, Inc.

Recent reimbursement changes for hospitals and doctors reveal a growing focus in the payor community on pay-for-performance – measuring care outcomes and basing payment on hospitals’ and doctors results. We would like to hear experts from the payor and provider communities discuss the ROI case for quality. Could these changes have a transformative impact on the U.S. health care delivery system? What are appropriate quality measurement criteria? – Who decides? What matters? How is it measured? Who measures? What level of flexibility is there? How much reimbursement is at stake? Is it at risk or a bonus? What is the impact on physicians? Should they be reimbursed in a similar fashion? What kind of behavior are you trying to incent? – Will hospitals and doctors not want to take on risky cases/procedures? Are volumes going to be the key to quality? Are there any early success stories? Hospital / payor / community?
Biotech Panel: Avoiding Monogamy: Building Multiple Partnerships to Achieve Growth
Moderator:	Jacques Mulder, Principal, New York, Life Sciences, Strategy & Operations, Deloitte Consulting, LLP
Panelists:	Faraz Ali, Director of Marketing, Genzyme
	Dr. Paul Beresford, VP of New Technologies and Personalized Medicine, Ventana Medical Systems, Inc.
	Adrian H. B. Gottschalk, Associate Director of Corporate Strategy, Biogen Idec
	Pierre Jacquet, M.D., Ph.D., Vice President, L.E.K. Consulting Professionals
	Phil Tinmouth, Senior Director of Corporate and Business Development, Vertex Pharmaceuticals

Building successful alliances has been an important growth factor for biotech companies as they have traditionally turned to pharmaceutical or other biotech companies for collaboration in pipeline development, clinical trials, manufacturing, and sales and marketing. Therefore, in addition to managing a portfolio of therapeutic drugs, biotech companies also manage a portfolio of strategic alliances. As personalized medicine becomes a reality, the strategic nature of the partnerships in the biotech industry are changing and expanding to include medical device companies. How do you identify a partner with whom to form an alliance and what makes the alliance successful? How did these successful alliances contribute to growth? Not all alliances result in success. What are some examples of alliances that have failed and the factors that prevented success? Have there been setbacks in growth because an alliance was not formed? How do you balance the trade-offs between forming an alliance and developing the expertise internally? In the face of personalized medicine, how will the strategy of alliance formation change?
Affiliated Service Providers: Emerging Strategies in Healthcare
Moderator:	Joseph P. Newhouse, Professor of Health Policy and Management, Harvard University John F. Kennedy School of Government
Panelists:	Kevin Gorman, Managing Partner, Putnam Associates
	Mason (Skip) Irving, III, Managing Director, Health Advances, LLC
	Spencer Nam, Senior Research Analyst, Summer Street Research Partners
	Cory Williams, Engagement Manager, McKinsey and Company
	Tory Wolff, Senior Manager, Boston Consulting Group

The strategic landscape in the US Healthcare industry is changing as a direct result of increased government intervention. Medicare Part D, increased collection and analysis of patient outcomes data, and greater visibility into drug research and clinical testing are just a few significant changes in healthcare that are reshaping pharma, biotech, medical devices, and payer/provider organizations. Affiliated Service providers, such as consulting firms and financial services institutions, play a critical role in helping healthcare organizations adjust to new market dynamics. The objective of this panel is to hear first-hand how leaders in these services organizations believe increasing government intervention will reshape the healthcare industry. How have manufacturers, payors, and providers responded to the impending Medicare Part D benefit? What are the long-term implications of this drug benefit on the healthcare industry? With Medicare Part D, the government will have access to the largest set of outcomes/effectiveness data available. How might this database impact manufacturers, payors, and providers? How will greater visibility into drug research and clinical testing (e.g. public access to all clinical trial results) shape the future of R&D and clinical trial execution?
Medical Devices: The Perfect Medical Device Investment – A different perspective from startups, industry giants & the VC in between
Moderator:	Frederick J. Schoen, M.D., Ph.D., Professor of Pathology and Health Sciences and Technology, Harvard Medical School, Director of Cardiac Pathology and Executive Vice-Chairman in the Department of Pathology, Brigham and Women's Hospital
Panelists:	Dr. Nissim Darvish, Partner, Pitango Venture Capital
	Clifford Holmes, Ph.D., Vice President of Discovery and Scientific Support, Baxter
	James E. Nicholson, Founder & Managing Partner, OrthoPlex, LLC.
	Dr. John W. Sheets, Vice President and Chief Technical Officer, Ethicon, a Johnson & Johnson company
	Dr. Thomas J. Vasicek, Senior Director, Biosciences Technology Development, Medtronic, Inc.

The panel will discuss the interactions between the three driving forces of the medical device industry: Startups, Healthcare VC’s and Large Medical Device companies. Main topics to be covered: What would be your ideal medical device investment? Entrepreneurial venture? Efficiency - In house development vs. market shopping. Timing – When is the best time to sell, purchase, or be purchased? The $50B challenge - Can entrepreneurs build a new industry giant today?