Lecures for Exam II of Business Management, MPA, VU Amsterdam
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Course
Business Management (AM_470584)
Institution
Vrije Universiteit Amsterdam (VU)
This document contains the extra lectures you need to know for Exam II of the course Business Management, given in the master MPA (Management, Policy Analysis and Entrepreneurship in Health and Life Sciences), VU Amsterdam
Management, Policy-analysis And Entrepreneurship In Health Sciences
Business Management (AM_470584)
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HC’s – Business management
HC’s Business management Exam II
HC 14 – Payments by type in time
In the first year of your patent, you can still add data. Disclosure fee = you get information of the
patent, but you let the patent confidential; you get paid to keep it a secret. It is a way to separate the
players from the non-players; companies that don’t pay, are not players for your patent. The
company gives feedback on your patent, and might want to cooperate with you. Stand still option
agreement = have the right to negotiate is worth money (so you sell the right to negotiate). If a
company doesn’t want to pay this, they are buying time, stalling you. This agreement covers 3
months.
There are several advantages of cash frontloading are:
- Thermometer function
- Respects content and persons in primary process
- Need for strong proposition
- ‘free’ start money
- ‘new’ cash in
- Early industrial validation
- Commitment and ‘real’ guidance
- Multiplier effect
- Check on NPV
- Separates men from boys
Think about value in steps. It is not important if something is worth 1 or 2 million, but it is important
to know if it is 240.000 or 24 million.
You can see IPR (intellectual property rights) as layers of protection around the core. Outside →
inside:
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, HC’s – Business management
1. Registered trade mark 6. Commercial intangibles
2. Brand 7. Marketing intangibles
3. Copyright 8. Trade secret
4. Registration (dossier) 9. Technical intangibles
5. Patent
Picture on the previous page are all the IPR and intangibles you can think of in pharma- or nutrition-
related companies. You wont tick all the boxes. But you need to tick some. The risk on failure per
phase lowers; high in research and design, and keeps getting lower and lower in pro-clinical, clinical I-
III, registration, and is minimized in the market entry phase. The milestone payments on the other
hand keep rising per stage, from the lowest at research and design, to the highest at market entry.
This is the case in the development of vaccines, and other pharmaceutical products. So for everything
you do, there is a timeline, amount of risk, and change on failure. A way of de-risking is by putting IPR
on your problem. So the more boxes you tick, the less risk and higher your value.
Remember: you don’t get what you deserve or want, you get what you negotiate! You have to work
for it, put the effort in it. Be a 100% committed.
Diseases in numbers and buyers black box
- Over 12.387 drugs are admitted in the Netherlands
- Total sales value is over 5 billion euros
- 56 percent of people leave doctor with a prescription
- 65+ers use 3 times more drugs than average
- The costs of pharma (medicine) is only 7% of the Dutch total health care costs
Branding is very important for the prices of medicine. In NL, advertising is not allowed. But in the USA
it is (prices are 3,5 times higher there).
There is a buyers black box between the
marketing stimuli (how is it promoted, where do
you buy it, etc.), other stimuli, and the buyer
responses. In the black box, the buyer decides to
buy the medicine or not. In EU, the black box is
heavily influenced by what the doctor thinks.
The black box works on different levels: cultural
level (e.g. no vaccination is allowed; your mind
about this would probably not be changed),
social (e.g. reference groups, family, and
roles/status), personal (e.g. age, occupation, economic position, lifestyle, personality), psychological
(e.g. motivation, perception, learning, beliefs and attitudes). Cultural and social form an important
part of if a person is going to buy the medicine or not.
So the consumer or patient is mostly relying on the general opinion and
beliefs, and a little bit less on the opinion of health care professionals.
VALS: Values, Attitudes and Life Style. First, there is an unmet medical need.
The person will look for information. Next, the person will ask for advice (e.g.
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