The medium to long term future of many life science companies depends largely on the type, scale and success of their R&D activities and efforts. In the past five years BSM has assisted a number of medical device and pharmaceutical companies develop their R&D strategy. This has lead to indigenous companies developing their own propriety products and local sites of multi national companies securing a mandate from their corporate partners to establish their own R&D function and capabilities.
BSM uses a structured methodology to assist life science companies develop their R&D strategy. This involves a series of facilitated workshops by BSM, where the senior management team are guided through the strategy development process.
The tangible delivery from the process is a jargon-free R&D Strategy document that includes:
- Overall R&D Goals & Objectives
- Identification of Areas of Focus for R&D (Technologies, Markets, Customers, etc.)
- Selection of Priority 1 Development Projects
- A programme plan, showing the recommended phasing and timescales for selected projects
- An identification of R&D capability initiatives (new hires, facilities, links with universities etc.)
- A resource estimate to progress the development projects
- Outline cost estimates / budget.
