search.noResults

search.searching

dataCollection.invalidEmail
note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
Business


Figure 1 Representation of the growth of aVPC as a function of time and corporate development. Each concentric circle represents a different time in the growth of the company. This is a composite of the services required to undertake the DDD process by aVPC. In some cases aVPC will only focus on a selective set of components determined by management expertise and company goals


specific disease indication at modest cost. The term ‘Virtual’ in this context refers to the company’s busi- ness model predicated on outsourcing services and reliance on electronic facilitated communication by the management/advisory team. The latter’s role is to co-ordinate all activities with external providers. The choice of service providers is critical for the VPC, but requires almost no internal investment in fixed assets6-10. The VPC model is at the other end of the spectrum from a vertically-integrated phar- maceutical company such as those large pharmaceu- tical companies listed in Table 1.


VPC business model VDDI Pharmaceuticals is a VPC based in Tennessee, USA (see Examples of VPCs). The com- pany model comprises: a) a limited core group of employees responsible for strategic management, regulatory strategy and financial control; b) out- sourcing all non-core business functions; and c) electronic data capture and data submission to regulatory authorities. The company claims that adoption of such a model “can reduce total drug


Drug DiscoveryWorld Summer 2019


development programme costs by at least 25% and development times by up to 50%”12. All VPCs are obviously seeking to control costs, reduce product development times and also miti- gate risk in their scientific, clinical and business endeavours. The question is how to achieve such goals utilising the VPC model? Powell and Schroder have argued that this requires a paradigm shift in thinking and the VPC manage- ment team should consider themselves as ‘orches- trators’ of the process13. This intricate network of virtual partnerships is predicated primarily on managing information flow and relationships not products. This requires strict attention and focus on collaborations, risk management and transpar- ent information flow13. The role of management in a VPC model is a


critical component of success for such companies. The layers of bureaucracy typical of large pharma- ceutical companies have been stripped away. This facilitates a freedom to operate associated with efficient decision-making and has resulted in an emerging popularity of VPCs. The business model


11


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64