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Pharmaceutical Entrepeneurship The Anatomy of a Pharmaceutical

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					                                       McGill UNIVERSITY
                                      Faculty of Management
                                  Department of Entrepreneurship

                               Pharmaceutical Entrepreneurship:
                       The Anatomy of a Pharmaceutical / Biotech Start-Up.
                                          Winter 2009
                                (Tuesdays, 6:00 p.m. – 9:00 p.m.)
                                       Bronfman Building
                            690-061 (61) MBA – 400-061 (61) B.Comm

Prerequisite: B.Comm III, MBA I or Instructor’s permission.

    Jonathan Goodman, B.A., LL.B., M.B.A., President & CEO, Paladin Labs Inc. Tel: 514-340-
       5072, e-mail:
    Mark Beaudet, B.Comm, V.P., Marketing & Sales, Tel: 514-340-5051, email:
    Samira Sakhia, B.Comm., C.A., MBA, V.P Finance & CFO, email:
    Mark Nawacki, C.A., M.B.A., Vice President, Business Development, email@paladin-
    Mike Freeman, LL.B., M.B.A., Vice President, Government Affairs, mfreeman@paladin-

Office Hours: Available before or after class and by appointment.

The objective of this course is to help students develop the skills and knowledge needed to be effective
as entrepreneurs or as members of entrepreneurial teams in a pharmaceutical / biotech environment.
Healthcare issues will be addressed through the use of a combination of readings, case discussions,
guest speakers and a team project designed to expose the student to the tools, concepts and practices of
the entrepreneurial world.

Career Focus
This course is appropriate for those students interested in general management, business development,
corporate venturing and financial or consulting services to the pharmaceutical and biotech industry.
Students will learn about factors that underlie successful entrepreneurial initiatives in the
pharmaceutical / biotech environment.

 One 3-hour lecture per week, which shall generally include a guest speaker.

Course Materials
 Cynthia Robbins-Roth, From Alchemy to IPO, Perseus Publishing, 2000.
 Beyond Borders: Global Biotechnology Report 2008, Ernst & Young Life Science Practice.
 Cases / Readings
Evaluation will be based on the following:

                              % of Final Grade               Due Date
Class Participation           20%
Team Selection                                               January 20, 2009
Team Project – Outline                                       February 3, 2009
Quiz on Reading               10%                            February 17, 2009
Entrepreneur Interview        20%                            March 10, 2009
Team Project                  50%                            April 7 & April 14, 2009

Classroom participation is critical if you are to take full advantage of the developmental opportunity
placed before you. Your participation grade will be a function of the value of your input to the
classroom learning and your knowledge of the reading assigned.

Regular attendance in strongly encouraged and unexcused absences will impact your participation

Entrepreneur Interview
You will be responsible for interviewing a life science entrepreneur in order to identify and explore
key issues regarding the entrepreneur and his/her venture. Evaluation will be based on the quality and
thoroughness of the field research. It is encouraged for you to leverage this interview as a networking
opportunity to gain access to leading life science entrepreneurs. Reports on the interview should be no
longer than 4 double spaced pages.

A 1 hour quiz will be given in class on From Alchemy to IPO and the Ernst & Young biotechnology
industry report.

Team Project
The team project will involve performing an in-depth analysis of a Canadian private biotechnology
company and making a formal presentation as to whether your group recommends to invest in the
company under consideration. Your analysis must include a discussion of the company’s (1) goals and
objectives, (2) products and pipeline, (3) competitive landscape (4) risks and opportunities, (5)
financial valuation and (6) basis for recommendation.

Fifty (50%) of your grade will be determined by an outside panel of experts based upon your
presentation skills and format, the depth and clarity of your analysis and the persuasiveness of your
findings. Fifty (50%) of your grade shall be based on your team’s ranking as determined by your peers.
The data required to formulate your recommendations is going to require primary research and, as a
result, teams are encouraged to initiate work early in the semester. Your team must interview at least 2
members of the management team and at least 2 outside experts.

A team must consist of 3 – 4 students. Each group must register the company they wish to analyze with
the Instructor by no later than January 20, 2009 and companies will be allocated on a first come, first
served basis.

Each team must submit an outline no later than February 3, 2009 describing how the team plans to
approach their strategic question. Particular emphasis should be placed on key research required to
support the respective valuation.
Each presentation must be a maximum of 15 minutes in duration and a hard copy of the presentation
must be presented to the Instructor by April 7, 2009.
McGill University values academic integrity. Therefore, all students must understand the meaning and
consequences of cheating, plagiarism and other academic offences under the Code of Student Conduct and
Disciplinary Procedures.

Course Outline
 Week                               Subject                      Lecturer        Course Requirements
 1 – Jan 6         Introduction                                J. Goodman
 2 – Jan 13        The Canadian Pharmaceutical Environment –   M. Beaudet
                    Part 1
 3 – Jan 20        The Canadian Pharmaceutical Environment     M. Freeman      Team Selection due
                    – Part 2
 4 – Jan 27        The Canadian Pharmaceutical Environment     M. Beaudet
                    – Part 3
  5 – Feb 3        Pharmaceutical Strategy / Issues – Part 1   J. Goodman      Team Project Outline due
 6 – Feb 10        Pharmaceutical Strategy / Issues – Part 2   J. Goodman
 7 – Feb 17        Business Development: How to pick winning   M. Nawacki      Quiz on Reading
 8 – Feb 24        Reading Week (right on!)

  9 – Mar 3        Pharmaceutical Strategy – Part 3            J. Goodman
10 – Mar 10        Business Development: The art of the deal   M. Nawacki    Entrepreneur Interview due
11 – Mar 17        Financing New Ventures – Part 1              S. Sakhia
12 – Mar 24        Financing New Ventures – Part 2              S. Sakhia
13 – Mar 31        Wrap-Up                                     J. Goodman
14 – April 7       Presentations                                   All
15 – April 14      Presentations                                   All


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