French company Iris Pharma has announced a strategic alliance with US based RXGen and now offer fully integrated ‘bench to bedside' ophthalmology research services to the global pharma & biotech industries. This partnership will allow customers to benefit from their combined preclinical & clinical knowledge resources. Pierre-Paul Elenam CEO of Iris Pharma, Said this development will allow them to add to their existing portfolios completing the value chain required to bring a drug from bench to market.
Strategic alliances can be powerful things. But, like everything in life, it has its downsides. Here's a look at the advantages and disadvantages of such alliances.
Advantages:
- Get instant/quicker market access into a new market.
- Increase sales.
- Widen your distribution channels.
- Strengthen your position in a market where you have minimal traction.
- Gain new skills and technology.
- Share fixed costs and resources.
- Broaden your business contacts.
- Gain greater knowledge of international customs and culture.
- Strengthen your brand awareness in the world marketplace.
Disadvantages:
- Weaker management involvement
- Less equity stake.
- Loss of control on important issues.
- Fear of market insulation due to local partner’s presence.
- Less efficient communication.
- Poor resource allocation.
- Difficult to keep objectives on target.
All these things are worth considering before you decide to go down this route.