Ex-US imperative

For a majority of blockbuster candidates, ex-US markets represent opportunity as big as that of the US market.

Most of the blockbuster products are acquired by global pharmaceutical companies before commercial launch or full take-off.

Traction in ex-US development can materially increase exit value and investors expect it.

The upside

Investor credibility, better prospect for additional raise

Higher exit value: upto x 2

Option value for Plan B: out-license, partnering or in-house launch

CEO/CFO view and local experience required

Target product profile and positioning based on deep local insight – understand unique clinical practice and competitor dynamics in each of the key countries

Integrated regulatory label and market access strategy – identify high value claims that meet both regulatory and market access requirements

Strategic development plan - optimise trade-off between reward, risk and cashflow building on the US development plan. Opportunities are in the details. High-level strategies fail to capture them

CEO/ CFO perspective critical. Commercially-led planning will lead to over optimistic views.