RESEARCH TRIANGLE PARK, N.C. – Jan. 11, 2010 – While half of corporate alliances fail, Quintiles and Solvay Pharmaceuticals succeeded by focusing on alliance strategy execution and achieving common goals, according to the Harvard Business Review article “Managing Alliances with the Balanced Scorecard” available for download at www.quintiles.com.
The article in Harvard Business Review’s special Jan.-Feb. issue provides an in-depth look at how Quintiles and Solvay jointly developed and managed an innovative development alliance to deliver value for both companies, including a 40% reduction in total cycle time for Solvay clinical studies and significant cost savings.
“While alliances are central to virtually all biopharma companies’ transformational strategies, the sad truth is that about half will fail because of lack of alliance expertise and commitment,” said Ron Wooten, Executive Vice President, Quintiles Corporate Development. “This article details how Solvay and Quintiles worked together to achieve transformational change – accelerating Solvay’s development pipeline, reducing its costs and risks, and improving productivity.”
The full case study, “Managing Alliances with the Balanced Scorecard,” is available for a limited time at www.quintiles.com/HBRManagingAlliances. The article describes the alliance’s strategy map and collaboration scorecard to track progress; its robust, innovative governance structure; and the value the alliance delivered to both companies.
Also available are video clips of co-author Robert S. Kaplan, Baker Foundation Professor at Harvard Business School, commenting on why strategic alliances are essential to success in today’s hyper-competitive global business environment; the common causes of alliance failures; and how Quintiles and Solvay Pharmaceuticals managed their alliance to achieve success.
Quintiles is the only fully integrated biopharmaceutical services company offering clinical, commercial, consulting and capital solutions worldwide. The Quintiles network of 23,000 engaged professionals in more than 50 countries around the globe works with an unwavering commitment to patients, safety and ethics. Quintiles helps biopharmaceutical companies navigate risk and seize opportunities in an environment where change is constant. For more information, please visit www.quintiles.com.