Background and Challenge

After enlisting L.E.K. Consulting to provide commercial due diligence on a pharmaceutical company, a U.K. private equity (PE) firm acquired the corporation. The global PE firm again turned to L.E.K. to lead the post-acquisition work for the U.S.-based company and immediately enhanced the value of its new portfolio company.

Approach and Recommendations

An L.E.K. team from London and Boston worked closely with the portfolio company’s senior management to develop a post-acquisition 100-day plan to prioritize and address short-term activities, and also establish a foundation for long-term success. The L.E.K. team was responsible for:

  • Guiding the pharmaceutical company’s management team in identifying key areas of improvement
  • Creating a tracking system for senior executives to monitor progress
  • Facilitating and supporting material development for management workshops
  • Acting as a liaison between management and additional external PE advisors

The L.E.K. team provided step-by-step, strategic recommendations for the first 100 days after the acquisition of several departments within the company, including communications, business development, S&M, human resources, finance, R&D, manufacturing and supply chain, purchasing, legal and regulatory, and environmental. L.E.K. also re-evaluated several business development processes, from determining new product pipeline criteria to revamping the new product pipeline dashboard for senior executives.

L.E.K. facilitated three management workshops, which were held during the 100-day program, in which the management team presented the status of their projects. The L.E.K. team helped transition project ownership to management and assisted them in identifying additional high-priority "next steps" to ensure continued momentum.

Results

At the conclusion of the 100-day program, L.E.K. provided a seamless handoff of all projects to the company’s management team. Today, the pharmaceutical company’s executive leadership is using the planning and operational guidelines outlined in the 100-day plan to shape long-term strategic programs. Senior company executives also drew from L.E.K.’s business management recommendations to foster a more strategic, creative, and free-thinking culture throughout the organization via improvements in internal communications, organizational development, and human resources.