Background and Challenge

The client, a mid-tier global pharmaceutical company, approached L.E.K. Consulting with an impending revenue “cliff” due to loss of patent exclusivity on a number of key products. We were hired to transform the company’s business development culture, capabilities and strategy with the expectation that a revised external M&A and licensing strategy would mitigate its impending revenue gap and set the stage for growth.

Approach and Recommendations

We quickly engaged the client, and worked closely with senior management to:

  • Develop a transactional approach that was aligned with the company’s overarching corporate growth strategy and the strategic interests of each of the therapeutic franchises
  • Develop a robust and rapid business development process that was supported by an efficient organizational structure to identify, assess, acquire and integrate a series of transformative deals
  • Support the client with a rapid triage of business development opportunities and the commercial diligence, execution and integration of ongoing deals across a number of different therapeutic areas and product types


In fewer than 18 months, both the client and ourselves executed more than a dozen deals, and the client transformed itself from a traditional pharmaceutical company into an industry leader with a strong and diverse product pipeline, solid portfolio of marketed products, and clear vision for the future. In the time that L.E.K. and the client have worked together earnings have increased dramatically and Wall Street has responded favorably to the client’s strategic plan and long-term outlook.

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