business & business models hic 2015 harvard medical school anupendra sharma siemens venture...
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Business & Business Models
HIC 2015
Harvard Medical School
Anupendra SharmaSiemens Venture Capital
SLP | Startup Leadership Program
[Getting down to] Business
Business is about people selling things to
people.
“You either make sh*!, sell sh*!, or
you are sh*!.”
Larry Ellison, Founder and CEO Oracle
(Exercise)What’s important in business
People [first]
Exercise---
What do you need to do to make the most out of this
class ?
“Medicine is not a business...”
Yet its 17.6% of our economy
Money may or may not matter to you…
…but it makes the system work (somewhat)
Dr. Raymond F. Schinazi Frances Winship Walters Professor of Pediatrics & Director of the Laboratory of Biochemical Pharmacology Emory University
Founder Pharmasset (Sovaldi; Hepatitis C’ 90% cures after 12-weeks)acquired by Gilead for $11B
Business Models
A startup is…
“…an organization in search of a repeatable and scalable
BUSINESS MODEL”
Steve Blank
What is a business model
“A business model describes how your company makes money” (Steve Blank)
Exercise---
What do you need to do to make the most out of this
class ?
How do they make money?
Business models of these segments ?
[Why are they changing]
Labcorp DX
MRI Mfrs
Hospitals
DX Mfr Insurance Biotech
Exercise----
Can you think about business model
innovation in biotech ?
Life cycle extension strategies…
How do they generate revenues?
IGNT: Image-guided navigation & therapy•Used to go into the extremities of the lung to biopsy cancers that are unreachable
Superdimension, acquired by Covidien $300M
POC: Point-of-care blood-gas analyzers
Epocal, acquired by Alere $166M
Transcatheter Aortic Valve 14% versus 19%
CoreValveacquired by Medtronic$1.1B
SmartPill: The wireless pill
ProteusInvestment from NovartisFiled to go public
Aravind Eye: 4M surgeriesProfitable not-for-profit. Huh?
Can you think of an interesting business model in
healthcare
What is the product?What is the problem do you solve?What is the business model?
Speaking of people…
How to make the most out of this class ?
HIC Alumni [Many started companies]
Sarah (McKinsey)* Angela (Roche)**Shyla (Flagship)**Paulina (Polaris/MIT)Ketki (Puretech Ventures)Carlos (Third Rock/Sage Therapeutics)*Chi (Sage Therapeutics)*Adriana (McKinsey)*Hubo Li (McKinsey)*Dave R (Started a biotech company)* HIC Leadership team ** Harvard Biotech Club
How to make the best of this class
The speaker is your friend (you’re home; they’re away)Ask questionsKnow the peopleIt’s not schoolGet out of the hospital / labGet on Twitter!