Business Business Models HIC 2015 Harvard Medical School
Business & Business Models HIC 2015 Harvard Medical School Anupendra Sharma Siemens 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 $11 B
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)
How do they make money? Exercise --- What do you need to do to make the most out of this class ?
Business models of these segments ? [Why are they changing] Labcorp DX DX Mfr MRI Mfrs Insurance Hospitals 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 $300 M
POC: Point-of-care blood-gas analyzers Epocal, acquired by Alere $166 M
Transcatheter Aortic Valve 14% versus 19% Core. Valve acquired by Medtronic $1. 1 B
Smart. Pill: The wireless pill Proteus Investment from Novartis Filed to go public
Aravind Eye: 4 M surgeries Profitable 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 (Mc. Kinsey)* Angela (Roche)** Shyla (Flagship)** Paulina (Polaris/MIT) Ketki (Puretech Ventures) Carlos (Third Rock/Sage Therapeutics)* Chi (Sage Therapeutics)* Adriana (Mc. Kinsey)* Hubo Li (Mc. Kinsey)* 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 questions Know the people It’s not school Get out of the hospital / lab Get on Twitter!
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