Monthly Activity Report

Transcription

1 Actionable intelligence for pharma vendors June 2006 In this issue Monthly Activity Report pg. 1 What To Do When Nothing s New: 5 Strategies for Success pg. 2 Prospect Profile: Targacept pg. 3 PharmSource Lead Sheet pg.6 Dear Colleague, Welcome to the June 2006 issue of the PERISCOPE. Our aim is to help you stay on top of your business! The PharmSource Team Monthly Activity Report PharmSource Lead Sheet: May opportunities 250+ overall leads for pharma vendors were reported by the PharmSource Lead Sheet in May. Lead Type May Y-T-D Non-US Leads Early development candidates Late development candidates Large molecule candidates Small molecule candidates Newly-funded companies New sourcing executives Parenteral dosage form candidates Solid dose candidates Total Leads* 259 1,183 *Total leads include product acquisitions/alliances, company acquisition/alliances and other sponsor events. Pipeline leads shown are categorized by development, API and dosage form. Page 1 of 7

2 What To Do When Nothing s New: 5 Strategies for Success What To Do When Nothing s New: 5 Strategies for Success By Susan A. Friedmann Look at that throng of people crowding the trade show floor. People come from all over the country to walk these aisles, eager eyes flitting from booth to booth, scanning the exhibits for what, exactly? Research shows that the vast majority 76% -- come to trade shows to discover what s new and exciting. Maybe it s a new product, or an innovative bit of technology, or a snazzy new application, or even an entire company that they were never aware of before. In an ideal world, every company would be constantly innovating, creating cutting edge products at phenomenal savings guaranteed to meet the customer s needs. But as you and I know, business doesn t work that way. There are years when companies struggle to survive. Other years, it takes every ounce of effort just to maintain market position. And still other times, things might be fine, but the newest innovation is six, twelve, even eighteen months on the horizon. Is it even worth exhibiting during these times? Do the results of participating in a trade show while your company s in a lull phase justify the costs? Absolutely! In fact, it is precisely at these times when not participating could hurt your bottom line. Businesses rise and fall based on the strength of personal relationships. There is no better place to form new relationships and maintain and reinforce existing relationships than at a trade show. To do this, you need to create a positive impression with your exhibit. Demonstrate something new and exciting. Give the people what they want. How can you do that, you ask, when you don t have any new and exciting products? Here are five focus strategies the pros use when they re in a similar situation: 1. Focus on Features: Purveyors of high-tech or complicated products often don t realize how little consumers know about the items they purchase. For example, take the average word processing program. It has countless features yet how many does the everyday user know about, much less use? Realize that your buyers may not even know what they don t know. Here s an opportunity to offer seminars, tutorials, or other interactive options centered on the more obscure features. This way, you re demonstrating that you value your customers and want them to make the most of your products/services. You could win their loyalty for life. 2. Focus on the Future: If the next big innovation is in sight, but you re not ready to spill the beans just yet, you ve got an ideal opportunity to create a buzz. Some of the most effective excitement generating campaigns say little, if anything, about the new product, yet still create an impression that something noteworthy is about to happen. Signage, graphics, and literature all declaring It s Coming! let the public know that you re excited about the new product and that they should be too. 3. Focus on Finesse: Is there a way to make your product new and improved? You ll sometimes see this technique that I ve called the Proctor & Gamble strategy. Every so often, you ll see a new and improved version of a product introduced laundry soap, shampoo, deodorant, and so on yet you d have to be a chemical engineer to notice any discernable difference between the old product and the new one. Still, consumers flock to the new, even if it s only slightly different than the product they were previously satisfied with. If you can t change your product, what about the packaging? Glidden changed their paint can while still keeping their actual product, the paint, the same as it ever was, and saw sales rise as a result. Page 2 of 7

3 4. Focus on People: Great products wouldn t exist without great people. Consider putting a human face on your operation by centering your latest exhibit around the people who make, test, or use your product. Post Cereal, Reynold s Wrap, and NAPA auto parts have all used this strategy successfully during periods when their product line was fairly static and then carried the idea forward, altering it as needed to introduce new products! 5. Focus on Service: Many times, we re asking buyers to make a huge investment to buy our products. If something goes wrong, the buyer worries that they will be left holding the bag on a very expensive mistake. Reassure consumers that they ll never be alone if there is a problem. By promoting service plans, support networks, and other types of assistance, you re demonstrating that you ll be there for your customer through thick or thin! About The Author Written by Susan A. Friedmann, CSP, The Tradeshow Coach, Lake Placid, NY, author: Meeting & Event Planning for Dummies, working with companies to improve their meeting and event success through coaching, consulting and tradeshow training. For a free copy of 10 Common Mistakes Exhibitors Make, article4@thetradeshowcoach.com; website: Copyright 2001-Present ArticleCity.com Prospect Profile: Targacept, Inc. Targacept, Inc. In the issue of the PharmSource Lead Sheet, we reported that Targacept filed a registration statement with the SEC for an initial public offering (IPO) of its common stock. The company recently reported the completion of its IPO, raising approximately $45 million in April Corporate Data: 200 East First Street, Suite 300 Winston-Salem, NC Page 3 of 7

4 Key Officers: J. Donald debethizy, PhD, President and CEO Merouane Bencherif, MD, PhD, VP, Preclinical Research Jeffrey P. Brennan, VP, Business and Commercial Development William S. Caldwell, PhD, VP, Drug Discovery and Development Geoffrey C. Dunbar, MD, VP, Clinical Development and Regulatory Affairs Alan A. Musso, CPA, CMA, VP and Chief Financial Officer Peter A. Zorn, Esq., VP, Legal Affairs and General Council Mauri K. Hodges, CPA, CCP, Senior Director of Finance and Controller No. of Employees: 77 full time employees 35 PhDs, MDs or both Business Summary: Targacept is a biopharmaceutical company that focuses on central nervous system diseases and disorders. The company discovers and develops drugs by selectively targeting neuronal nicotinic receptors (NNRs), which are found on nerve cells throughout the nervous system and serve as key regulators of nervous system activity. The most advanced products in the pipeline are treatments for cognitive impairment, depression, anxiety, and pain. The company operates from a 40,000 sq. ft. laboratory and office space in North Carolina. Use of Proceeds: Targacept plans to use the proceeds from the initial public offering as follows: to complete the ongoing Phase II trial of mecamylamine hydrochloride as an add-on therapy in patients with major depressive disorder and to conduct additional development of mecamylamine hydrochloride; to complete the ongoing Phase I trial and to conduct a Phase II trial of TC-2696 for acute post-operative pain; to conduct additional preclinical studies to support an IND for the depression and anxiety disorder product TC-2216, then to conduct Phase I trials and initiate a Phase II trial; to conduct additional preclinical studies to support an IND and, unless licensed to AstraZeneca under the terms of the collaboration agreement, to conduct Phase I trials of TC-5619; to fund preclinical testing and other research and development activities in one or more of the areas of smoking cessation, obesity and inflammation; and to fund general and administrative expenses, other research and development expenses, working capital needs and other general corporate purposes. Page 4 of 7

5 Finances (millions): Revenue $ 3.8 $ 2.5 $ 2.3 R&D Expenditures: Direct external costs: TC Mecamylamine TC Other R&D Costs Total R&D Costs Other Expenditures: General and Adminstrative Capital Expenditure Pipeline: Product Candidate Indication Therapeutic Area Delivery Method Status Next Anticipated Milestone Inversine Hypertension Anti-hypertensive Oral Marketed - TC-1734 Cognitive Impairment Neurology/Dementia Oral Phase II Phase II results in H and partner AstraZeneca Phase II trials in H Mecamylamine Depression Antidepressant Oral Phase II Results due in Q TC-2696 Post operative pain Analgesic Oral Phase I Results in H TC-5214 Depression Antidepressant Unknown Preclinical Development will be accelerated if Mecamylamine results are positive Additional preclinical studies Antidepressant/ for IND filing in TC-2216 Anti-anxiety Oral Preclinical H TC-5619 Depression and Anxiety Schizophrenia, Cognitive Impairment, and Inflammation Neurology/ Antiinflammatory/ Dementia Unknown Preclinical Additional preclinical studies for IND filing in 2007 Page 5 of 7

6 Manufacturing: Has limited internal manufacturing capability and only manufactures small quantities for relatively short preclinical toxicology trials All compounds are low molecular weight Relies on third party manufacturers for the commercial production of Inversine and its active ingredient Relies on third party manufacturers, including Siegfried Ltd., to supply, store and distribute product candidates for clinical trials Expects to rely initially on a single contract manufacturer for each product candidate Has a product development and production agreement with Siegfried Ltd. whereby Siegfried provides process development services and clinical trial material at specified rates for product candidates that Targacept elects Following the marketing approval of any product candidate for which Siegfried performs services, a negotiation for a separate multi-year commercial supply agreement for the product will be undertaken The agreement with Siegfried can be terminated as of February 2006 by either Siegfried or Targacept on 12 months notice Sourcing Opportunities: Small molecule API manufacturers- for larger quantities of preclinical and clinical candidates and possible commercial supply Marketing, sales or distribution personnel- for the commercialization of any new drugs Dose manufacturers- for preclinical and clinical compounds Contract CROs- for drug trials PharmSource Lead Sheet The PharmSource Lead Sheet (PLS) is the weekly web-based information service that delivers new business opportunities via each week. Our professional team of researchers does the hard work thoroughly identifying and qualifying new companies, products and opportunities in the drug pipeline that signal a need for products and services like those offered by your company. Receiving these fresh, qualified sales leads lets you spend your time selling, not prospecting for leads. We produce between 40 and 60 leads per week, and approximately 10 of those are for European- or Asian-based opportunities. Here are some excellent reasons to become a subscriber: Save time and increase sales efficiency: The PLS serves as a virtual prospecting department, letting sales staff focus on making direct contact and selling. Save money: The PLS costs less than exhibiting at a single trade show, and far less than an internal prospecting department. On-going source of fresh leads and current market information: Helps keep the top of the lead funnel full with fresh leads every week, and keeps you on top of pipeline trends for products as well as for Pharma financings. Page 6 of 7

7 Excellent resource for targeted mailing/contact lists: The Full Database Search feature can be used to create targeted lists of pharma companies for marketing campaigns or to contact for site visits. The annual subscription renewal rate for the PLS is over 90%. This extraordinary rate is the highest praise for the PLS, speaks volumes to its value as a resource that produces results, and shows extremely strong customer satisfaction and loyalty. PharmSource currently offers a complimentary test-drive of the PharmSource Lead Sheet. Call Judy Miller at , ext. 103 (ET) to schedule your test-drive. You can also read more at To view previous issues of this publication please visit and click on the PERISCOPE link. The PERISCOPE is a publication of PharmSource Information Services, Inc. Phone Fax info@pharmsource.com PharmSource Information Services, Inc. All rights reserved. Page 7 of 7