Biotech Course Correction With Treehill Partners' Ali Pashazadeh
Business Of Biotech
Choose Wisely: The Long-Term Impact of CMO Selection
Selecting a Chief Marketing Officer (CMO) is critical, as this decision fundamentally shapes the future trajectory of a company. The chosen CMO leads the development of clinical studies, which can span several years, making their selection a high-stakes event. A poorly made decision can result in a costly five-year setback, necessitating a return to square one. Companies often simplify this complex choice by focusing only on past successes in similar drug indications without adequately considering the breadth and depth of the decision-making process. Robust analysis and strategic foresight are essential to avoid following misleading patterns or relying on superficial assessments, which can lead to misallocated resources and missed opportunities for innovation.
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