ACADEMIC DIRECTOR
  • Global Positioning Seminar: Jagmohan S. Raju
  • Value Creation Seminar: Gavan Fitzsimons
  • Value Creation Seminar: Sean Nicholson
GOALS
  • To provide marketing and financial insights on the value creation process
  • To develop product positioning that can be directly applied to current business challenges
RESULTS
  • About 350 employees have participated in the Value Creation Seminar at Wharton.
  • Some 120 employees have completed the Global Positioning Seminar.
  • There has been better strategic planning.
  • More rigorous positioning plans are being developed.
BUILDING VALUE IN PHARMACEUTICALS
As therapeutic exclusivity in pharmaceuticals has decreased from years to months, companies have a narrow window in which to launch new products. With the average new-product launch costing hundreds of millions of dollars, the stakes of positioning decisions are very high. "Dramatic changes in the health care marketplace have pushed forward new questions about value creation and positioning," said George Ericsson, Wyeth's Associate Director of Marketing Development. "The pharmaceutical industry is a uniquely regulated environment, and there are genuine medical issues with people's lives at risk, so the integrity of how we train people is very important."

Wyeth turned to the Wharton School to develop a set of programs to prepare its managers for these challenges. Since the Wyeth Value Creation Seminar was launched in 1999, more than 350 Wyeth managers have participated, and more than 100 managers have completed the Global Positioning Seminar at Wharton, which was launched in 2001.

Both programs use proprietary case studies based on current or past Wyeth product launches so the participants can easily see the connection to their work. "Participants are working with live business decisions, so it becomes very real and challenging," Ericsson said. "The coursework includes our business practice right smack in the middle of it. That's how you build a great course." Participants close the loop with their work by presenting plans to executives at the vice president level or higher, who come to Wharton on the last day of both programs.

VALUE THROUGH PARTNERSHIP
Drawing upon the broad bench strength of Wharton faculty, the Wyeth programs explore the diverse challenges involved in successfully launching and building the value of pharmaceuticals products. These include topics such as positioning, branding, finance, pharmacoeconomics and pricing, and scenario planning.

The course also pulls together a very interdisciplinary group of students.