jake - thanks for your comments and link. I read through it a few times and generally feel very good about seeing this details although it can drive a few outcomes. All generally good outcomes...
The (hopefully) desired strategy is partnership with a large pharma. For that to happen, while the BP brings with it a working commercialization engine, the providing company (Peregrine in this example) needs to have its own small organizational structure to interface with the BP partner. The commercialization lead works both internally and externally to establish a framework that supports the related activities.
An internal commercialization leader can also be the interface for limited geography undertakings that Peregrine may want to handle on its own. Not easy to find situations where this would appear to be the prudent thing to do, but suppose there are states where a majority of purchase/distribution points for an Oncology product get driven by very few organizations (large hospital network, etc.) - a direct sales engagement may be possible due to the limited breadth of direct buyers of the product and simpler channel of entry.
There are other options where this type of skill set and department can operate - including commercializing outside the US through a regional partner, etc.
All-in-all, this type of function needs to be stood up and operating well before one sells a single vial. There are many preparatory activities that can take months and years to complete in order to ready the org for representing the full function.
They need to start early for any of this to work, and they start at risk, like all pharma cos do when planning.
It is, however, a very good sign and aligns well with everything else we're seeing. The sum of the parts here is much greater than the whole.
I don't really see this as likely to be a smoke screen because a big buyer/partner will not look at signals like these to make a decision (internal or external marketing - as example). Signals that will drive a bite and hook are good trial data, whisper about another big competitor getting involved (chum the water), and a need to leap (AZN trying to make up for 18-24 months of delayed arrival to the game.
But all this does require much investment (commercializing department to be established and costing $$ long before there is any income from product sales) and increased costs.
Thanks again for sharing.
Best,
MH
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