Pharmaceutical Business Development and Licensing – Overview of a Cross‐Functional and Multifaceted Role and Its Key Elements in Biopharmaceutical Industry

Business development and licensing (BD&L) represents an integrated company function responsible for collaborations with external parties. The overall objective is, depending on company and business model, to ensure competitiveness of the portfolio or pipeline and create new business in terms of additional customers, acquire new projects or enter new markets. This article outlines the typical responsibilities of BD&L, which include screening, scientific and financial evaluation, market and competitive landscape analysis, forecasting, due diligence, and contract closure. The licensing process is described and how evaluation forms the basis for contractual agreements. The objective is to provide an overview of this cross-functional role and its key elements in biopharmaceutical industry.