A 2-Day Training Course Delivered By
Stefan Fischer

Stefan Fischer

  • Stefan Fischer brings over 25 years hands-on global experience in M&A and in- & out-licensing in the pharmaceutical industry.
  • He is currently a Senior Consultant with M&A Consulting GmbH, a business development firm specialised in all aspects of dealmaking and partnering in the life sciences industry.
  • Formerly, he was a Global Alliance Director at Roche up to 2001, where he closed 6 deals in 4 years, and subsequently served as CEO for several biotech companies (Capsant, Mutabilis, FABPharma).


  1. Comprehensive overview of the business development process in the pharma-biotech world.
  2. Analytical toolkit to profile opportunities that will be successful for your company.
  3. Sources and search tips for finding suitable candidates.
  4. Overview of forecasting and valuation approaches, and typical issues in the process.
  5. The pros and cons of different deal structures: JVs, licensing, M&A, etc.
  6. Key success factors and tips for writing a good term sheet and leading the negotiations.
  7. How to manage the contract phase and to avoid the financial and legal pitfalls that can break a deal.

Additional Benefits

  • Capitalise on the vast real-world experience of the expert. This course is full of examples, practical insights and tips!
  • Network and share experiences with peers from both the pharma and biotech side.


Why You Should Attend

The Content: Business Development in the pharmaceutical industry has become the most significant source of new products for most pharmaceutical companies. It is now conducted throughout every organisation, which requires executives in many disciplines to understand the process. Even executives new in a business development role often have had no formal training. Companies need to have a structured process throughout the organisation to ensure that there is coordination of efforts and alignment of strategy. This course has been written and developed to capture and structure the processes needed to bring about a successful transaction between pharma-pharma and pharma-biotech companies.

The Expert: The hands-on global experience of Stefan Fischer is enormous, spanning a broad spectrum of therapeutic areas and all forms of BD&L deals, in both big pharma and biotech.

The Pharma Business Development Course is the only available public training course delivered by Stefan Fischer on the topic of business development.

Agenda of The Pharma Business Development Course

For start and end times, please check Dates & Locations below.

Day 1

Welcome & Audience Expectations (~30 min)

Strategic Challenges for the BusDev Function (~30 min)

  • Why business development?
  • Market Access and the immense importance of a product’s clinical benefit – a major issue for BD!
  • Factors that determine the future value of deals
  • Thinking from the perspective of a company’s cash flows

BD’s Role in Product Portfolio Optimisation (~30 min)

  • The impact of product lifecycles on your product portfolio
  • How BD can best contribute

Profiling Your Ideal Opportunities (~2 h 30 min: 1 h 30 min before lunch, 1 h after lunch)

  • Internal & external influencing factors
  • Classical vs. Numerical SWOT to quantify and differentiate BD opportunities and gain insight
  • Group Exercise: participants will work in groups on a Numerical SWOT for a real-world case. The interpretation of the results will be discussed in plenary
  • Using the Gap Analysis technique to discriminate between opportunities based on your company’s capabilities
  • Group Exercise: participants will work in groups on a Gap Analysis
  • The Opportunity Anatomy: a technique that leads to a “Perfect Product Profile”
Lunch Break

Profiling Your Ideal Opportunities (Continued, ~1 h)

The Search & Evaluation of Opportunities (~1 h)

  • Planning the search process: Who-Where-Criteria
  • How to evaluate whether an opportunity is worthwhile pursuing or not
  • Focus on IP: structure – patent values – issues …
  • Definition and characteristics of the Target Product Profile

Valuing the Opportunity (~3 h 30 min: 1 h on day 1, 2 h 30 min on day 2)

  • Sales forecasting: models – pitfalls – issues
  • Valuation tools (i.e. NPV, IRR, Monte Carlo etc.): their logic and application issues
  • From forecast to risk adjusted NPV
  • Group Exercise: in smaller groups, participants work on an r-NPV calculation
  • Company valuations
  • The risk/return elements of a valuation: sources of funds – equity – banks - …
  • The implications of pricing & reimbursement on valuing BD transactions
  • Market distortions caused by government interventions: orphan status, pediatric studies, ...

Close of Day 1


Day 2

Valuing the Opportunity (Continued, ~2 h 30 min)

Negotiating the Deal (~2 h 30 min: 1 h before lunch, 1 h 30 min after lunch)

  • Critical elements of the term sheet
  • Key success factors in negotiation
  • Negotiation process and tactics
  • Deal components and contract drafting
Lunch Break

Negotiating the Deal (Continued, ~1 h 30 min)

Financial & Legal Success Factors (~30 min)

  • The final contract: what it should include to avoid problems post-signing
  • Dispute resolution

Alliance Management (~30 min)

  • Different types of alliances
  • Key success factors in Alliance Management
  • Failure factors in Alliance Management

Q&A (~30 min)


>> Click here if you wish to receive the PDF brochure of this course

Learning Methodology

The expert optimally balances theory with short exercises and numerous anecdotes that illustrate the theory. The strength of this course lies in providing a comprehensive overview of the business development process, illustrated by many examples from the vast experience of the expert, as well as the many checklists and decision support techniques & tools that can be used in each step.

One of the most valuable aspects of attending any CELforPharma course is not only being able to have your specific questions answered by a leading expert, but also having the opportunity to share experiences and have in-depth discussions with your international peers.

infoThe typical audience size of our courses ranges from 6 to 20 (max) participants.

Who Should Attend?

The Pharma Business Development Course has proven to be a very successful introductory course for two categories of executives:

  • Mid to senior level executives in small pharma and biotech companies with limited formal training in business development but whose role increasingly involves business development activities.
  • Junior to mid-level managers contributing to the business development process in the headquarters of midsize and big pharma companies (e.g. technology assessment, business intelligence…) who need a better understanding of the complete business development process.

Managers in local marketing organisations with responsibility for business development in national markets will also benefit but they should be aware that the course content is geared towards international licensing and acquisition BD responsibilities.

Executives working in generics companies should be aware that the content of this course concentrates on business development deals involving branded pharmaceuticals.

As this course is delivered by Stefan Fischer from M&A Consulting GmbH, a leading pharma consultancy company, executives from other professional service agencies should request approval prior to registering for this course. Please contact Annelies Swaan, Director Business Operations, for more information (aswaan@celforpharma.com, tel +32 (0)2 709 01 42).


Past Participants

Below is a non-exhaustive list of past participants who have benefited from attending this course.


Job Title



New Business Development ManagerAbbottFrance
Director, Global Forecasting and Commercial AnalyticsAbbvieUSA
Director Business DevelopmentAcino PharmaSwitzerland
Licensing and Contract Marketing ManagerActavisSerbia
Manager, Corporate Business Development, Licensing, Gastrointestinal & PainAlmirallSpain
Bussines Development & Licensing ManagerBayer Healthcare PharmaceuticalsRussian Federation
General ManagerEgisBulgaria
Manager Business DevelopmentFresenius KabiGermany
Financial Project Evaluation ManagerGaldermaFrance
Director, Business DevelopmentGlaxoSmithKlineBelgium
Strategic Marketing ManagerHelsinnSwitzerland
Associate Director Program Manager Research & Early DevelopmentJanssenBelgium
Senior Director, Head of R&D Quality & Compliance Business DevelopmentJohnson & JohnsonNetherlands
Medical DirectorLEO PharmaSwitzerland
ITB France SupervisorMedaFrance
Junior Manager Business DevelopmentMundipharmaGermany
Director Strategic PlanningNovartisSwitzerland
Business Development DirectorOrionFinland
International Product Manager EMEAOrphan EuropeFrance
Business Development Lead - Africa & Middle East RegionPfizerUnited Arab Emirates
Strategic Partnering AssociateRocheSwitzerland
Strategic Portfolio ManagerRoche DiagnosticsSwitzerland
Business Development & New Product Planning ExecutiveSanofiUnited Kingdom
Business Development DirectorServierRussian Federation
BD Project LeaderStallergenesFrance
Regional Medical Director Emerging Markets, Global Medical AffairsTakedaSwitzerland
Director, Specialty Life Cycle Initiatives Global Specialty MedicinesTevaBelgium
Associate Director, Global Market Access & Pricing CNSUCBBelgium
Market Research & Alliance ManagerVifor PharmaSwitzerland
Licensing and Business Development SpecialistZambonItaly



Dates & Locations

All live online CELforPharma courses are hosted in Zoom.

Our face-to-face courses take place at the Courtyard Marriott Brussels Hotel (Avenue des Olympiades 6, 1140 Brussels, Belgium), a top-class business hotel which is located 15 minutes from Brussels National Airport by complimentary hotel shuttle or taxi and 30 minutes by taxi from Brussels South train station (Thalys, TGV, Eurostar).​​​​

  • 15-16 March 2023, live online

    Day 1: 10:00 - 17:00 CET (Brussels/Amsterdam/Paris)
    Day 2: 09:30 - 17:00 CET (Brussels/Amsterdam/Paris)
  • 21-22 September 2023, face-to-face in Brussels

    Day 1: 10:00 - 17:15 CET (Brussels/Amsterdam/Paris)
    Day 2: 08:30 - 16:15 CET (Brussels/Amsterdam/Paris)
  • 21-22 November 2023, live online

    Day 1: 10:00 - 17:00 CET (Brussels/Amsterdam/Paris)
    Day 2: 09:30 - 17:00 CET (Brussels/Amsterdam/Paris)


Hotel Booking Assistance

Having built a strong relationship with the Courtyard Marriott Brussels Hotel, CELforPharma has secured preferential room rates for our delegates who book their accommodation three weeks or more prior to the course. Upon your registration, we will help you make your hotel booking. For any assistance in this matter please do not hesitate to contact Kealeigh Steel, Senior Programme Coordinator (kealeigh.steel@celforpharma.com, tel +32 (0)2 709 01 45).

Included in the Registration Fee - for the live online course​

  • Access to a small-class (max 20 participants), expert led course in real-time, using an interactive platform for break-out rooms, whiteboard exercises, polling, plenary discussions and chats.
  • Course material, which will be provided to you in both digital format (by email) and in hard copy (by post, so you can make notes during the course).
  • Certificate of attendance signed by the expert and CELforPharma.


Included in the Registration Fee - for the face-to-face course

  • Participation in a small-class (max 20 participants), expert led face-to-face course with interactive group exercises and plenary discussions. You will have the opportunity to meet the expert(s) and discuss your own projects/issues during the breaks.
  • Course material, which will be provided to you in both digital format (by email) and in hard copy (so you can make notes during the course).
  • Coffee, tea & refreshments during the course.
  • Informal networking lunch.
  • Group dinner in the evening of Day 1.
  • Certificate of attendance signed by the expert and CELforPharma.


Group Discounts

Team discounts can be offered to 3 or more delegates from the same company.
Contact Annelies Swaan, Director Business Operations, (aswaan@celforpharma.com) for more details.


How to Register

  1. Click the "Register Here" button on this page.
  2. Choose a course date, then fill out your personal details and company / invoicing details.
  3. Choose to pay via bank transfer or by credit card.
  4. Click "Confirm Registration". You will be sent an automatic email confirming your registration followed by a personal email containing an invoice and further payment instructions.

For assistance in registering, raising a PO or invoicing, please do not hesitate to contact Kealeigh Steel.
(email: kealeigh.steel@celforpharma.com or call: +32 2 709 01 45)


Transfer & Cancellation Policy

Flexible Transfer

  • If a registrant cannot attend the scheduled course, he/she can avoid any cancellation charge by sending a suitable replacement participant.
  • Alternatively, the registrant can transfer once at no extra cost, until 3 weeks prior to the event, to another course held within one year of the original course date.

Registration Cancellation

  • Less than 14 days prior to the course date: registrant liable to pay the full invoiced registration fee.
  • Between 15 and 30 days prior to the course date: registrant liable to pay 50% of the invoiced registration fee.
  • More than 30 days prior to the course date: registrant liable to pay a cancellation fee of € 450 per registrant.
  • If a registrant postpones his/her participation to a future course, and cancels again, no refund can be claimed for registration fees.

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