Going into a pharma/biotech licensing discussion without a structured plan can cost the company millions in value.
This checklist was developed with Dr Roger Cox, CELforPharma expert-trainer of The Pharma Licensing Negotiation Course and licensing veteran. It highlights practical steps to prepare effectively, from financial scenarios to deal tactics, so you enter your next negotiation better equipped.
1. Define clear objectives
- What do you want from the deal?
- What’s your minimum acceptable outcome?
2. Anticipate the hard questions
- Identify the tough issues you’d rather avoid.
- Prepare reasoned responses in advance.
3. Map the financials
- Run NPV/eNPV scenarios to test the impact of different deal terms.
- Understand your walk-away point (BATNA).
4. Benchmark & research
- Compare against similar deals, royalty rates, and milestones.
- Study the other party’s position, leverage, and motivations.
5. Plan concessions & trades
- Decide what you can afford to trade — and what you must protect.
- Link concessions to trades and present them to maximise their perceived value to the other party.
6. Set realistic goals & limits
- Scope out your ZOPA (Zone of Possible Agreement).
- Don’t start with your final offer.
7. Prepare your mindset
- Stay optimistic, patient, and motivated.
- Be emotionally ready for long discussions and setbacks.
✅ Ready to Turn This Checklist Into Real-World Skills?
A checklist helps you prepare, but real learning comes from practice!
🎓 If you want to learn about:
- The skill set required to successfully negotiate licencing deals in the pharma-biotech world, to persuade and build consensus.
- What you need to prepare and check before starting a negotiation.
- The methods for determining value and how to use a financial modelling spreadsheet to improve negotiation outcomes.
- Practise negotiating skills in four interactive role-plays featuring typical Pharma/Biotech licensing situations.
- The differences between integrative and distributive negotiation strategies and tools to improve leverage.
- The various types of licencing agreements used in pharma-biotech, and methods to determine royalty rates and value sharing.
👉 Attend Dr Roger Cox's highly praised 2-day course:
The Pharma Licensing Negotiation Course
With Dr Roger Cox
