Life science companies face challenges
that are unique to their industry. For
example, the average timeline from discovery to market launch is 10 years, and
only one of every 5,000 compounds
screened actually gets FDA approval.
Additionally, the average cost for every
product that’s successful is in the neighborhood of $1 billion.
Smart Business talked to Patricia van
Damme, director of Global Entrepreneurship
& Life Sciences Program, Executive &
Specialized Programs, College of Business
Administration at San Diego State University,
about life science and how it’s changing the
way people get an education.
What makes the life science industry so different that it needs its own MBA?
Forty percent of all products fail due to
clinical reasons, but the rest fail because of
strategic, market, or safety issues. In order
to be effective, life science executives need
to understand and deal with issues such as:
- Long product time lines
- Huge development costs
- Regulatory/clinical hurdles
- Strict manufacturing requirements
- Need for long patent protection
- Reimbursement issues
- The public marketplace
The curriculum in this Executive MBA for
Life Sciences is tailored to specifically
address these matters.
Why is San Diego State University an ideal
site for a Life Sciences MBA?
This unprecedented online MBA for
Executives in Life Sciences is focused on
training executives in biotech, biomedical
and pharmaceutical companies in the ‘best
business practices’ of bringing a health care
product from concept to market. Having a
San Diego-based university offer the degree
underscores our region as being the ‘best
city to do biotech.’ This is due to the fact
that San Diego offers the most dense cluster
of biotech companies of any city in the
United States. During the residency period,
students will be taught by professors face-to-face, tour local biotech facilities and
receive seminars by top life science executives.
Why is this executive MBA mostly online?
This 21-month program is designed to
attract working life science executives from
across the globe, attracting students who
have diverse experiences in dealing with the
variety of issues involved in conducting clinical trials and receiving regulatory approval
in various countries. Courses will be utilized
from our existing and highly successful
online MS in Regulatory Affairs, which was
developed in a partnership between SDSU’s
College of Sciences and College of Business
Administration.
The online courses are taught by regulatory professionals and the face-to-face resident courses will be taught by business professors at SDSU and our partner, Kelley
Executive Partners at Indiana University.
The degree begins with a two-week residency period in San Diego. The residency period in Indiana is where students will visit
medical device companies, life science contract manufacturing facilities and a large
pharmaceutical company. An additional residency period in Washington D.C. is where
students will meet with FDA experts.
This unique Executive MBA for Life
Sciences is expected to prepare executives
to effectively lead the product development
and approval processes, accelerate the time
to market, decrease costs and bring potentially life-saving products to patients worldwide.
What will the curriculum look like?
The MBA for Executives in Life Sciences
is composed of 48 semester units of course
work: 12 units of core business courses tailored to the life sciences industry, 15 units of
managing innovation, 18 units of regulatory
affairs courses, and three units of culminating experience.
The program is designed to provide a
learning experience that will emphasize creativity, leadership and interpersonal skills.
Courses are structured sequentially so that
faculty can build upon the concepts and
skills presented in each preceding course.
Teaching methodologies vary with subject
matter and include classroom lectures, outside reading, case discussions, guest speakers, and individual and small group projects.
Many course assignments allow participants to apply the material directly to their
professional experience
Who is eligible to participate in the program?
Applicants are evaluated on the basis of
academic and managerial accomplishments, professional and educational goals,
desire to succeed, and potential for
advancement. uccessful applicants will
generally possess five to 10 years of professional full-time work experience, and will
have held executive or management level
positions. The applicant interview is an integral part of the admissions process and provides applicants with the opportunity to
elaborate upon their qualifications and ask
questions about the suitability of the program to their specific needs.
PATRICIA VAN DAMME is director of Global Entrepreneurship & Life Sciences Program, Executive & Specialized Programs, College
of Business Administration at San Diego State University. Reach her at (619) 594-8279 or [email protected].
