Fall Life Sciences Reception

Posted on August 29, 2019 by kconder

Indiana University Student Puts Biotechnology and Business Skills to the Test at His Roche Internship

Posted on July 23, 2019 by kconder

Fuhang Mou, Kelley Life Sciences Associate and Roche Diagnostics Corporation Intern

Kelli Conder

Associate Director

Center for the Business of Life Sciences, IU Kelley School of Business

This summer, Fuhang Mou is putting his knowledge of the healthcare industry to the test as a marketing intern at Roche Diagnostics USA in Indianapolis. He works with the marketing team in Roche’s Tissue Diagnostics business unit as well as with other teams in various business units for his cross-functional internship project.

Fuhang is having fun showcasing his creative, communication and strategic skill sets at Roche as he develops cross-functional strategies and implement solutions to improve Roche’s customer experience. He has found fulfillment in leveraging business to advance healthcare.

Roche Tissue Diagnostics is the global leader in solutions for anatomical pathology labs to diagnose cancer. They develop innovative pathology lab instruments, tissue-based clinical assays and software solutions that empower anatomical pathologists worldwide.

Mou has been pleasantly surprised by the casual culture and social nature of the organization:

“Roche allows for a dynamic flow of information and easy collaboration. The open workplace enables me to interact with different people each day. I like attending personal and professional development workshops, because I get to network with people all cross the company. Everybody is very friendly and open. The company has a strong focus on employee development and has lots of resources for that.”

Fuhang Mou initially was pursuing an undergraduate degree in biology to be on a pre-medical track, so a few years ago he would never have expected to be sitting in his current marketing position. Somewhere between exploring numerous career options and gaining experience in student organizations, Mou discovered an interest in the intersection between technology, business and healthcare. That’s when Mou decided to shift to biotechnology, pursuing the program offered through Indiana University’s College of Arts and Sciences.

A Bachelor of Arts (B.A.) in Biotechnology attracted Fuhang because it is designed to give students a strong background in the sciences to succeed in a pharmaceutical or biotechnological career. In partnership with the Indiana University (IU) Kelley School of Business, the B.A. curriculum offers life sciences-related business classes to help students obtain knowledge and skills necessary for marketing, sales and finance areas of biotechnology.

To beef up his business acumen, Fuhang chose to double minor in marketing at the Kelley School of Business and healthcare policy and management through the O’Neill School of Public and Environmental Affairs. While at Kelley, Fuhang learned about the Certificate in the Business of Life Sciences offered through the Center for the Business of Life Sciences (CBLS).

Even with all these courses, Mou decided to apply for the certificate. He got accepted into the certificate program as a student associate and took his first business of life sciences course called Global Events and Trends Impacting the Life Sciences Industry during his junior year. Mou shared what this course meant to him:

“The [business of life sciences] course exposed me to the industry through the lens of various players in life sciences. I learned a lot about the language used in the industry as well as how those different players work together. It was also a great way to network and learn from so many companies. Through the course, I met other students with similar interests and working with them was great fun.”

The “players” Mou refers to are industry executives and subject-matter experts that come to guest speak on a weekly basis to share their perspective on different topics related to the life sciences industry ranging from digital health to government regulations.

Mou’s curiosity motivated him to attend the Indiana Life Sciences Collaboration Conference events held by the Center for the Business of Life Sciences. He was determined to take advantage of as many resources as he could through IU to prepare him for his career.

“The most memorable conference that I attended last year was the Healthcare Industry in Pain Management and Addressing the Opioid Crisis. It was a really informative experience because pain management and the opioid crisis was not something that I knew a lot about previously. Learning about how the opioid crisis impacts Indiana and the rest the of country as well as about ongoing research and innovations was extremely enlightening.”

Fuhang credits these structured courses and the networking opportunities he received with professionals during these conferences to help him to gain a better understanding about the industry prior to his internship. He also conducted personal research of healthcare trends, companies and processes using online resources such as FiercePharma and FierceBiotech.

It’s no surprise that Fuhang felt even more prepared for his Roche internship after his student team won their business of life sciences course case competition, a semester-long group-consulting project. The project was a real business challenge presented by Cook Medical, the largest privately-held medical device company in the world. This hands-on learning experience allowed teams to develop a go-to-market strategy for a US product launch of a new vascular access product and allowed Mou to get experience to jumpstart his summer at Roche.

Winners of Spring 2019 Undergraduate Life Sciences Course Project: Austin Vermillion, Amee Sangani, Morgan Cary and Fuhang Mou

This fall, Fuhang will be back on campus for his senior year. He will be continuing his exploration of the industry through the CBLS. He is interested in digital health, companion diagnostics and pricing for pharmaceuticals and biotechnology. As far as advice to other students, Mou says,

“Don’t be afraid to jump in and start learning. The life sciences industry has so many moving parts. Understanding how the many moving parts work together is so beneficial. Network with professionals in the industry to get a strong starting point for exploring the industry.”

After graduation in May 2020, Fuhang would like to continue working for a large biotechnology or pharmaceutical company and be part of cross-functional teams to gain more exposure and skills across different business units. He is excited for what lies ahead thanks to the jumpstart and experiences he has gained here at Indiana University.

About the Kelley School of Business and the Center for the Business of Life Sciences:

The Kelley School’s Center for the Business of Life Sciences was started with the belief that life sciences companies are essential economic drivers for growth and employment. To ensure the success of the industry as a whole, however, requires a broad collaboration of science and business acumen. The CBLS brings together students, faculty, life science companies, and other corporate partners to:

attract top students interested in careers in life sciences and develop them into strong future leaders for the life sciences industry
support research on significant issues and questions faced by the industry
provide a forum allowing companies and other corporate partners to connect with industry-focused students
create significant networking opportunities for students, faculty, companies, and friends to connect in order to strengthen Indiana’s life science industry

3 Easy Steps to Keep Up with the Healthcare Industry

Posted on July 9, 2019 by kconder

Photo Credit: @42Gears

Kelly Leung

Kelley MBA | PLUS Life Sciences Academy | Commercial Leadership Development Program Intern at Baxter International Inc.

Coming from a career where I worked in a variety of industries— from automotive to consumer electronics to medical device technology— I learned firsthand that healthcare is by far one of the most complex spaces to work in. Not only are decisions are made based on economic, financial and clinical factors, but life sciences and healthcare are also driven by ever-evolving regulations that vary by geography. All the while, it’s an incredibly sensitive and important area that affects each and every one of our lives. Needless to say, there’s a steep learning curve in transitioning to the healthcare industry from a different sector because with so much changing, it can be hard to keep up with the latest developments.

As a full-time Master of Business Administration (MBA) student at the Indiana University Kelley School of Business, my involvement in the PLUS Life Sciences Academy has connected me with a wide array of professionals, topics and companies in healthcare. It has served as an excellent launch pad to lead into my Commercial Leadership Development MBA Internship at Baxter International. After completing my first year of the academy, I felt better prepared for my internship, and the program insights have served me well in my summer position. Here are some steps that have helped me, and that you can take to keep up with the life sciences and healthcare industries:

1. Leverage LinkedIn and Events to Explore Healthcare

One of the fastest ways to learn about the industry is by getting involved in local healthcare events and talking to the people that work in it. Stepping out of your daily routine to connect with new people helps you learn about how the different parts of healthcare operate, and it can help you decide what direction you may want to go— from pharmaceuticals to health insurance, medical device, services, electronic health records, and more.

Leverage LinkedIn, career centers at your university, or healthcare meetups and conferences to network with alumni and professionals in a segment and/or company of interest. Follow some of the companies you want to learn more about so their latest announcements show up in your feed. There are dozens of healthcare-focused professional associations and groups on LinkedIn that you can join to connect with professionals in the industry and learn about the latest hot topics. The Center for the Business of Life Sciences has a LinkedIn group that posts recent healthcare news that helps me keep up with changes.

Setting up coffee chats or lunches with employees in various departments and functions (even if they aren’t roles that you are exactly aiming for) is a great way to learn about the different business units and happenings at a company. People are usually happy to talk to others that show interest in their work and industry— be curious and ask good questions! Talking to people in the industry can give you an alternate perspective that may not be in online articles or company pages. You can quickly learn about challenges, culture, competitive landscapes, tips and more.

Pay attention to how roles are affected from different healthcare company to company. For example, marketing at a pharmaceutical company is vastly different than at a medical device company or health records software company. At the end of a conversation, don’t forget to offer a way to return the favor and see if they could connect you with others who can also offer valuable insights.

2. Use Healthcare Glossaries and Videos to Learn the Lingo

This one’s especially important if you’re new to healthcare. Healthcare is quite technical, and you may be expected to know the lingo regardless of whether you are in a scientific, technical or clinical role or not. Healthcare companies want engaged employees that understand the product, customer, and industry, even if the employees are on the business side.

When reading up on content in your area of interest, make note of and look up the unfamiliar terms. I especially find it useful to keep a working glossary of acronyms and technical terms to refer to. The sooner you start learning the latest and the lingo, the more you can have to talk about while networking.

Utilize university or company libraries or other online resources such as the New England Journal of Medicine to find research papers defining terms. Healthcare.gov has a great glossary of terms as well. Educational videos on the Internet can help you visualize and gain a more in-depth understanding of terms and systems. Armando Hasudungan, MedCram, and Osmosis all have video libraries with succinct explanations of various medical topics.

3. Subscribe to Various News Channels to Help You Do Research

Fortunately, there’s an abundance of channels to receive healthcare industry news— you just have to find the ones that fit your routine and have the content you’re looking for so that when you choose to subscribe, you don’t feel overwhelmed because you only focus on specific channels. Even if you spend 15 minutes a day reading a few of the latest articles, you will be one step ahead!

There are free medical news mobile applications available to help you stay on top of the news such as Medscape MedPulse News.
You can bookmark news pages for specific topics of interest such as MassDevice for medical device news or FiercePharma for pharmaceutical news.
It’s likely that some of the major news outlets you already follow have pages set aside for the healthcare news! Check out pages by the New York Times, Wall Street Journal and Washington Post.
Healthcare is a hotbed of innovation, so it’s good to keep an eye out for potential disruptors in the industry. Newsletters, such as Forbes’ Innovation Rx, exclusively focus on the latest developments in medicine and health. PricewaterhouseCoopers and CB Insights’ Healthcare MoneyTree Report gives quarterly reports on US venture capital funding for startups and small businesses in healthcare— note that these funds are going to companies with the greatest potential to improve the effectiveness and efficiency of healthcare.
Major consulting firms such as PricewaterhouseCoopers, McKinsey, Bain & Company and others have insight pages with high-level overviews and trends in healthcare.
Set up Google Alerts for healthcare topics of interest to be delivered directly to your email inbox! You can specify search phrases for your Google Alert. For example, using “pharmaceutical marketing,” “healthcare artificial intelligence,” “diabetes study,” “home health software,” etc.
Follow relevant hashtags (#healthcare, #healthIT, #FDA, etc.) on your social media platform of choice to get industry updates in your feed.

The healthcare industry is as complicated and dynamic as it is rewarding to work in. There are countless ways to keep up with this industry and these are just a handful of my suggestions. I’d enjoy hearing what tips have helped you succeed in learning the life sciences and healthcare industries. Feel free to add your tips in the comments below!

Jonathan Amos MBA Internship at GlaxoSmithKline

Posted on July 1, 2019 by kconder

How a Kelley MBA Student Went from Running a GlaxoSmithKline 5K to their Associate Brand Management Intern

Cullie Poseria

Marketing Strategy | Product Marketing | Creative Videography, Photography and Film Production

Jonathan Amos is yet another talented young professional propelling his career with the Indiana University Kelley School of Business Master of Business Administration (MBA) full-time program and PLUS Life Sciences Academy. Jonathan, a Texas native, is the youngest of four brothers and the last brother to pursue his MBA.

With a background in auditing, accounting and consulting, Jonathan discovered his interest and passion in the healthcare industry when he had a position at Novartis:

“Novartis cultivated my values, helping me realize what’s truly important to me. Working in a healthcare-focused company, I realized the culture was heavily rooted with compassion for the consumer. I truly understood the impact I provided being able to change lives on a daily basis through the initiatives I promoted within my role.”

While at Novartis, Jonathan had the opportunity to discuss spending trends and learn different areas of the business during company board meetings. He became excited by the profit-driven and competitive nature of marketing. That is when he decided to get his MBA in marketing and entrepreneurship to make a career transition. He said, “during my career transition, my focus will be to communicate innovative marketing solutions in the healthcare space by championing creativity and collaboration.”

Since joining the Kelley MBA program, Jonathan has been an active participant in the PLUS Life Sciences Academy and Healthcare Club. Jonathan felt that PLUS Life Sciences laid the foundation for his understanding of the healthcare space, and, unsurprisingly, he was voted to be the Vice President of the Healthcare Club for the 2019 through 2020 school year.

In one year, Kelley has also helped Jonathan build his marketing acumen through the Consumer Marketing Academy and his marketing strategy consulting projects with Procter & Gamble and SMAid International. When asked about his goals, Jonathan shared,

“Post-MBA, my goal is to take on a marketing strategy role, where I will utilize the skills I have fostered through my time in consulting, healthcare and while at Kelley to understand and connect with people, to facilitate multi-functional growth and to drive meaningful change in my organization, industry and community.”

Photo Description: Jonathan Amos’ first-ever 5K race was the GlaxoSmithKline Consumer Healthcare Commercial Planning Meeting in Orlando, Florida.

These combined experiences spurred his interest in brand management and helped him land his summer internship during a Consortium for Graduate Study in Management orientation program as an Associate Brand Manager MBA Intern for GlaxoSmithKline (GSK) in Warren, New Jersey. IU has been a member of the Consortium since 1966, and Jonathan was awarded a Consortium Fellowship to attend Kelley. GSK was a company Jonathan had initially gotten to know through his first-ever 5K race, which he did at the GSK Consumer Healthcare Commercial Planning Meeting in Orlando, Florida.

Jonathan shared some insight on his GSK internship he started at the end of May.

“GSK has plenty of great brands to work with such as TUMS, Excedrin, Sensodyne, Flonase and Nicorette. I believe working with these brands will grow my skillset in the healthcare industry. As a brand manager, I work cross functionally, and I have learned the importance of effectively communicating to bring a quality product to market. Being able to incorporate past learnings in my work from team-based school projects and academy lectures has helped tremendously.”

Jonathan also gave us his experience with the company culture.

“All interactions with the recruiting team and employees were organic, and they consistently checked in with me throughout the school year. I choose GSK because I felt that it was a company where I could be my authentic self. The aspect that surprised me most was how flat the organization is. I have close visibility to the Chief Marketing Officer. They promote transparency and have allowed me to understand how organization decisions are made and the data that is used to support those decisions.”

Photo Description: Kelley MBA student Jonathan Amos poses during his first day as an Associate Brand Management Summer Intern at GlaxoSmithKline in Warren, New Jersey.

“I believe the consumer healthcare products segment is unique because it allows me to directly interact with the consumer–understanding their needs and behavior. These products are cost effective for individuals that socioeconomically can’t afford the type of insurance that pays for prescriptions. Raising awareness for products that are effective and life changing is something that I take pride in.”

There are numerous leadership opportunities for MBA graduates looking to work in the healthcare space to make an impact, and healthcare is one of the fastest growing industries. Jonathan was able to share his perspective on how IU and the PLUS Life Sciences Academy helped him transition his career in healthcare, and it’s not too late to kickstart yours! Whether incoming MBA students are looking to participate in the Kelley Healthcare Club, go on the annual healthcare trek, complete The Washington Campus healthcare policy partner program or join the PLUS Life Sciences Academy, they will have a multitude of resources available to them to grow their career.

Learn more about the program, the executive certificate or join our LinkedIn group to hear the latest on how our students and alumni are making an impact in the life sciences and healthcare industries.

About the Kelley School of Business and the Center for the Business of Life Sciences:

The Indiana University (IU) Kelley School of Business has a unique program run by the Center for the Business of Life Sciences (CBLS) called the PLUS Life Sciences Academy, which allows MBA students to learn about the life sciences and healthcare industries through classroom discussions but also to take part in numerous interactions with professionals from companies like Eli Lilly and Company, Abbott Labs, Anthem, Zimmer Biomet, Mead Johnson Nutrition and more. Students can choose to complete certain course requirements to obtain a certificate of participation, and they also have opportunities to do hands-on consulting work for companies like Cook Medical and IU School of Medicine.

2018-2019 Indiana Life Sciences Conference Series Concludes with Conference on Food, Diet and Healthcare

Posted on May 16, 2019 by kconder

On May 10th clinicians, researchers, regulators, economists, insurers and goods manufacturers lent their expertise at the Indiana Life Sciences Collaboration Conference, The Intersection of Food, Diet and Healthcare in Indianapolis. The dynamic discussion ranged in topic from preventative health, food insecurity, food labeling (GMO, organic, etc.), the microbiome, metabolic syndrome, regulation, resources and consumer behaviors.

A special thanks to all the presenters as well as Corteva Agriscience, Elanco, Ice Miller LLP, IU Office of the Vice President for Engagement, Mead Johnson Nutrition, Purdue University Reckitt Benckiser and Zimmer Biomet for helping to put together an outstanding conference!

Links to other resources discussed:

International Food Information Council Foundation Website

Biotechnology Innovation Organization Website

Jayson Lusk, Food and Agricultural Economist & Department Head/Distinguished Professor, Agricultural Economics, Purdue University Website

Humana Bold Goals Website

Intrexon Website

Indiana Biosciences Research Institute Website

SAVI Program by The Polis Center at IUPUI, one of the country’s first and largest online community information systems serving hundreds of organizations, training hundreds of people and offering free data to thousands of users. SAVI Website

Mead Johnson Research & Innovation Website

We hope you are able to join us as the Center for the Business of Life Sciences continues discussions on relevant topics that impact the life sciences industry during the 2019-2020 Indiana Life Sciences Collaboration Conference series!

The Intersection of Food, Diet, and Healthcare

Posted on April 23, 2019 by kconder

Are you interested in how food interacts with your body at the molecular level? The opportunities to put it to use for population health are significant. As well, an appreciation of the role of social determinants in health has increased over the last several years. Besides helping feed the world’s growing population and affecting the social determinants of health, the potential of gene-edited crops to act as treatments for a variety of conditions could meaningfully reduce future healthcare costs. How these products are labeled, marketed and sold is a part of the equation as well. Stakeholders and observers will share their thoughts and opinions on the benefits and concerns regarding this part of the life sciences industry.

*If you are currently enrolled as a student, please contact Kelli Conder, kconder@indiana.edu to attend at no charge.

Undergraduate and Graduate Business & Science Students Earn the Certificate in the Business of Life Sciences

Posted on April 16, 2019 by kconder

Over thirty MBA, graduate science as well as undergraduate business and science students completed the requirements to earn the Certificate in the Business of Life Sciences issued by the Center for the Business of Life Sciences at the IU Kelley School of Business.

To eligible for the certificate, students must complete 3 credit hours of life sciences course work with an array of special opportunities to interact with top leaders in the field of life sciences in addition, students must attend extracurricular life sciences events to learn more about the industry.

Kelley MBA Recipients

Abiodun Ajayi, Joseph Amos, Daniel Caron, Salika Chaudhary, Kareem Edwards, Chris Forhan, Jose Grasso, Juan Javier Hagei, Wei-Hsun Huang, Yun Huang, Michele Hung, Emily Keane, Kyle Kelly, Aaron Malone, Mark Martinez, Matthew Nash, Javier Oda, Stephen Schenk, Michael Strus, Suyuan Tian, Shuhan Yang, Richard Zhao and Tim Zuberi

Graduate Science Recipients

Layla Milton, Vidula Deshmukh, Rose Pletcher and Taylor Truex

Undergraduate Business & Science Recipients

Morgan Cary, Stephen Chapman, Alyssa Claymiller, Brian Kim, Leah Liu

IU Life Sciences Day at Kelley: A Discussion on Pricing in Healthcare

Posted on April 16, 2019 by kconder

The annual IU Life Sciences Day at Kelley this year focused on value based pricing in healthcare. The Center for the Business of Life Sciences would like to thank the Workman Family Charitable Fund and the Bloomington Economic Development Corporation for sponsoring the event. A special thanks to Center for the Business of Life Sciences Graduate MBA Assistant Stephen Schenk for coordinating the discussion and serving as moderator!

A keynote presentation was delivered by Stephen Dunbar, Managing Director at Simon-Kucher & Partners. Mr. Dunbar currently manages Simon-Kucher’s Chicago office. Some of the tasks he has assisted many pharmaceutical, medical technology and animal health companies with include: EU and US pricing, market access, reimbursement, assessing viability of potential innovative contracting strategies and optimizing value communication/messaging.

Followed was a panel featuring different perspectives: Mike Funk Humana (payer); Liz Kirk, Strata Decision Technology (Delivery); Ken Nicholson, Cook Medical (device) and Thomas Creveling, Eli Lilly (pharma).

Liz Kirk, Senior Vice President of Client Services for Strata Decision Technology has twenty years of experience as a hospital administrator and consultant. Ms. Kirk currently leads a team of industry thought-leaders, developers and consultants to partner with healthcare providers across the country to transform financial management and performance improvement.

Ken Nicholson, Director of Global Contracts and Commercial Business for Cook Medical has over thirty years of experience in various roles in the healthcare device market. Mr. Nicholson and his teams work directly with customers (hospitals, government entities, IDN’s and GPO’s) seeking to enter into purchasing agreements with Cook Medical, Inc.

Thomas Creveling, Director of Global Pricing, Reimbursement and Access at Eli Lilly develops global payer strategies for molecules/indications in development. This involves understanding how payers will assess value of specific indications, providing input into clinical trials to ensure Lilly generates data needed to demonstrate value, develop market access materials to communicate value and support negotiations in key markets.

Mike Funk, Vice President, Office of the Chief Medical Officer for Humana is responsible for thought leadership in transforming to value-based care. Mr. Funk currently focuses on developing value-based programs and assisting physicians with tools, capabilities and best practices for transitioning from fee for service.

Stephen Dunbar Liz Kirk, Ken Nicholson, Thomas Creveling, Mike Funk

Student Event – IU Life Sciences Day at Kelley

Posted on March 22, 2019 by kconder

Friday, April 12th

9:30am – 1:00pm

Kelley Godfrey Graduate & Edu. Center – CG 1032

Value Based Pricing: The Big Picture

Simon-Kucher Consulting Firm

Value Based Pricing From Four Perspectives

Providers – Strata Decision Technologies

Payers – Humana

Pharmaceutical – Eli Lilly and Company

Medical Device – Cook Medical

Followed by a Networking Lunch

*Please RSVP to Kelli Conder – lifesc@indiana.edu

Takeaways from Attending Conference on Pain Management & the Opioid Conference

Posted on February 27, 2019 by kconder

Fuhang Mou

Undergraduate in Biotechnology, Indiana University

Business Associate, IU Kelley School-Center for the Business of Life Sciences

Consider this: “Over the past 15 years, the number of opioid overdose deaths in Indiana has risen by more than 500 percent, while misuse of these drugs has cost the state a total of $43.3 billion” (Indiana Business Review, 2018). Last week, I attended the Indiana Life Sciences Collaboration Conference: The Healthcare Industry in Pain Management and Addressing the Opioid Crisis at the Cook Medical headquarters. It was an enlightening experience that featured a variety of experts who spoke on topics including the opioid and substance abuse crisis in Indiana, how people with substance abuse disorders may be supported, and the ongoing research and innovations that include neuromodulation, pharmacogenomics, digital health solutions, and medical technologies. Thank you to all the speakers, the IU Kelley School Center for the Business of Life Sciences, and all the sponsors for such an insightful conference.