Notes from the East
Woods
musings on opportunities in the life science
marketplace
August 2009
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Greetings!
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This month brook trout help us catch more customers. Please have a read and feel free to let me know what you think. Thanks.
Regards,
Paul Danis
Founder and Principal
ps. if you missed some of our earlier Notes, you can see them here.
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Customers and Trout
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I had the good fortune to go fishing in northern Maine recently and while
reflecting on my fishing luck (or lack thereof...) saw many parallels with
fishing for customers. There are a few
important things to consider when trying to hook the wily trout. Time of day, type of bait, and where you go
are obvious. But some subtler effects
are often even more important - weather, how you work your line, and
the color of your shirt - and can spell the difference between wishful stories
and a full creel.
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The right bait - Floating a mayfly on the river in August will
not even draw a yawn, but a juicy worm in a small mountain stream will cause a
riot. Matching the product with the
desires, hopes, and needs of customers is the starting point for success. A keen understanding of their environment and
situation will bring you far down this road.
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Work your line - Just throwing your line into the water is
often not enough to get a bite. You need
to think about what the fish are thinking (I know this is a bit over the top,
but its true). They are expecting your
bait/fly/lure to act like what they see in nature. You need a strategy on how to work the
stream. Similarly your products have to
fit with how customers currently operate.
Products that slide into the customer's workflow have a much easier time
of it than those that need a completely different approach.
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The color of your shirt - You're probably wondering about
this one, but its true.. Fish are wild
creatures and become concerned (i.e. think they are about to become dinner for an
osprey) when a large bright thing appears above the water. With customers you need to treat them well
and not scare them away with claims filled with hyperbole. A sound market entry plan and good execution will bring customers to your products.
One additional piece is thinking about your prospects for the day while you are on the way to the river.
Before you put your line in, you will have an idea of what you hope will
happen. But one thing is certain - fish
or no fish, it is always rewarding to be on the river. Similarly it is always valuable to be out
amongst the customers. That is where the
action is, and that is how you improve your luck. After all, the first law of fishing applies
here - keep your line in the water if you want to catch fish.
ps. yes I did catch that little fellow in the corner.
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Life Science Market Update
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Index
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July Value
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Change YTD
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Yearly High
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Yearly Low
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EC BioTools
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594
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34%
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594
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411
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EC BigPharma
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770
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4%
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770
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617
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EC Biotech
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510
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4%
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510
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431
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For the fourth month in a row, all life science indices were up over the prior month and in addition, all have posted yearly highs. Gains were almost across the board but particularly noteworthy for a few companies. Varian is up 11 points on news of its acquisition by Agilent, HGS is up 11 on positive news of its lupus treatment, and Roche is up over 20 on its strong outlook. For all indices combined, advances led declines 7 to 1.
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Many of the life science
indices currently available are a mixture of various types of companies. In
order to better assess the situation in the different segments, Eastwoods
Consulting has created these price-weighted indices for the sectors of large
pharmaceutical companies, biotech companies, and life science research tools
companies.
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EC BioTools Index - A, ACCL, AFFX, BEC, BIO, BRKR,
CALP, DNEX, HBIO, HLCS, ILMN, LIFE, LMNX, PKI, QGEN, SIAL,
TMO, VARI, WAT
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EC BigPharma Index - JNJ, PFE, GSK, NVS, SNY, MRK, ABT,
LLY, AZN, WYE, BMY, NVO, BAX, TEVA, SGP, ROG.VX
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EB Biotech Index - AMGN, GENZ, BIIB, CEPH, GILD,
BMRN, AMLN, IDXX, SEPR, OSIP, PDLI, CPHD, ALKS, REGN, MEDX, THRX, HGSI, SGMO, NKTR
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Prices are
taken at the close of each month. YTD is the year to date change taken from the end of December, 2008.
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| About Eastwoods Consulting
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Eastwoods Consulting helps life science companies translate innovations into profits. Please visit our web site or contact us to learn more about how we help companies succeed in competitive markets.
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Copyright © 2009, Eastwoods Consulting. This
publication may be freely redistributed in full or in part as long as full
attribution including our contact information and web address, are included. Eastwoods is a registered servicemark of Eastwoods Consultng.
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