Recently, the role of business development (BD) in the pharmaceutical and biotech industry has been rapidly advancing. Previously regarded simply as a sales task, BD changed to one of the core strategic teams that oversees the success of new drug development.

BD is responsible for key discovery and execution of various opportunities for new drug commercialization, including domestic and overseas market analysis, candidate product entries, license-out (L/O) agreements, strategic collaborations, and joint research.

Now, BD is an essential expert team required for the success of new drug development. However, it was once seen as simply a sales team.

Recently, as the importance of BD has been highlighted, BD's role expanded, and the industry often says that 'BD is the competitiveness.'

There are cases where the achievement of new drug L/O (technology transfers) has significantly changed the corporate value. Therefore, a BD team is no longer considered simply a subordinate team but a strategy team responsible for determining the success of new drug development.

This aligns with major pharmaceutical companies in Korea that run convergent R&D and BD teams, keeping commercialization in mind from the early stages of research. Their goal is to create synergy between research and BD.

Park, Yeong-Min, Business Head of the National New Drug Development Division, emphasized, "A precise commercialization strategy is necessary from the early stages for successful new drug development."

However, despite such changes, clinical practices are challenged with BD talent shortages. A biotech company head stated, "Talents with both technological understanding and business communication skills are difficult to find. Therefore, collaborations and supplementation are mandatory."

It is challenging to find BD talents who simultaneously possess technical expertise, negotiation skills, and an understanding of the global market.

To address this talent shortage, organizations like the Korea Drug Development Fund (KDDF) are running programs such as 'Young BD' workshops to strengthen the practical capabilities of young professionals.

However, these initiatives are criticized for still being insufficient for effective talent development, as they cannot replace real-world experience and face structural limitations such as short training periods and limited enrollment.

The global competitive environment further emphasizes the importance of BD talent training. With Chinese biotech companies recently surpassing those in South Korea in securing large-scale technology exports, many analyses suggest that soft skills, such as business strategy and negotiation prowess, are crucial beyond just technical excellence.

Several experts said, "It's difficult to be competitive in global partnering by only emphasizing technological prowess," and added, "Strategic capabilities to accurately convey the value partners seek are desperately needed."

With the new government taking office, attention is also being drawn to potential changes in bio-industry policy. The industry anticipates practical support measures from the government for nurturing BD professionals across the entire cycle, from R&D to commercialization.

The Korea Pharmaceutical and Bio-Pharma Manufacturers Association also recently emphasized, "We must expand support for late-stage clinical trials and companies closer to the commercialization phase," adding, "The government's pharmaceutical and bio R&D policy should be restructured to focus on achieving tangible results."

Fostering BD talent is no longer an issue for individual companies but a challenge directly linked to the competitiveness of the entire industry ecosystem.

Only when the harmonious development of R&D personnel, who drive technological innovation, and BD personnel, who connect this to success, is supported can South Korea truly leap forward as a new drug powerhouse. It is time for companies, academia, and the government to collectively gather their wisdom to bridge the gap between technology and communication.