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Biopharmaceutical Panel

“Changing Business Models to Promote Innovation and Growth in a Challenged Pharma Environment”

  • Moderator: Professor Cliff Cramer, Adjunct Professor and Director, Healthcare and Pharmaceutical Management Program, Columbia Business School
  • Jay Galeota, President, Hospital and Specialty Care, Merck & Co.
  • Lisa C. Gill, Managing Director, Senior Analyst Equity Research, Healthcare Technology & Distribution/PBMs, J.P. Morgan
  • Roger J. Hill PhD, Executive Director & Head, Global Licensing - Commercial Opportunities, Boehringer-Ingelheim
  • Rachel Humphrey MD, Vice President Global Development, Bristol-Myers Squibb
  • Kevin McDermott, Vice President Managed Markets, Daiichi Sankyo, Inc.



  • Criteria companies are using to select and prioritize assets in their portfolios that can generate acceptable ROIs.
  • Examples of effective risk mitigation strategies employed at various stages of a compound’s development and commercialization path.  
  • Changes in the oncology landscape (development, regulatory, payor/reimbursement, etc.).
  • Convergence of devices and diagnostics (e.g., biomarkers) with therapeutics and its impact on product development, marketing and pricing.
  • Current trends and effective strategies in managed care/PBM contracting, including impact of technology and use of enhanced patient and physician data.   
  • Use of comparative effectiveness studies in payor and marketing strategies.
  • Product life cycle management strategies including line extensions, Rx-to-OTC switches, branded generics, and biosimilars.

Cliff Cramer
Adjunct Professor and Director, Healthcare and Pharmaceutical Management Program
Columbia Business School

Cliff Cramer spent over 25 years as a senior professional in the financial services and healthcare/ pharmaceutical sectors. He was Managing Director at JP Morgan and Merrill Lynch in their global healthcare investment banking groups, and Vice President, Corporate Planning & Development at Merck & Co., Inc., with worldwide responsibilities for strategic planning and business development.

Mr. Cramer’s previous experience includes the co-founding of American Health Capital / VHA Enterprises, Inc., a healthcare/ financial services firm serving the capital needs of multi-hospital systems and other healthcare providers, and investment banking positions with Paine Webber, Inc. and L.F. Rothschild, Unterberg, Towbin, Inc. Mr. Cramer serves as board member (past president) of Big Brothers Big Sisters of Mercer County, NJ.

Mr. Cramer is currently Director of the Healthcare and Pharmaceutical Management Program and Adjunct Professor at Columbia Business School. He teaches two MBA courses: Strategy and Competition in Pharmaceuticals and Biotechnology, and Healthcare Investment and Dealmaking.

Jay Galeota
President, Hospital and Specialty Care
Merck & Co.

Jay Galeota is president of the hospital and specialty care customer business line for Merck Global Human Health (GHH), which includes immunology, oncology, hepatitis, HIV, neuroscience, ophthalmology, antibiotic, antifungal, thrombosis, anesthetic and antiarrhythmic products. The hospital and specialty care business represents close to $11 billion in worldwide revenues for Merck.

Previously, Mr. Galeota served as senior vice president of GHH strategy and business development, and he continues to lead this group. Strategy and business development is responsible for identifying new models and business development opportunities that broaden the GHH portfolio and establish leadership in Merck's franchises and markets.

Since joining Merck in 1988 as a sales representative, Mr. Galeota has assumed a variety of U.S. and global roles with increasing leadership responsibility. In Merck's U.S. division, he managed promotion of the anti-ulcer drug PRILOSEC and VASOTEC for high blood pressure. He also served as product manager for ZOCOR and marketing director and senior director in Merck's osteoporosis business group during the launch of FOSAMAX.

As U.S. senior business director, Mr. Galeota led Merck's highest revenue U.S. sales region. He later assumed roles as vice president of worldwide marketing for the atherosclerosis and diabetes franchise; general manager of the global commercialization team for JANUVIA, where he led the launches of JANUVIA and JANUMET; and senior vice president and general manager of the diabetes and obesity franchise. After the merger of Merck and Schering-Plough in 2009, Mr. Galeota led the integration of the global pharmaceutical and vaccine businesses.

Mr. Galeota holds a Bachelor of Science degree in biology from Villanova University and is a graduate of Harvard Business School's Advanced Management Program. He currently serves on the boards of Solaris Health System, Inc., Global Health Innovation Fund LLC, the New Jersey Symphony Orchestra, and the Metuchen Edison Woodbridge YMCA.

Mr. Galeota is married and has three children. In addition to business, his interests include sailing, skiing, flying, automobiles and music.

Lisa C. Gill
Managing Director, Senior Analyst Equity Research, Healthcare Technology & Distribution/PBMs
J.P. Morgan

Lisa Gill has been a leading member of the healthcare equity research team at J.P. Morgan since 1998. She is a Certified Public Accountant and has over fifteen years of diversified healthcare experience. She was promoted to Sr. Publishing Analyst in June 2000, and currently is responsible for coverage of 15 companies within the healthcare distribution, PBMs, drug retail and institutional pharmacy sectors.

She began her career with Ernst & Young's audit group specializing in health care facilities. She then worked in Coopers & Lybrand's healthcare services consulting group specializing in physician and long-term care reimbursement. She joined Health Partners in 1996 as Director of Development, where she acquired physician practices in NYC.

Lisa is a well-recognized expert in her field ranking first on Institutional Investor’s All American Research Team, and also ranked first by Greenwich Associates, in 2010. She is a member of the IBWN (Investment Bank Women’s Network) and is the research captain of the Columbia Recruiting Team. She holds a B.B.A. in Accounting from Siena College. Lisa lives in NYC with her husband and two daughters.

Roger J. Hill PhD
Executive Director & Head, Global Licensing - Commercial Opportunities

Dr. Hill's responsibilities include identifying and executing Business Development & Licensing opportunities that add value to Boehringer Ingelheim's Prescription Medicine and CHC franchises in both mature and emerging markets. Following extensive Therapeutic Area R&D experiences at Sterling Winthrop Pharmaceuticals and Pfizer Global Research & Development, Dr. Hill transitioned to Business Development at Pfizer, and in 2008 joined Boehringer Ingelheim, based in Ridgefield, CT, USA. As a Business Development & Licensing executive Roger has expertise in product sourcing, due diligence, contract negotiations and legal transactions. Prior to 2007 Dr. Hill was a Research & Development Therapeutic Area Director at Pfizer with leadership responsibility for multiple CardioMetabolic disease areas, including Cardiovascular and Frailty. Dr. Hill was recently nominated to the Irish Government’s 2010 "Life Science Top 50" recognizing influential Irish Americans in life sciences. He holds a Ph.D. degree in Pharmacology from University College Dublin, Ireland, and an MBA in Hi-Tech Finance from Northeastern University, Boston.

Rachel Humphrey MD
Vice President Global Development
Bristol-Myers Squibb

Dr. Rachel Humphrey graduated from Harvard College with a degree in Biochemistry. She received her medical degree from the Case Western University School of Medicine and did her medical internship and residency at the Johns Hopkins Hospitals. Sub-specialty training in Medical Oncology was done at the National Cancer Institute in Rockville, Maryland where she remained on faculty in the Medicine Branch, working bench to bedside for 5 years in HIV and AIDS malignancies.

Next, at Bayer Pharmaceuticals, she directed the global development of 9 clinical candidates from their earliest pre-clinical phase sometimes into phase I-III studies. Sorafenib (Nexavar), which was approved for use in Renal Cell and Liver cancers, was developed under her leadership. She also supervised the development (and discontinuation) of an IL-2 selective agonist for the treatment of melanoma, a project that brought her in touch with immuno-oncology in the late 1990’s.

After over 6 years at Bayer, she moved to Bristol Myers Squibb (BMS) where she has served as Vice President, Global Development Lead of YERVOY, leading the project since May, 2003 to U.S. approval and launch in March 2011 with filings pending in several other countries. In this capacity, she heads up the development of ipilimumab (a CTLA-4 antagonist) in Melanoma as well as leads the effort to broaden the scope of immuno-oncology at BMS. She has served on the Board of Directors of the international Society for Biological Therapy of Cancer (iSBTc) from 2005-2008. Her list of publications includes over 36 full articles and abstracts relating to the pre-clinical and clinical science of HIV, AIDS malignancies, immuno-oncology and cancer drug development.

Kevin McDermott
Vice President, Managed Markets
Daiichi Sankyo, Inc.

Kevin McDermott is the Vice President, Managed Markets for Daiichi Sankyo, Inc., (DSI) where he founded the Center for Health Care Consumerism, a powerful tool to encourage and equip DSI’s customers with insights on how consumers develop health-promoting behaviors, make their health care decisions and follow healthcare provider recommendations.

An industry veteran with more than 20 years in managed markets, Mr. McDermott spearheads the value selling, pull-through, contracting, trade & institutional, customer value marketing, value pricing & access and strategic project management functions. Mr. McDermott joined DSI as National Director of Managed Care in 2004.

Mr. McDermott began his career at Parke-Davis where he held a number of positions, and also helped lead the managed care launch of Lipitor and the managed care marketing responsibilities for Accupril. Following, he joined Aventis (now Sanofi) Pasteur, where he championed the managed care department and led efforts to improve the reimbursement and utilization of pediatric, adolescent and adult vaccines.

Mr. McDermott graduated from Hillsdale College with dual degrees in Biology and English. He is also a Senior Fellow with the Jefferson School of Population Health at Thomas Jefferson University.