Coherus BioSciences develops biosimilar drugs, which are approved, nearly identical copies of original biologic drugs that can be manufactured when the original product’s patent expires. The biosimilar drug market is currently valued at $108 billion and growing. Even with such a positive outlook, like other pharmaceutical manufacturers, Coherus must cope with long product development cycles. Whenever there are delays in project timelines, forecasts must be updated. The company also depends on capital markets for additional funding, so the timing and magnitude of financing hinges on accurately determining when products will reach the market, and the impact of market entry delays. Now, a robust events-based forecasting solution is enabling Coherus to tackle these challenges with ease. With Adaptive Planning’s easy-to-use interface and the ability to warehouse critical company data, work teams can readily connect all related tasks to a clinical milestone to create a forecast. Whenever a milestone changes, all tasks in the forecast are automatically and quickly updated. And, because the forecasts are always current, executive management and the board of directors have more confidence in the forecasts and a clearer understanding of the company’s financial position, so they can make more analytically informed decisions.
- Extended product development cycles
- Difficulty generating new forecasts to adjust funding allocations after shifts in project timelines
- Identify the impact of product market entry delays
- Forecasts are automatically updated whenever there are changes in project timelines
- Operational and financial data utilized together for more accurate scenario modeling of short and longer-term projections
- Faster reporting delivers operational results to executives and board members for analytical decision-making