According to a press release on the school website, students from the Johns Hopkins Carey Business School took home the $6,000 first prize at the 4th Annual Biopharmaceutical Case Competition.
Teams were made up of three to five students MBA and Healthcare Management programs representing top business schools such as the Wharton School of Business, MIT Sloan School of Management and Yale School of Management.
The competition asked teams to develop a business plan addressing a real-world pharmaceutical industry challenge, in this case a biosimilar defense strategy for Humira, a prescription drug used to treat arthritis, ankylosing spondylitis, Crohn disease or similar problems.
The Carey team was made up of Global MBA students Austin Bonnar, Michael Brown, Ryan Ross and Brent Schneider. The team’s strategy consisted of two phases that focused on aligning with Humira’s value drivers.
“We quickly learned that there was no one silver bullet, so as a team we quickly decided that the best approach was to create a strategy with multiple dimensions,” Brown said.
Schneider, who won an individual $500 prize for best presenter, said the team impressed the judges with their knowledge and teamwork.
Carey students have taken part in two other notable competitions this month: the Carey-hosted 3rd Annual Healthcare Business Competition sponsored by Pfizer, and the internal Venture Capital Investment Competition.