A Better Way For BD And Commercial Teams To Evaluate Strategic Assets
By Shetal Vyas
In most life sciences companies, commercial teams are pulled into BD conversations, but often the depth of evaluation falls short of making real impact. By the time we’re asked to weigh in, key assumptions are already locked, valuations are inflated, and the deal is headed in a direction that’s tough to unwind. It’s a familiar pattern, and one that costs companies time, capital, and credibility.
The real opportunity lies in bringing commercial insight in earlier: before the story is written and the spreadsheets are built. When done right, early commercial assessments reshape how deals are evaluated and significantly increase the odds of long-term success.
Beyond The Model: Commercial Reality Vs. Strategic Assumptions
There’s a gap between how an asset performs in a forecast and how it performs in the market. Early commercial input helps close that gap by testing assumptions in the context of access, reimbursement, and provider behavior.
One example that stands out: we were evaluating a specialty product with pressure to expand into a primary care setting to drive scale. It looked logical on paper. But the commercial review revealed real friction points — administration required in-office procedures, specialized diagnostics, and active monitoring. Not only would this stretch the typical primary care infrastructure, but it would also slow uptake and strain the support model. We course-corrected before launch, kept the focus within specialty care, and ultimately avoided a failed expansion that would’ve been costly to unwind.
This is where commercial assessments add the most value — not by validating what’s already assumed, but by challenging it.
BD tends to focus on the strategic narrative and top-line potential. That’s their job. But what’s often missing is the operational feasibility — how the asset fits into the delivery system, how it’s going to be reimbursed, and whether the commercial infrastructure is actually built to support it.
Commercialization teams bring that lens. We understand the handoffs between market access, sales, and medical, and where the friction points exist. That early visibility de-risks the deal and forces alignment around what’s required to make it work post-transaction.
As a commercial executive, I've worked with BD teams more than a dozen times over the years, on a range of projects — from acquisitions, to licensing, to partnerships. Previously in my career, I was often brought in later in the deal-making process, and I experienced the limitations of that kind of arrangement. By contrast, in my current role, my team partners with our BD team from day one. We're evaluating all opportunities together, in lockstep, and I've seen firsthand that when deals are pursued this way, there is a higher likelihood that the true potential of the product/asset can be delivered in the commercial phase.
Better Focus In A Resource-Constrained Environment
Every organization is managing against finite resources, including capital, talent, and time. Commercial assessments create a filter, allowing teams to say “no” more often, and focus on the assets that are most viable and most aligned with where the business is headed.
Valuations that ignore commercialization costs — payer access, education lift, infrastructure needs — create expectations the launch can’t deliver. It’s not just about sizing the market; it’s about understanding what it will take to capture it.
This is where early commercial involvement is often undervalued. An asset might check all the boxes from a BD standpoint, but still create dilution or friction once it’s inside the portfolio. Commercial leaders are in a unique position to evaluate fit — not just with the market, but with the company’s growth strategy, operating model, and long-term trajectory.
That lens matters. Because when assets are evaluated in isolation, organizations end up investing in deals that pull them in too many directions. Alignment — internally and externally — is what drives sustainable value.
Getting Out Of The Silo
Cross-functional alignment isn’t always easy. BD, R&D, and commercial teams come at problems from different angles. But that doesn’t mean early collaboration is optional. It just means it needs structure — shared KPIs, common frameworks, and a willingness to challenge assumptions early in the process.
Larger companies often have commercial leads embedded in their BD teams. Smaller organizations can still access that same level of rigor, whether in-house or through partners. What’s important is that commercial isn’t an afterthought.
Commercial assessments surface risks, clarify value, and ensure that the assets we bring in are the ones we can actually scale. In today’s environment — where pipelines are tight and payer pressure is real — clarity on commercial viability must come early.
Because it’s not just about closing the deal. It’s about making sure it performs.
About The Author:
Shetal Vyas is SVP of Commercial Strategy and Development at the biotech company Ardelyx.