Interviews by John Sutherland, MBA PLUS Life Sciences Candidate ’26

Roee Alper, Kelley PLUS Life Sciences MBA Candidate ’26

Roee Alper – Kelley MBA ’26

This summer, Roee completed an internship with Eli Lilly, working on the Precision Medicine and Commercial Non-Promotional teams. Their work helps advance how Lilly brings innovative therapies and diagnostic solutions to patients around the world.

During the internship, Roee led two high-impact projects:

• Roee helped shape Lilly’s 2026 commercial media strategy by building recommendations grounded in the PESO (Paid, Earned, Shared, Owned) framework to optimize cross-channel engagement.
• Roee designed measurable KPIs and developed a Power BI dashboard to help senior leadership better quantify and communicate the value delivered by the Commercial Non-Promotional organization.

Roee was drawn to the pharmaceutical industry because it sits at the intersection of business, innovation, and patient impact. Lilly’s commitment to reinvesting nearly 30% of its revenue into R&D, which is well above industry average, demonstrates that the company’s “patients first” mindset is more than a slogan. After three months at Lilly, he saw firsthand how deeply that philosophy shapes decisions across the organization.

One of the most eye-opening aspects of the experience was learning how many barriers to personalized care exist. Working closely with the Precision Medicine team, Roee discovered how diagnostic reporting, clinical workflows, and healthcare infrastructure can influence whether patients receive cutting-edge treatments. The internship highlighted that success in pharma requires mastering the entire value chain – from lab to patient.

The summer also offered a front-row seat to the rapid pace of innovation in the industry, and how “concepts that seemed like science fiction just a few years are becoming a reality today. Lilly’s partnership with NVIDIA in building an AI “factory,” demonstrated how quickly bold ideas are becoming reality, and how companies that embrace these technologies are shaping the future of medicine.

🎯 Two key takeaways from the experience:

1. An excitement to return to Lilly full-time and continue contributing to meaningful innovation.
2. A renewed appreciation the learning, community and personal growth that comes with the MBA journey.

Maggie Burns Kelley PLUS Life Sciences MBA Candidate ’26

Maggie Burns – Kelley MBA ’26

This summer, Maggie had the opportunity to intern with Insmed in San Diego, CA. She worked with the GTx Program Management team, where she supported Program 1201 and built a patient journey map for Duchenne Muscular Dystrophy (DMD). Her work focused on uncovering strategic leverage points to enhance patient outcomes and inform future launch readiness.

Having always been passionate about the life sciences industry, she decided to pivot from healthcare consulting into industry to gain hands-on experience. Insmed stood out to her for its focus on rare disease, patient-first mission, and engaged, transparent leadership team that she met during the interview process.

🎯 One key learning for her was the level of innovation required in market access. With multimillion-dollar therapies—especially those with limited long-term data—companies must develop novel access and pricing models to ensure both patient access and commercial viability. She was also struck by the regulatory focus on manufacturing readiness, as the FDA continues to issue Complete Response Letters (CRLs) tied to these concerns.

Maggie’s time at Insmed provided a deeper appreciation for the complexity, collaboration, and purpose behind advancing new therapies. It reinforced her desire to build a long-term career in the pharmaceutical industry, contributing to work that has a tangible impact on patients’ lives.

If she had to summarize her experience in two words: dynamic and impactful. Insmed is at a truly exciting point in its journey, with leadership deeply committed to transforming patient lives and developing future industry leaders.

Dylan Michel, Kelley Academy PLUS Life Sciences MBA Candidate ’26

 Dylan Michel – Kelley MBA ’26

This summer, Dylan interned with Johnson & Johnson MedTech as part of the Marketing Leadership Development Program (MLDP) on the Hips Global Growth Marketing Team. During the summer, he led two major projects. The first was a competitive analysis of a competitor product to J&J’s market-leading femoral stem, which culminated in a training guide and presentation deck for J&J’s 1,400-member salesforce. The second was the creation of a SharePoint website to streamline content development for Key Opinion Leaders collaborating with J&J.

Drawn to MedTech for its patient-first mission, he was particularly inspired by how J&J’s Credo guides decision-making across the organization. Having previously worked as a healthcare provider, he saw firsthand the challenges patients face and wanted to join a company that prioritizes patient outcomes, even when doing so requires difficult business tradeoffs.

One of his biggest lessons was gaining a deeper understanding of how complex and regulated MedTech marketing can be. Every claim must be supported by evidence, and J&J’s rigorous review process ensures compliance. He learned the importance of planning ahead for the clinical or lab data needed to substantiate marketing messages, a skill essential for success in the industry.

Dylan describes the internship as a “MedTech marketing bootcamp,” fast-paced, collaborative, and deeply educational. Interns are trusted to perform at the level of full-time marketers, quickly learning the product portfolio, regulatory environment, and cross-functional landscape.

🎯 His biggest takeaway? “As a MedTech marketer in a B2B environment, you have to stay close to your customers—surgeons, sales reps, and field teams. Building those relationships and getting into the field is essential for understanding what truly drives value.”

If he had to sum it up: hands-on, challenging, and rewarding. Johnson & Johnson MedTech is shaping the future of healthcare innovation, and he’s proud to have contributed to that mission.

Bobby Smieszny, Kelley PLUS Life Sciences MBA Candidate ’26

Bobby Smieszny – Kelley MBA ’26

This summer, Bobby interned with The Defeating Epilepsy Foundation, partnering directly with the Vice President of Marketing to shape the organization’s social media and marketing strategy.

Motivated by a desire to find deeper purpose in their work, Bobby was drawn to the pharmaceutical and MedTech space through personal experience, having seen firsthand how medical innovation can transform quality of life. At a small, mission-driven nonprofit, he had the opportunity to contribute work that directly impacted strategy and outreach.

During the summer, he completed research into medical device partnerships, specifically examining programs like Embrace Empatica’s patient cost assistance model. Through this experience, he saw how MedTech is increasingly entering the direct-to-consumer space and creating new possibilities for patient access.

Bobby’s internship experience also offered valuable perspective on the competitive nature of nonprofit healthcare, where organizations strive to differentiate their mission and attract donor support. This challenged him to refine strategic messaging and communicate the foundation’s unique value to the epilepsy community.

Reflecting on the summer, Bobby shared:

🎯 “The life sciences industry goes beyond pharma and med-tech. Patients need organizations that support them outside the doctor’s office — and I’m proud to have contributed to that mission.”

Muskan Uprety, MBA Candidate ’26

Muskan Uprety– Kelley MBA ’26

This summer, Muskan, a Kelley MBA candidate, interned with Eli Lilly and Company as a Finance Intern in the Late-Stage R&D group.

Drawn to the pharmaceutical industry’s rapid innovation and transformation, he explored how Lilly is adopting agile, tech-inspired approaches to drive breakthroughs in healthcare.

During the internship, he gained a deeper appreciation for the complexity of drug development, a process that can span 7–10 years and cost over $1B before the final medicine reaches patients. This experience highlighted how risk, pricing, and strategic decision-making shape the industry’s future.

🎯 Beyond technical skills, Muskan emphasized the importance of soft skills and collaboration:

“Doing a great job is table stakes. Standing out depends on the effort you put into understanding people and becoming a bridge between teams.”

Colin Zeh, Kelley Life Sciences PLUS MBA Candidate ’26

Colin Zeh – Kelley MBA ’26

This summer, Colin interned with Cook Medical, where he focused on portfolio management within the company’s MedTech business. His work provided hands-on experience in evaluating product portfolios, understanding market positioning, and identifying opportunities to optimize value across Cook’s offerings.

After serving in the U.S. Army, he knew he wanted to transition into a mission-driven industry that reflected his values of service, integrity, and teamwork. Cook Medical stood out for its commitment to improving patient outcomes and fostering a workplace culture rooted in respect and collaboration, values that deeply resonated with him.

During his internship, he gained a strong foundation in FDA regulations and learned the nuances of what can and cannot be marketed for certain medical devices. He also developed a firsthand understanding of sales operations in the MedTech space, seeing how marketing, regulatory, and sales functions align to deliver impact in the field.

One of his biggest insights came from seeing how Cook Medical’s products integrate into the hospital system, specifically from operating rooms to specialized care units, and how each product supports physicians and patients throughout the care continuum.

🎯 His key takeaway: “It’s the people, their passion, collaboration, and commitment, that make a great company run.”

👏 Congratulations to Roee, Maggie, Dylan, Bobby, Muskan, and Colin on their internships in the life sciences industry and best wishes as you pursue full time careers in the industry!

Are you potential student interested in pursuing a career in business side of life sciences or executive in the industry who would like to learn more about the skills Kelley PLUS Life Sciences students earn?  If so, check out Kelley’s Academy PLUS Life Sciences!

By Himadri Gogoi, MBA Candidate, Class of ’26

This spring, a team of first-year MBA students from the Kelley School of Business, led by George Telthorst , Director of the Center for the Business of Life Sciences and assisted by second-year graduate assistant, Rex Rumsey, partnered with the Indiana Clinical and Translational Sciences Institute (CTSI) on a strategic pricing project for its Clinical & Translational Support Laboratory (CTSL).

The CTSL plays a vital role in supporting academic researchers and industry clients by providing critical resources and services to accelerate translational research. To help ensure sustainable growth, the student team collaborated with Rob Orr and Dr. Jill Reiter to revise the CTSL’s existing fee structure and design a more accurate, data-driven pricing model.

Dividing into two subgroups, the students conducted:
🔹 A detailed cost and time analysis of materials, equipment, and services
🔹 A benchmarking study of pricing strategies across peer institutions nationwide

Over seven weeks, the team developed a comprehensive activity-based pricing model to better reflect the true costs of the CTSL’s offerings, ensuring both accurate cost recovery and long-term operational alignment.

The final deliverable was met with enthusiasm. In the words of Rob Orr: “This is a hugely useful tool we can use going into the future.”

We’re proud of the team’s excellent work and deeply grateful to Rob, Jill, and our Center for the Business of Life Sciences’ supporters George Telthorst and Rex Rumsey for their guidance throughout the project.

Student team:
John Sutherland | Roee Alper | Himadri Gogoi | Shreya Bandyopadhyay | Fung Lau | RadhaHarish Bezawada | Varun Soni | Deniko Montgomery

Pictured with student awardees are IU Life Sciences Day guest speakers- Bernard Zovighian (Edwards Lifesciences), Mark Nicholson (Medline), Brad Robling (Lilly Ventures) and Blayne Roeder (Cook Medical). Along with Sarah Huoh (Edwards Lifesciences) and George Telthorst and Kelli Conder of CBLS

The Center for the Business of Life Sciences offers a Certificate in the Business of Life Sciences available to undergraduate and graduate students from the Kelley School of Business students as well as the College of Arts & Sciences, O’Neill School of Public and Environmental Affairs and School of Public Health who are seeking careers in the life sciences industry. This highly selective program combines 3 credit hours of life sciences course work with an array of special opportunities to interact with top leaders in the field of life sciences. Participants completing course work and extracurricular requirements receive a Certificate in the Business of Life Sciences from CBLS.

Congratulations to the students who completed the requirements to earn the Certificate in the Business of Life Sciences, we wish you all the best on becoming the next leaders in the life sciences industry!

By Aishwarya Sahoo, MBA Candidate Class of ’25

As artificial intelligence (AI) continues to reshape industries worldwide, its impact on healthcare is poised to be nothing short of transformative. On May 2, 2025, the Center for the Business of Life Sciences (CBLS) at the Kelley School of Business hosted its annual Indiana Life Sciences Collaboration Conference. In past years, the series has explored topics ranging from telehealth to the opioid crisis. This year, the focus turned to one of the most powerful forces of our time: artificial intelligence and its expanding role in healthcare. The forum brought together an influential group of leaders from diagnostics, hospital systems, tech giants, startups, and academia to explore how AI can drive smarter, faster, and more equitable care.

Rod Tarrago, MD, Chief Medical Information Officer of Health Data, AI, and Pediatrics, Amazon Web Services

Opening Keynote – Building Trust in AI: Lessons from the Tech and Clinical World

The day began with a keynote from Dr. Rod Tarrago, Chief Medical Information Officer of Health Data, AI, and Pediatrics at Amazon Web Services. A dual-trained clinician and technologist, Dr. Tarrago made a compelling case that trust—not technology—is the most urgent barrier to AI adoption in healthcare. While the industry has more data than ever before, he argued, clinicians don’t necessarily want more of it—they want better data, designed with their workflows and outcomes in mind. Drawing on his clinical experience, he pointed to the cognitive overload many physicians face: a critical care doctor processes over 50,000 data points per patient. Yet, data silos, manual entry, and incompatible systems often undermine the quality and usability of that information. At AWS, his team is focused on addressing this challenge by making data cleaner, more contextual, and more actionable. He emphasized that despite the high spending, the U.S. healthcare system lags behind peer countries in both quality of care and patient outcomes—with one in four hospitalized adults experiencing an adverse event.

Dr. Tarrago also highlighted AWS’s “working backwards” approach, where AI is applied only after clearly identifying the problem to be solved. He shared a powerful example involving pediatric medication errors, which affect up to half of hospitalized children. By partnering with hospitals, AWS is exploring new ways to reduce duplication and improve the safety and accuracy of medication delivery. Throughout his talk, he returned to a central theme: healthcare and tech move at different speeds and speak different languages. For AI to succeed in this space, healthcare must be willing to move faster and take strategic risks, while tech must commit to making solutions simpler, repeatable, and affordable. He left the audience with a reminder that resonates deeply in this moment of rapid change: “The AI you use today is the most outdated AI you’ll ever use.”

Rod Tarrago, MD, Chief Medical Information Officer of Health Data, AI, and Pediatrics, Amazon Web Services presents to conference attendees.

Panel Discussion – CTRL + ALT + HEAL: AI’s Impact on Medicine

Dr. Tarrago’s call to embrace innovation with care set the stage for a panel discussion moderated by Dr. Shaun Grannis of the Regenstrief Institute. The panel brought together diverse perspectives from across the healthcare ecosystem, including diagnostics, community care, laboratory science, and venture-backed AI platforms.

Matt Manley, Vice President of Digital Healthcare Solutions at Roche Diagnostics, opened with a focus on clinical accuracy and the role of predictive models in early detection. He introduced Roche’s work on LGI Flag, an AI algorithm built on standard blood test data that helps identify patients at higher risk for colorectal cancer—a disease that remains the second leading cause of cancer deaths in the U.S. Yet only about 35 percent of cases are diagnosed early, often due to low screening rates. By recognizing subtle, longitudinal changes in complete blood counts, this algorithm can support clinicians in catching the disease earlier—often before symptoms arise. Manley also discussed Roche’s Sepsis ImmunoScore, an FDA-approved tool that uses over 20 parameters, including biomarkers like PCT and CRP, to assess a patient’s risk of developing sepsis. Given that sepsis is the third leading cause of death in U.S. hospitals, early prediction and intervention are critical. These tools demonstrate how AI can enhance—not replace—clinical decision-making by equipping frontline workers with clearer, more timely insights.

Bradley Bostic, founder and CEO of hc1, followed with a compelling case for shifting from reactive to proactive care. His company uses AI to analyze lab, prescription, and biometric data to predict health risks and tailor interventions. He described AI as “the most powerful cloning machine for the human mind,” capable of replicating expert-level thinking at scale. From preventing medication errors in elderly patients to creating individualized care plans, hc1’s platforms—such as DecisionRx and 3Aware—strive to make care more predictive and personalized.

From the community health system perspective, Dr. Patrick McGill, Chief Transformation Officer at Community Health Network, shared how AI is being used to improve access, streamline administrative burdens, and enhance patient experience. In partnership with organizations like Microsoft and Qualtrics, Community Health Network is deploying AI-driven tools in appointment scheduling, home care management, and clinical documentation through ambient listening. McGill stressed that AI is not a strategy in itself—it is a tool to enable better strategies. He emphasized, “People take care of people,” underscoring that technology should support, not supplant, the human element in care.

Right to Left: Matt Manley, Vice President of Digital Healthcare Solutions, Roche Diagnostics; Bradley Bostic, Founder, Chairman & CEO, hc1 & Managing Director, Health Cloud Capital; Patrick McGill, EVP & Chief Transformation Officer, Community Health Network; Lucas Rifkin, MD, Senior Director, Medical & Scientific Affairs Laboratory Director, Central Lab Services-Indianapolis, Labcorp

Dr. Lucas Rifkin of Labcorp centered his remarks on operational efficiency, particularly in lab testing and digital pathology. As someone overseeing thousands of samples daily, he underscored the need to align AI with process improvement goals where speed and accuracy directly influence patient outcomes. He also emphasized that successful integration requires upskilling the healthcare workforce—reminding us that AI transformation is as much cultural as it is technical.

As the panel wrapped up, the conversation turned toward the future. Panelists shared bold predictions, including robotic augmentation of care delivery, AI copilots for clinicians, and population-level disease forecasting. There was unanimous agreement that AI literacy will soon become a baseline requirement in healthcare. At the same time, the speakers acknowledged real risks—such as overreliance on AI, erosion of clinical judgment, and the potential for algorithmic bias. Despite these concerns, the event closed on an optimistic note. From accelerating diagnosis to transforming how care is delivered and coordinated, AI holds enormous potential to reshape healthcare from the ground up. The path forward will require cross-sector collaboration among providers, policymakers, technologists, and educators.

As Dr. Rod Tarrago powerfully concluded,
“AI won’t replace clinicians—but the clinicians who use AI will shape the future of healthcare.”
The time to act isn’t someday—it’s now.

Attendees at 5.2.25 AI and Healthcare Conference hosted by the Kelley Center for the Business of Life Sciences

Written by Rex Rumsey, MBA Candidate Class of ’25

At Kelley, we had the opportunity to hear directly from industry leaders about M&A strategy in the life sciences sector. Bernard Zovighian, CEO of Edwards Lifesciences, joined Mark Nicholson, Brad Robling, and Blayne Roeder—corporate development leaders from across the industry—to share how their organizations approach capital allocation, innovation, and risk.

A common theme across all firms was how growth opportunity, risk tolerance, and execution speed shape decisions around whether to invest in internal R&D or pursue external opportunities. These choices are closely tied to each company’s capabilities, strategic priorities, and stakeholder expectations.

Keynote- Bernard Zovighian, CEO of Edwards Lifesciences

Bernard opened the event with a compelling keynote, emphasizing that Edwards’ credo—to provide innovative solutions for people fighting cardiovascular disease—is deeply embedded in the company’s DNA. As a growth-oriented firm with a patient-focused innovation strategy, Edwards takes a differentiated approach to M&A by looking for complementary investments in pre-revenue companies with significant upside potential and then iteratively developing those technologies over time. With thousands of engineers, the company stays focused on addressing the unmet needs of patients with structural heart disease through this combination of early-stage external investments and significant internal investments. The company allocates a higher percentage of revenue to R&D and focuses with a long-term view on creating entirely new markets, with transcatheter aortic valve replacement (TAVR) standing out as a flagship example.

Panelist- Blayne Roeder, Senior Director of Corporate Development, Cook Medical

In the panel discussion that followed, Brad shared that Lilly, while open to a variety of partnering and acquisition strategies, is especially keen to pursue licensing agreements and minority equity investments. Lilly Ventures places multiple, lower-stakes bets on early-stage biotech firms that may eventually progress into its pipeline as the science matures, and deal terms evolve—striking a balance between autonomy and strategic guidance. Mark explained how Medline’s operating model supports both top-down and bottom-up value-driven approaches to M&A. Rather than acquiring for convenience or defaulting to a single transaction type, in his role, Mark looks for opportunities that can create new value and provide access to synergies. Blayne highlighted Cook Medical’s disciplined, portfolio-complementary strategy, focusing on acquisitions that fill specific capability gaps and align with its core strengths—while intentionally passing on opportunities that fall outside its strategic scope.

Panelist- Mark Nicholson, Head of Corporate Development, Medline

As the panelists emphasized, balancing risk and reward takes many forms—whether through creative deal structures, placing multiple bets in search of breakout success, or having the discipline to walk away when the fit isn’t right. Throughout the discussion, a consistent message stood out: effective corporate development requires strategic clarity, internal alignment, and strong teams capable of stress-testing ideas to improve decision-making.

Panelist- Brad Robling, Vice President and Global Head of Lilly Ventures

A heartfelt thank you to our incredible speakers, and to George, Kelli, and Sarah Huoh—for organizing what was my favorite life sciences discussion during my time at Kelley. The insights shared, paired with grounded, experience-driven conversations with industry professionals, offered invaluable perspectives that will shape how my peers and I think about growth opportunities in the years ahead.

Student Network with Edwards Lifesciences CEO, Bernard Zovighian

Students network with Blayne Roeder, Senior Director of Corporate Development at Cook Medical

Students networking with Brad Robling, Vice President and Global Head of Lilly Ventures

Students network with Mark Nicholson, Head of Corporate Development at Medline

Summary by Rex Rumsey, MBA Candidate Class of ’25

Last week, the Center for the Business of Life Sciences at the Kelley School hosted over 120 passionate IU students (graduate & undergraduate business, science and healthcare majors) who gathered to engage with leaders from local life science companies in partnership with the Bloomington Economic Development Corporation. The event provided students with a unique opportunity to connect with industry pioneers from Boston Scientific, Novo Nordisk, Simtra BioPharma Solutions, and Cook Medical. More than just an introduction to local companies, the evening fostered genuine connections between students and professionals eager to mentor and share their journeys.

Foreground- Graduate and undergraduate business, biotech, healthcare management and computer science students; background- representatives from The Bloomington Economic Development Corporation, Boston Scientific, Cook Medical, Novo Nordisk and Simtra BioPharma Solutions

The Power of Connection: Cook Medical’s Philosophy

A quote from Pete Yonkman, President of Cook Medical, set the tone for the evening with a powerful message that resonated deeply with attendees. He stated: “We get our hands dirty. We get down in the trenches. We listen, get involved, get our employees involved, and work with other organizations. It’s that deeper connection that companies must develop in their communities.”

This commitment to engagement is deeply embedded in Indiana’s business culture, one that forms hardworking students determined to stay “hungry and humble.” A particularly compelling example of this is found in the story of William Cook, Cook Medical’s founder. Rich Florey, an HR manager at Cook Medical, shared the company’s remarkable origin story. William Cook didn’t begin his journey as a wealthy investor or an executive with a vast network—he was an engineer with a vision, starting his company in the basement of his Bloomington apartment.

Cook balanced his commitment to revolutionizing minimally invasive medical procedures with raising a family, working tirelessly to design and manufacture medical devices that would change patient care forever. His mission wasn’t just about building a company or designing abstract devices; it was all about working hand in hand with pioneers like Dr. Charles Dotter to create better, safer, and less invasive ways to intervene.

Patrick Adams, Site Director at Simtra BioPharma Solutions & Kelley School of Business Alumnus.

Simtra BioPharma Solutions: A Culture of Resilience and Action

Later in the evening, Patrick Adams of Simtra BioPharma Solutions brought a dynamic perspective on organizational culture. Describing Simtra’s ethos, Adams emphasized their “run towards work” mentality—a philosophy rooted in proactivity, problem-solving, and resilience.

At Simtra, employees are encouraged to embrace challenges head-on, fostering a culture where obstacles become opportunities. Adams detailed how this mindset not only improves business outcomes but also enhances employee satisfaction and growth. A glowing testament to their work culture was the fact that no less than 11 employees showed up to this event, from regulatory affairs to HR professionals, excited to share their journeys with students.

Adams illustrated how Simtra’s operations in Contract Manufacturing (CMO) provide a wealth of opportunities for students interested in pharmaceutical development, manufacturing, and quality assurance. With the growing demand for safe, high-quality injectable therapeutics, Simtra continues to expand its capabilities, making it an exciting career prospect for IU students.

Visionary Leadership at Boston Scientific

The evening also featured insights from John Hauser and his team at Boston Scientific, who reflected on CEO Mike Mahoney’s bold leadership. Mahoney has driven Boston Scientific toward becoming one of the most differentiated large-cap Medtech companies in the industry, emphasizing continuous innovation, operational excellence, and an unwavering commitment to improving patient outcomes.

A key highlight of the discussion was the company’s market leadership in cardiac care, particularly through their newer devices, Watchman and Farapulse. Watchman, a left atrial appendage closure device, offers stroke prevention for atrial fibrillation patients, reducing reliance on long-term anticoagulants. Farapulse, a pulsed field ablation system, represents a breakthrough in minimally invasive cardiac ablation, providing a safer and more efficient treatment for atrial fibrillation.

As Boston Scientific expands its footprint in structural heart interventions, its growth trajectory and commitment to research and development remain strong, offering exciting career opportunities for students interested in business strategy and the development of these indispensable products. The energy around the Boston Scientific table was tangible, as students eagerly connected with selfless Boston Scientific professionals who inspired them through their dedication to BSC’s mission of transforming lives through innovative medical solutions.

Representatives from Boston Scientific

Stories of Origins: Novo Nordisk and the Global Impact of Insulin

Lastly, Sophia Percival shared the fascinating origin story of Novo Nordisk, a company whose history, similar to Eli Lilly, is rooted in an extraordinary scientific breakthrough: the discovery of insulin.

In the early 1920s, Canadian researchers Frederick Banting and Charles Best made history by extracting and purifying insulin, a hormone that would transform the treatment of diabetes. Their discovery saved countless lives, but it was the collaboration between Danish entrepreneurs and Canadian scientists that turned this medical milestone into a globally scalable solution.

Novo Nordisk’s founders, August and Marie Krogh, recognized the potential of insulin beyond academic research. They secured the rights to manufacture insulin in Denmark, and from there, Novo Nordisk grew into one of the world’s leading pharmaceutical companies, specializing in diabetes care and chronic disease management. Their story is a powerful reminder of how scientific innovation, when paired with visionary leadership and strategic partnerships, can change the course of global health. It also serves as an important lesson for Kelley students to actively collaborate with peers in doctoral programs and research initiatives, where the fusion of business acumen and scientific expertise can drive transformative impact.

Sophia Percival, Operations Director at Novo Nordisk presented the company’s history and work they are doing in Bloomington.

VIEW PDF of PRESENTATIONS

A Night of Inspiration and Gratitude

The evening concluded with over an hour of networking and table discussions, where the strong relationship between Kelley and these companies became even more evident. This connection was highlighted by the fact that many employees end up becoming Kelley’s, and many Kelley students go on to become employees at these organizations. For example, Emily Cwyk, a 2023 MBA graduate, returned to her alma mater on Wednesday evening to share her experience with Cook Medical. She had this to say about the event:

“I really enjoyed being able to share my experiences at Cook Medical with those sitting in the same seats that I sat in 2 years ago.  So many people helped expand my horizons when I was in the process of switching careers. It is really rewarding to now be able to give back by helping current students understand all of the possibilities at their fingertips.

As a full time resident, I attend more of the many events Bloomington has to offer.  I enjoy the variety of performers, numerous parks & trails, and even picked up a new hobby of climbing at Hoosier Heights!  Whether it’s meeting people while climbing, chatting with store owners, or getting to know the vendors at the farmers markets, it has been easy to find ways to become a part of Bloomington’s unique community! Being from the Philadelphia area, I was wary to leave my family and community, but I have quickly built a comfortable life here in Bloomington. Cook Medical as a company and my team see the importance of having a life outside of work. I feel that I’ve been able to settle into the Bloomington due to the organization’s philosophy of working hard during the day but taking part in activities in the community whenever possible.“

– Emily Cwyk, Critical Care Associate Product Manager Cook Medical

Thank you to Jennifer Pearl and Clark Greiner of the Bloomington Economic Development Corporation and the Business Center for Life Sciences, led by George Telthorst and Kelli Conder, for organizing such an impactful event. These two groups consistently go above and beyond to ensure our communities are filled with difference-makers who are always seeking ways to add value both inside and outside the workplace.

Students networking with company representatives.

_____________________

About the Kelley Certificate in the Business of Life Sciences Program

Undergraduate students and graduate students, Kelley School of Business from across campus—who are passionate about a career in the life sciences and a desire for an understanding of how business and science interact to produce health-related outcomes are eligible to apply to be a Life Sciences Student Associate and earn the Certificate in the Business of Life Sciences offered by the Kelley Center for the Business of Life Sciences. The program is open to undergraduate or graduate associates in business, science, and healthcare majors. Below are some of the benefits to being in the Life Sciences Student Associates Program.

• unique opportunities to interact with leaders in the industry and with students and perspectives from many other disciplines
• coursework designed for deeper understanding of the business of life sciences companies
• networking receptions with industry and academic experts
• free admission to Indiana Life Sciences Collaboration Conference Series
• involvement with multidisciplinary case studies and consulting projects 

Learn more and how to apply by going to the CBLS website.

Each fall the Kelley School’s Center for the Business of Life Sciences coordinates the X419 and X519 Life Sciences Industry from Research to Patient course for undergraduate and graduate business and science students.  The course is taught by the CBLS Director, George Telthorst. The course includes over twenty guest lecturers from the industry as well as a semester long project.  The course introduces students to all the parts of the industry along with their opportunities and challenges: basic science, medical devices, pharmaceuticals/ generics/biotech, health care providers, insurers, supporting products and services, etc. The business of life sciences is more successful when those involved in the industry recognize and understand the value added at each stage.

This fall’s course was sponsored by IU Innovates, IU Ventures and the IU Innovation and Commercialization Office (ICO) and Kelley alumnus John Voris.

Each fall the project is focused on a life sciences start-up from the IU School of Medicine. The expectation is that teams will develop a reasonable best case-proposed innovative solution and implementation strategy for a market problem. They must first identify the attractiveness and make appropriate recommendations of a commercial opportunity from a best-case scenario prior to committing valuable limited resources to further development. Teams make reasonable assumptions related to the necessary commercialization steps to generate their best-case scenarios. Unreasonable assumptions are challenged during the Q&A period of the oral presentations. Teams must be prepared to justify their assumptions.

The goal is for the teams to gain:

• An understanding of the life science industry.
• The ability to identify and formulate effective commercialization strategies.
• Effective team management skills while working in an interdisciplinary team.
• Effectively express their ideas both in written form and visual presentation.

Relate XR Logo

This semester students comprised of business and science students worked on a project with Relate XR,  a digital therapeutics startup leveraging virtual reality (VR) technology to address substance use disorders (SUDs). Founded in 2021, and a spin-out of research conducted at Indiana University School of Medicine, Relate XR has developed a novel VR intervention that shows promising results in treating addiction and preventing relapse.  Dr. Brandon Oberlin from the Psychiatry Department at the IU School of Medicine and Andrew Nelson, a pioneer in extended reality technologies, are the co-founders. Izzy Branam, a young software entrepreneur, is leading the company’s commercialization and go-to-market strategy.  The company’s intellectual property is owned by Indiana University and exclusively licensed to Relate XR. The technology has a pending patent to protect the IP.

Students had to submit a strategic plan and milestone report part way through the semester.  In addition, the graduate teams had to submit a financial analysis. For the final, students had to provide an overview of the market, compare/contrast the company’s approach with other ideas and provide a value proposition for stakeholders and an overview of a commercialization plan and its rationale. Teams were to recommend any additional uses for the technology.  Graduate teams provided financial strategies for anticipated financial returns.

“It was inspiring to see the thoughtful presentations and professionalism of both the graduate and undergraduate Kelly students. Their insights gave the Relate XR team new creative ideas to consider. Congratulations on a job well done. I believe we will see business success stories emerge from this cohort of students!”

– Dr. Brandon Oberlin, Chief Scientific Officer, Relate XR, Assistant Professor, Department of Psychiatry, Indiana University School of Medicine

Winning Graduate Team- Winning Graduate Team Christian Brooks, Paige Davis, Jose Pedro Heerdink-Santos, Ramzan Miah, Rex Rumsey, and Xiaofei Song

2nd Place Graduate Team- Chingiz Bakayev, Cecelia Gonzales Hernandez, Rohit Maharaj, Alex Sanchez, Maddy Spencer and Simon Stretz

Winning Undergraduate Team- Ayushi Chudgar, Mary Denny, Eric Howell, Pamela Vega, Aidan Ye, Jay Zheng

“Of the 50 million individuals struggling with substance use disorder (SUD), only 10% seek rehabilitation, and for the 70% who do pursue services, it often takes multiple attempts before achieving recovery. Working with Relate XR was especially rewarding because their product empowers individuals to envision and choose a better version of their future selves.

Our team developed three models based on Relate XR’s recent clinical trial, which demonstrated an impressive 86% abstinence rate. The results highlight how Relate XR can save payers and states billions of dollars by facilitating faster recovery, preventing the development of costly health complications associated with prolonged addiction, and enabling individuals to remain productive members of their communities. Our team was amazed that this cutting-edge technology could redefine recovery and give millions the opportunity to rewrite their stories.”

-Rex Rumsey, MBA Candidate, Class of ‘25

The course was very diverse, not just because of the different graduate and undergraduate majors but also because of the ideas that came from everyone. Because of everyone’s diverse backgrounds and curiosity, my favorite part of the course was the quality of the questions you heard from classmates. My favorite part about the project was helping a start-up company prepare for commercialization and presenting our team’s recommendation at the end of the course. 

-Jay Zheng, Bachelors of Science in Biotechnology & Liberal Arts Management Program (LAMP) Candidate, Class of ’25

Judges- George Telthorst, CBLS; Doug Baker, Labcorp; Leslie Snyder, IU Health; Brandon Oberlin, Relate XR; Andrew Nelson, Relate XR; Izzy Branam, Relate XR; and Julie Heath, IU Commercialization Office

Thank you to the Relate XR Team; Brandon Oberlin, Andrew Nelson and Izzy Branam for working with the students! Additional thanks to all the guest lectures during the six weeks of class.  A summary can be found on the CBLS blog from each week.  We appreciate CBLS Industry Advisory Board Members Doug Baker of Labcorp and Leslie Snyder of IU Health for joining professor George Telthorst and the Relate XR team in evaluating the student’s presentations!

Learn more about the Kelley MBA Academy PLUS Life Sciences and Graduate & Undergraduate Life Sciences Associates program- https://kelley.iu.edu/faculty-research/centers-institutes/business-of-life-sciences/students/index.html

Panel Moderator- David Reitzel, Crowe LLP and Panelists Conor Aberle, Eli Lilly; Tim Dube, Pharmaceutical Care Management Association; Haizhen Lin, Kelley School of Business; Ann Roy, Boston Scientific

Breaking Bottlenecks: Consumerism and Collaboration in Healthcare 🩺💻

Summary by Rex Rumsey, MBA Candidate, Class of ’25

What if the future of healthcare were reimagined? At the recent IU Kelley School of Business’ Indiana Life Sciences Collaboration focused on Healthcare, a dynamic keynote by Jay Bhatt of  Deloitte followed by panelists– Conor Aberle, Eli Lilly and Company; Ann Roy, Boston Scientific, David Reitzel, Crowe; Tim Dube, Pharmacy Care Management Association and Haizhen Lin, IU Kelley School of Business joined industry professionals, startups, and thought leaders for an engaging discussion.

Keynote by Jay Bhatt, Deloitte

The message was clear: Consumerism and technology are reshaping healthcare. With $550 billion already spent on nontraditional healthcare products, people are moving from passive patients to empowered partners in the center of their care. The Deloitte Center for Health Solutions recently published its 2025 Insights for the life sciences and healthcare industries which goes into more detail about these shifts.

However, significant bottlenecks remain—reimbursement challenges, trust issues, and regulatory hurdles are among the most pressing. The U.S. payer system is particularly complex, categorizing 70% of individuals as either commercially insured (those under 65 and employed) or Medicare beneficiaries (65+). Misaligned risks and rewards between the two systems make it difficult for payers to justify upfront investments in wellness and preventive care.

Why? On average, individuals switch jobs and insurance plans every three years, long before the long-term benefits of early intervention are realized. Moreover, the costs of managing chronic diseases often shift to entirely different payers later in life. These types of reimbursement models and limited access to integrated data make ROI calculations for early, preventative treatments less feasible, slowing the move towards a platform-based business model.

Despite these challenges, consumer-driven models are developing. Disruptors like BetterHelp, Mark Cuban Cost Plus Drug Company, PBC, Amazon, and Lilly Direct are shaking up traditional gatekeeping and distribution channels, offering patients easier access to affordable medications and services.

Yet, this shift raises critical questions:

▪️ How do we balance affordability, safety, and efficacy in a consumer-centric system?

▪️Can healthcare companies build trust and responsibly use patient data to enhance care?

▪️Are we willing to reduce the regulatory burden on corporations to improve the customer experience, knowing it might come with greater risk and fewer protections?

The conference highlighted the need to understand why systems exist, how they function, and the value they provide before redesigning them. Manufacturers must innovate, managed care models should reduce excessive costs, and PBMs play a vital role in ensuring consistency and cost-effectiveness of drugs.

Collaboration among these groups is critical to creating a healthcare system that prioritizes transparency, consumer preference, and a balanced approach to trust and risk, all while keeping patients at the forefront in a new, modernized way.

Future Healthcare Leaders! Indiana University graduate and undergraduate students gain insights from industry executives at the conference.

A special thanks to series event supporters: Barnes & Thornburg LLP, Elevance Health, Labcorp, and Eli Lilly as well as Primary event supporters Boston Scientific, Deloitte, and Ice Miller LLP for collaborating with the Kelley Center for the Business of Life Sciences.

The Center for the Business of Life Sciences at the Kelley School of Business will be coordinating two more conferences this academic year.

The February 28 event is a one-day research conference that brings together life sciences related research faculty, industry leaders, and healthcare regulators to stimulate important new research questions and collaborations as well as share the latest in data-driven life sciences acahttps://www.labcorp.com/demic research. Content will include several academic research paper presentations along with keynote addresses from academia, regulatory affairs, and industry. This conference will help foster collaborative connections between companies, regulators and business researchers.

Learn More & Register

On May 2nd, Cook Medical will host the Healthcare and AI event focused on professionals in the life sciences industry. During this event stakeholders will discuss and debate potential impacts of artificial intelligence on healthcare, which is just beginning to be envisioned. Among those “leading the charge” are several Indiana firms, universities, and healthcare providers. These may take the form of potential new drugs, new devices and procedures, or new treatment approaches and regimens.  This conference will provide an update as to the latest with this emerging technology.

Learn More & Register