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Stoffels had put Tibotec together as an integrated pharmaceutical group to devel- op the new drugs, but when the market crashed in 2002, he could no longer raise the money to fund the needed Phase 2b trials, so he and Pauwels began to look for a partner. By then, there were many can- didates, but they chose to go back home to Janssen and J&J; because, says Stoffels, "J&J; was prepared to leave us alone as a small company in the group, and we could continue to do our work." By the time Stoffels rejoined J&J;/Janssen, however, he had become as much a busi- nessman and lawyer as a scientist. "I trained myself, and was trained by law- yers, in contract negotiation and writ- ing. I sat in on acquisitions, worked with analysts, did the tour of analysts in New York, gave a hundred presentations in two weeks trying to go public — all of it part of growing up as a biotech CEO and chair- man." (Stoffels was chairman of Tibotec and CEO of Virco; Pauwels played the opposite roles at the two companies.) Once back in the J&J; fold, and after Stoffels saw the first two HIV drugs off to market, J&J;'s senior management asked him to take on more responsibility for a larger part of the R&D; group. Then, in 2009, he became head of the entire group in the position he now holds. As he puts it, "I applied all my capabilities learned during my lifetime in biotech and pharma, and I started working on the pharmaceu- tical R&D; company of the future." INTEGRATING CAPABILITIES: ONE JANSSEN FOR ALL The Janssen twin-chairman structure reflects the company's "unmet medical need and best science-first" strategy — looking for business opportunities where scientific understanding reveals them, as the best way to meet a major medi- cal need, to paraphrase Stoffels. He says his responsibility as CSO for all of R&D; gives him access to early science and technology, including the discoveries and developments of the alliances managed by the company's "external innovation" organization. That group is an "integrated team," operating globally, with regional headquarters in San Francisco, Boston, London, and Shanghai, "on the front line where the majority of company innova- tions happen." The external innovation group includes teams for running business development, legal, finance, IP, and all other capabilities needed to establish and maintain collab- orations with other companies. Stoffels also oversees the business development group responsible for accessing late-stage science and technology through licensing and acquisitions, the company's own ven- LIFESCIENCELEADER.COM MARCH 2014 25 0 3 1 4 _ F e a t u r e _ J J _ F . i n d d 4 0314_Feature_JJ_F.indd 4 2 / 1 9 / 2 0 1 4 2 : 2 4 : 4 6 P M 2/19/2014 2:24:46 PM