Strategy is about making choices, trade-offs…
Big pharma has seen a significant change in the operating model and footprint over the past couple of decades influenced by multiple factors. The context in which the industry operates is dictated by the constantly evolving social, demographic, economic and political factors, which have major implications in the way the pharmaceutical and overall health care industry act.
It was the era of large and diversified companies with R&D footprints in multiple global hubs, and primary care businesses driving a large portion of revenues with minimal contribution from the emerging economies. Now we see lean, agile, focused companies with a research footprint within key innovation blockbusters and a growing revenue stream from specialty products and biologics and emerging markets.
The evolving market and the challenges being faced by the pharmaceutical industry has resulted in a significant shift in how the industry operates, encouraging the need for creative thinking and innovative solutions.
Today’s professionals and all companies should be well-appointed with all key trends that would impact and again transform the big pharma companies during the next 10 to 20 years. And the one million question that we need to answer is what will happen in the next 20 years and where our company will be during those days.
We need to rethink our strategies regularly to bring about flexibility and dynamism in our vision. Being fast and first is critical, in parallel this fast pace of the market. It is needed to adapt and capitalize on the opportunities that the dynamic, ever-changing market presents.
Today, success in the pharma industry requires a continuously up to date strategy through tailoring and successfully implemented business development activities…