Making strategic sense of pharma ’s new race for competitive advantage 

Cheaper, faster R&D matters hugely of course, but it is increasingly the case that commercial success will only follow if pharma can also deliver for patients and health systems.  Patients are increasingly active participants in their own care. They are becoming intolerant of high-friction, low-quality provision of care. Resource constrained health systems, meanwhile, urgently require partners able to help them do more with less.  Advantage in the life sciences, then, will increasingly go to those that can develop new products, services and digital ecosystems to make the most of this new competitive landscape.  When it comes to enterprise business strategy, that ’s a lot to consider. How best to approach the process of addressing all this? Dividing the transformation challenge into three categories - product, company and market - is a start.  Shape the product The boundaries of therapeutic products are growing fuzzier. A medication or device is no longer the end of a healthcare intervention. The experience that surrounds it matters more than ever.  Delivering good outcomes should therefore no longer be just a purely ‘top-down’ R&D process. There is a growing recognition that for pharmaceuticals to be optimally effective, the patient and the care landscape need to be considered. “The pill is the necessary part of the solution but no longer sufficient. Patients and Healthcare providers want holistic solutions for economic value and convenience.  Hence, sh...
Source: EyeForPharma - Category: Pharmaceuticals Authors: Source Type: news