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Summary
We all know the situation. The Pharma Industry is facing some very major challenges currently, and the reality is that we as an Industry should stop being identical and copying each other with the obvious strategies that are not working anymore (e.g. follow-on brands, new formulations, geographic expansion, mergers and acquisitions, Generic businesses, Pharmacy benefit management companies, disease management, etc).
We should really examine our unique competitive advantages and where we can add value in a big way to our stakeholders to sustain long term profitable growth. These obvious strategies work - or worked - in the beginning; however, in terms of a long term solution to the issues we are facing, they are not sustainable. We all know we have to do more with less, we have reduced cycle times, and we need to integrate technologies and systems into our businesses to cut costs and save time.
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