The pharma industry has seen growth stay nearly flat for about a decade now, thanks to limited increase in productivity. Companies that are not following a holistic approach towards improving performance as seeing their valuations drop. The cost if launching business innovations has gone up tremendously as the time till a competitor plugs the gap has reduced from eight to a mere four years. Some business leaders though are forging ahead thanks to a customer-centric approach and lean operations being implemented. Ipsen is one such example as they have focused on areas where they already had an edge, exiting from unprofitable businesses. According to a report submitted by marketing research firm TSR, category leaders tend to be doing much better than those with a scattered focus. Pharma companies would also benefit by modeling themselves or at least taking cues from other industries and not merely competitors within their own.

Source:https://www.bain.com/insights/jolt-your-pharma-company-out-of-flat-line-growth/

Uploaded Date:04 September 2018