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Delivering Growth through New Products in the Pharma industry
By Jerry Shanahan, partner at Oliver Wight
3 April 2017
In the Pharma industry, there is almost an acceptance that a high percentage of new products will not launch on time or at least not deliver the value they had intended to deliver, when first approved for development. There are so many variables in play as potential drugs work their way through the regulatory phases and approvals before they can be launched into a specific market. But while there are real issues and challenges to overcome, are Pharma companies just using the variables as excuses for poor planning and lack of accountability for flawless execution?
There are many examples of Pharma companies who have turned these “excuses” into “assumptions” about the future to help them plan and be more predictable by implementing the business management process, Integrated Business Planning.
I recently co-authored a white paper with my US colleague, Timm Reiher, where we go into much further detail on this topic. You can download it from our website here. The paper highlights how achieving true integration and alignment on new products is key to delivering predictable growth. This is something all companies strive for, including Pharma. In fact, for the Pharma industry, it is becoming more critical each year as more drugs come off patent and there are more incremental products are being launched, as opposed to the big blockbusters.
Is it time for the Pharma industry to stop making excuses and start taking control of delivering a predictable pipeline? My view is yes, because in doing so it could be the difference between success or failure.
Timm and I also presented a webinar on the topic which you can watch online here.
My colleagues and I are attending LogiPharma on 25th – 27th April in Switzerland; click here for more information on the event. If you’d like to chat more on the topic, feel free to drop by the stand!