Advertising and promotion of prescription drugs, including direct-to-consumer, direct-to-patient, and professional marketing.
November 3, 2007
THE BEST CONSULTING has a point of view. We don't earn our money if we don't come to the table having listened to the data with that point of view.
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November 3, 2007
UNTIL RECENTLY the pharmaceutical industry regularly outperformed the S&P 500. So, historically, one could argue that pharmaceutical companies have been well managed. In the past few years, however, that trend has reversed, with the S&P 500 regularly outperforming the pharmaceutical industry. One has to wonder if the industry as a whole is as nimble and efficient as it needs to be to deal with the challenges and opportunities presented by the increasingly rapid rate of change within the marketplace.
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November 3, 2007
THE REAL CASE for consultants is that they bring capabilities that allow organizations to implement sustainable change in their businesses; and that without outside assistance, these organizations wouldn't realize strategic, operational, or regulatory objectives. Often, it makes sense to use outside consultants when
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November 3, 2007
NEW CHALLENGES, such as the best way to measure the performance of products under Medicare Part D, are often best solved through incremental improvement. Consultants who work the same problem in four or five companies simultaneously will have the ability to complete more "cycles" than a particular client organization. My belief is that consultants can take on these issues faster, better, and cheaper than any single pharmaceutical company.
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November 3, 2007
CONSULTANTS MUST POSSESS both domain knowledge and information technology knowledge. It is most important that pharma consultants truly understand the business model and the unique challenges of the industry. The consultant also must be expert in the application and technologies that are generally found in the pharmaceutical industry.
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November 3, 2007
WHILE PHARMACEUTICAL MANAGEMENT consultants are expected to excel as general management consultants, they should master the intricate complexities of their industry to be in a position that adds value to the client's mission.
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November 3, 2007
BEWARE THE STAKEHOLDERS Today's biggest threats to pharmaceutical companies come from their own stakeholders: consumers, payers, regulators, politicians, governments, the media, and others. Companies often fail to expect these threats and must react to them with little time and preparation.
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November 3, 2007
THE REAL TEST FOR PHARMA will come in next few years, as many promising sales model innovations are being rolled out on a large scale. Will these changes take hold and be ultimately perceived as successful? Will the sales culture evolve to match the new business model? Will the public image of pharmaceutical companies improve as a result of these innovations?
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November 3, 2007
MANUFACTURING STRATEGY has taken on new urgency, with offshoring becoming the latest and greatest trend. Far too many pharma companies are simply playing follow the leader instead of assessing the long-term implications of offshoring for their company, their products, or their nation. Alternatives, which include operational improvements and the adoption of new ways of controlling processes, improving efficiency and maximizing quality, are viable options.
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