The theme for the pharmaceutical and biotech industries in 2009 is change. With an unprecedented number of external factors at play—including the global economic crisis, a new administration, and the ever-evolving federal, state, and local regulatory environment—this industry will face change at an incredibly increasing pace over the next few years.
Companies with an agile and nimble approach to business will be in the best position to adapt and prosper in this environment. From strategic and organizational moves to process and technology decisions, pharmaceutical firms will need to make business decisions quickly and efficiently in order to turn threats into potential opportunities.
The good news is that the key to having an agile and nimble business doesn’t require looking further than a company’s own four walls. Time and time again, we’ve found our clients have all of the information they need to make smart business decisions, anticipate market demand, and move with market changes.
However, having access to the information is not enough. The firms that learn to unlock this information, drive decisions from the data—and make it work for them—are the ones that will reap the rewards. A consultancy with global teams, deep experience in the pharmaceutical industry, a level of understanding, and industry knowledge can stay lockstep with its clients. At the same time, it can provide services that not only support their clients’ existing needs but also can anticipate and handle the curves in the road.
Phil Garland is Senior Vice President of Global Life Sciences Practice, BearingPoint. He can be reached at email@example.com