The pharmaceutical and life sciences industry is undergoing a period of profound transformation. Many analysts agree that the industry is moving from the era of the “blockbuster drug” to a new operating model known as personalised medicine. While achieving success in research and development continues to define those who will be the industry's winners and losers, other issues are increasingly demanding the attention of top management. They include navigating the challenges of global and local regulatory compliance, optimising the supply chain, achieving marketing excellence and effectively managing organisational complexity on a global scale. These issues along with increased scrutiny of the industry's business practices and difficult questions over the safety of marketed drugs have created substantial tensions between the industry and its stakeholders.
Pharmaceuticals challenges
- Successfully developing innovative drugs and enhancing Research & Developement productivity
- Reputation management
- Pricing pressures and shrinking margins
- Managing regulatory compliance
- Intellectual property protection
- Generic competition
- Sustaining growth in local and global markets
- Realising tangible value from strategic alliances, Joint Venture's and partnering arrangements
- Attracting and retaining a skilled workforce
- Controlling operating costs.
How PwC can help you
To profitably manage their businesses in this environment, manufacturers will need to consider a new model that embraces fundamental change to the organisational structure, operating practices and corporate culture that prevails in companies today. In the future, successful enterprises will be those that can efficiently adapt to new regulatory requirements, changing markets and develop and sell the next generation of breakthrough therapies while working to ensure that the hard-won bond of trust between the industry and its stakeholders remains strong.
Being the global leader serving pharmaceutical and life sciences companies, PricewaterhouseCoopers has extensive experience working with organisations across the industry, including: proprietary and generic drug manufacturers, specialty drug makers, medical device and diagnostics suppliers, biotechnology companies, wholesalers, pharmacy benefit managers, contract research organisations, and industry associations. We have aligned our practice with the broader health industries market to ensure that our people are well versed in the relationships between suppliers, providers, payers, and customers. We have made a deep commitment to understanding the forces that are impacting these sectors and developing and delivering solutions that help our clients' achieve their financial, operational and strategic objectives.
