Developing differentiated pharma and life sciences products that meet patient needs
Pharmaceutical and life sciences companies are under intense pressure to introduce new products in an environment of escalating R&D costs, complex science, heightened regulatory scrutiny, and increased competition. The industry's traditional strategy of placing big bets on a few molecules, promoting them heavily and turning them into blockbusters worked well for shareholders for many years. However, productivity in the lab has decreased significantly, as companies have shifted their attention from diseases that are relatively common and easy to treat to those that are much more complex or unusual. Ultimately, pharmaceutical and device manufacturers must develop innovative products that offer increased benefits and value relative to existing therapies while streamlining their processes for efficiency.