The industry is moving away from blockbusters, and is increasingly focusing on new niche products. It is becoming crucial for companies to think carefully about their current portfolio and optimize its management. This includes having the right organization, tracking and measures of performance.
Further, the traditional sales model is not working optimally anymore, and physicians are becoming saturated with non-productive sales visits. New sales models are being devised and implemented in many companies. As companies differentiate from each other, their sales approach will have to differentiate as well.
Finally, pharma companies are creating partnerships and alliances to go to market. This creates challenges both internally and externally. In order to face these industry challenges, most companies will need to answer the following key questions:
Deloitte has collaborated with several life sciences companies (small and big pharma) in: