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Executive Summary
The world that
Globalisation, technological innovation and medical advances
“
are causing the pharmaceutical and healthcare industry to
pharmaceutical
undergo a fundamental shift in the search for a more
companies experience
sustainable way to improve the quality and health of human
today presents challenges.
lives. The world that pharmaceutical companies experience
today presents challenges: increasing risk, escalating costs and
mounting pressures from stakeholders to improve. The
expectations of patients, healthcare providers and regulators
around the world are rising, with demands for safer, more
effective treatments that deliver value at an affordable price.
Yet with existing blockbusters coming off patent, stringent
healthcare reforms and increased competition from generics,
future margins are under threat. Internal circumstances within
the industry do not look brighter. Despite escalating research
and development (R&D) costs, the pipeline for new
blockbuster drugs is thin and the number of new drug
applications has been depressed since the 1990s.
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Overall,
traditional strategies and operations can no longer support
and enable pharma to sustain their current growth and
profitability into the foreseeable future.
Opportunities do exist for pharma to turn this around.
Innovations in the field of medical science are realising new
products and services so that more diseases can be managed,
treated and even prevented more effectively. Improved
understanding at the molecular and pathway level of the human
body in both healthy and diseased states has created the
potential for more personalised, effective forms of treatment.
Information and communications technologies enable pharma
to interact with and service the wider healthcare system. There
are relatively new untapped markets overseas with potential for
high growth to be explored. There is a realisation within the
industry that in order to re-shape their future and follow the
path towards sustained growth, pharma must employ new
strategies to deliver innovative and valuable products and
services to the healthcare community in a way that mitigates
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