Transforming Big Pharma Assessing the Strategic Alternatives
In Transforming Big Pharma John Ansell addresses critically how strategy works in the pharmaceutical industry. The long-standing dearth of new products has led to a growing shortfall in revenues. Ansell assesses the wide range of alternative strategies big pharma companies have been pursuing in recent years in attempting to overcome this. He shows that there is sound evidence to expect the recent upturn in the number of new products reaching the market to go on to greater heights. Chapters assess the complex trends in attrition rates, show how rife spectacular sales underestimation in the industry remains, and explain how conventional wisdom on the chances of product profitability also seriously undersells the industry. The surest route to transforming the prospects for big pharma, Ansell contends, is to step up activity in acquiring and developing new products. This is now realistic because, as he shows, the amount of intellectual property available is much greater than it was a decade ago. Ansell believes that no other strategies have sufficient transformative powers, though they may be useful as a stopgap whilst the sales of forthcoming new products mature. He argues for a reversal of big pharma’s recent cutbacks in R&D and licensing, and re-focussing on new product development. Transforming Big Pharma is intended for those in senior and middle management in the pharmaceutical industry. It will also be valuable to students, as well as to all those dealing with the industry, including biotech companies and those providing services and products to the pharmaceutical industry.
’Ansell’s book dispels the current gloom of the pharma industry about its prospects. Not much conventional wisdom survives his lively and rigorous assessment of the opportunities open to the industry and for the more tuned in and strategically adaptive pharma companies to continue to execute successfully. An entertaining and well-argued case demonstrating why competence in new product development will continue to remain the value adding differentiator within the industry.’ Fred Hassan, President, International Federation of Pharmaceutical Manufacturers Association (IFPMA) and Chairman, Bausch & Lomb ’This timely publication comes at a tipping point for Big Pharma faced with almost boundless opportunities from new medical sciences yet subject to intense pressure on market access and growth. It provides an in depth analysis of individual company performance; successes and failures and presents optimistic yet pragmatic suggestions to transform the current state of the pharmaceutical industry. Essential reading for professionals at all levels in the industry and for payers and patients, the book provides an incisive analysis of the drivers of change in healthcare provision; covers the complexity and dilemmas facing R&D and the challenges of market access and brand management and, in addition, is a valuable source book of data. It provides clarity as to how the pharmaceutical sector differs from other industries and why individual companies need to be clearly distinctive.’ Prof Trevor M Jones CBE, former Director General ABPI ’It is refreshing to see the vital importance of new product development (and for business development executives the need for successful alliances) coming back into the spotlight after years of mega mergers and diversification that have failed to deliver transformative performance for Big Pharma companies. As such the book must be of interest to all Big Pharma companies as a sounding board for their strategic analysis and future direc