Pharmaceutical innovation has traditionally been sequestered inside R&D — find the next new blockbuster drug, the next great thing. Can that continue? Is it sustainable? Product innovation will always be important, but it won’t drive the outcomes we want for society or our industry if consumers don’t trust it, doctors aren’t prescribing it, or people won’t use it. In a market disrupted by shifting consumer attitudes, distrust, and digital innovation, incremental adjustments won’t be enough to transform an ailing business model. To succeed in this new landscape, it will be critical to develop an ambitious go-to-market strategy that engages, informs, and drives adoption with all stakeholders in the health ecosystem.
Future Focused Initiatives
New Market Models
Finding new strategies for bringing products to market is going to be increasingly important. How will you differentiate your products with doctors so they prescribe? At a higher-level, how do you really drive differentiation so your products aren’t so easily substituted the moment patent protection ends? Working cross-functionally with payer groups, physicians, and patients will be key.
Patient Compliance
What can pharma companies do to make patient administration, application, and adoption easier so that people actually use the medications they’re prescribed? Leveraging technology, adding a marketing focus on the benefits of adherence, and other patient engagement approaches could mean seeing improvements sooner.
Digital Health
How do digital technologies play a role in health conditions, and how can we play a role within that? Digital therapeutics are beginning to offer treatments that augment drugs or don’t require drugs at all. New real-time monitoring devices will allow consumers to measure drug efficacy more rapidly.
