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Key Industry Trends

The balance of power is shifting from providers and manufacturers to patients and payers. Change is driven not only by new products, but by new behaviors and expectations.
Pharmaceutical companies need to engage with customers openly and transparently as power shifts to patients.
The industry has focused more on diversified market portfolios and bottom-line returns than on top-line growth, as the patent cliff, reduced R&D productivity, pricing pressures, globalization, and demographics have challenged the long-standing blockbuster business model.
Companies are investing in genetics and genomics and working to improve their scientific productivity and properly integrate new programs. To get access to the best science, they are collaborating with academia, governmental and non-governmental organizations, fellow life sciences companies, and other stakeholders, such as regulators and patient groups.

Talent Opportunities and Challenges

The demands on today’s life sciences leaders are increasingly complex.
They must adapt to an evidence-based, outcome-focused, and behavior-driven world; address the growing challenge of chronic diseases; shift from a mindset of treatment to one of prevention; incorporate big data; bring their organizations from product - centricity to customer-centricity; foster continuous relationships with patients rather than one-off transactions; and, ultimately, change the value proposition for patients, providers, and payers — and thus for shareholders.

While the next few years may be a transition period for the pharmaceutical industry, we anticipate that with the right management in place, and with the understanding of current trends, the following decade could bring renewed productivity and prosperity to the industry. At Ward Howell, we work with our clients to identify and develop the leaders who can make that happen.

Areas of Expertise

  • Pharmaceuticals
  • Biopharmaceuticals
  • Consumer Healthcare
  • Medical technology
  • Contract Services

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