The pharma pendulum swings back towards diversification
This article was originally published in Scrip
“Diversification” is back in vogue as a Big Pharma strategy – just like it was in the 1960s and 1970s. Only this time the diversification strategy has different forms and flavours compared with that period.
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I have returned from the PhRMA Annual Meeting in San Diego. My recent book was handed out to all registrants of the meeting and I got to hear from many of them. I appreciate feedback. And the takeaways from my book are the same as my own personal playbook.
Successors, flankers and toppers are product lifecycle management (LCM) categories used by pharma executives, although they may be referred to differently by other companies.
Early in my career, I learned the essential principle of product lifecycle management (LCM): "Do LCM because you create value for the patient or the customer – not just because you want to get more profit out of each molecule."