The traditional biopharmaceutical business model is no longer viable, and if biopharma executives want to continue to be profitable in the future they need eradicate inefficiencies and silos, and figure out how to collaborate with other industry stakeholders toward common goals.
When they do this, they will finally be able to cut time and cost from their processes, and spread the risk more evenly among players, while bringing more transformative treatments to market.
But this transition won’t be easy. It means they have to think more holistically about their business processes, and actively pursue collaborative projects that have clearly defined cost, quality and value benefits for all partners.
Unfortunately, our recent survey suggests that while many healthcare industry...