How Dare ?

Austerity has become a main purpose of  today's pharmaceutical industry. There of course economic downturn has  been negative impact on each an every industry. In the last two decade along with development of communication network governments has had more information regarding healthcare cost measures of the other nations.
Healthcare spending has been great concern due to its  big share in the budget with  an increasing  burden on following years budget planning.
Therefore governments have followed best cost cutting practices which they have been applied & contributed a saving for the  nations. However in this period of time a very few pharmaceutical company have shown a reaction to such rigid government regulations.
Although pharmaceuticals had a claim regarding their low profit margin on prices due to their investment costs. All of them have fulfilled required cost cutting measures for their products.
Where those cost measures have applied which governments have had a stronger place in front of their supporters cause prices went down and co-pays of the patients has decreased.
During those days of  strong governments demand for cost reduction  ;pharmaceuticals have just put effort to be less affected by such measures, but instead  to kept defending their strong arguments about their investment costs.
Based on  such recessive standing of the industry governments have elevated demand for more and more.
Financial support /advantages, tax exemptions have provided for building up local manufacturers by the governments. Even  international laws regarding data exclusivity, patent protection has not been considered for a while to let national industry get its competitive development phase by the governments.
As a natural consequence of  cost cutting attempts ,primary audience, public  have backed up and applaud their government for defending their income budget.
There still negotiations have been going on to reduce prices among stakeholders governments and the industry. Trying to find out a strategy for continuation of the business has led big pharma to acquire other companies, generic manufacturers but it has not yield better results. Big Pharma and all others have to circled back to same point ''austerity'' which yet there is lack of solution.
New business model ought to leave seeking small advantages for just keep surviving business but instead  need to pick a decent model for new positioning itself through growth and respectfull place.
How might be possible to adapt such a new model to today's business ?
  • Change needs a strong desire and no tolerance to mediocrity ;Check it out if human resource capable to make this happen ?
  • Leave imposing your old company culture and rules to executives instead ask their opinion for change management and development for new positioning
  • Open and transparent communication among all stakeholders is an inevitable measure to start change get it
  • Embracing new technology for day to day business is must
  • Establishing a committee among stakeholders for future positioning of the company maybe helpful
  • Pause as if there is any expenditure for just to save today business  but nothing contributes as a  whole for future business.
  • Total quality management understanding   in order to feed decent company profile  and strategy must be executed 
  • Overheads shouldn't be the first things to be considered for cost cutting  but they need to be questioned in terms of their contribution for  future strategy implementation.
  • Marketing gurus, advisors help for re-establishing a pharmaceutical business is as a new brand might be tried .Applying common sense might contribute beneficial return.
  • Product portfolio has to be reviewed with an objective and based on fact evidence gatherings  by excluding emotional ties of the executives for future operations.
  • Healthcare industry need to review its market skimming strategy for long term healthy presence which might leave many concern behind and lift up pressures from executives shoulders through well planned profitable return strategies.
  • Living organization instead of strongly depended business  culture may only be a solution to cope with changing conditions and environments
  • Procrastination habits of the industry need an immediate isolation and they  need to be left
  • There is nothing here above  by pass ethical business understanding even there is more advantages over today's
  • There also need to create a listening modest culture for sake of success of the business cause there is a perception among pharmaceutical executives that they consider  themselves  as  top tier of all industries
So one might question that how a person  who even has no position in the industry but dare to suggest  some strategy implementation.
My answer is ; I hold a position which enables me to look  from different angles herewith I have lack of   conflict of interest and concern  to stay in the box thinking.


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