Life Sciences companies operate in a complicated world. The complexity of developing a new drug coupled with the uncertainty of changing regulations is very challenging.
 
Maintaining a balance between cost to build a drug pipeline and keep a portfolio balanced with the return on investment for the business is a key metric of successful R&D portfolio strategy. Successful companies recognize what they can control and make that the center of their focus. 
Life sciences organizations also need to focus on redesigning jobs and tasks to utilize human capital more effectively and align them with changes in organization structure necessary to achieve greater efficiency while reducing costs.
Pharma companies benefit when they engage regulators and embrace regulations, ensuring new products progress efficiently through the pipeline.
 
New clinical trials involving patient representatives can help increase acceptance by payers and providers and improve demonstration of value directly to patient groups. 
Internally, several companies can establish cross-functional steering committees to integrate R&D functions with commercial, medical affairs, clinical, market access and also key areas of external partners.
Companies successful in working more effectively with regulators while also re-evaluating internal processes will have a competitive edge over current competitors, affording greater realization of intrinsic potential.

© 2023 by James Consulting. Proudly created with Wix.com