We are getting far enough into 2012 to see there are some big issues affecting the #pharmaceutical industry. A number of patent expirations is spreading pressure throughout the industry to cut costs and speed up productivity. #Generic medicines are picking up while the rest of the industry seems to be slowing down. While some pharmaceutical companies may be resentful of generics, there is no point of playing the ostrich with their head in the sand, generics are here to stay and we need them for an affordable healthcare system. Looking to new and emerging #markets is going to be critical to pick profits up long term. However looking into new markets brings a whole new list of challenges for the companies that dare. Emerging markets have their own healthcare model, regulations, distribution, pricing and reimbursement systems, that will need to be carefully navigated. Another issue undergoing transformation this year is #supply chain. Agility is going to be crucial as we see shortages of drugs and changes in market demand. Pharmaceutical companies are going to have to analyse their business and strategy individually if they are going to come up with a supply chain that is flexible and responsive for them.
How is your 2012 going?
To hear more about issues affecting the pharmaceutical and biotech industries go to BioPharma Australasia, which will be held from the 23rd-24th August at the Swissotel Sydney.