Complexity and Innovation in the Pharmaceutical Industry

Published: 2004
Author or Editor: Author

Companies in the pharmaceutical sector are facing increasingly turbulent conditions in their relations with other companies and with policy makers, regulators, and members of the public. On top of the usual uncertainty about which research areas are going to lead to the next big breakthrough - what will work and what won't - there are many new issues that could affect the future of the industry. These include how to bring radically new types of product, such as biotech and genomics drugs, or stem cells, to the market; a changing regulatory environment; the impact of health service purchasing policies and other market-related factors, and public/stakeholder acceptance of new drugs and medical procedures. No single factor is likely to cause a seismic shift in the industry, but a combination of circumstances in an unexpected sequence could lead to major shifts in the balance of power and competitive advantage within the life science sector.

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