This article ignited the ordinary in me to look for something extraordinary...Let us explore what is in store for Indian pharmacutical companies.
In Immediate future (next 1-2 Yrs)
- Pumping of more riches into Sales & marketing (Branding focus)
- In my view efforts like Disease Management Programs, DTC, Outcome based marketing campaigns, use of alternate Channel for sales will be on high radar.
- Not sure if you guys have read the recent article in TOI on Heart diseases being the no1 cause of deaths in India (Targeting and segmentation has already been started by the MNCs):)
- Lean back end operations- for agile Parent Organization
- Companies will Move away from Manufacturing, Development, non core functions (Remember nothing but S&M will be the core)
- No one wants to manage intellectual but lazy resources, companies want predictability not chaos, MNC have already experimented with costly chaos in ever escalating R&D costs. No one wants to repeat the same mistakes again, for sure not in India:)
- You would see more Clinical trial, Data management stuff being done for parent org from India (MNC want everything cheap that can be easily managed by someone else)
- Consolidation in the market (Top 20 players hold around 50% Market and MNCs are way behind Indian players)
- Watch out for companies like Glenmark, Mankind, Cipla being acquired by Pfizer, GSK and Novartis (Novartis healthcare business model in India is worth a relook).
- Emergence of new competencies and resources requirements (This is my Black swan)
- MNCs will need different skill sets to manage internal changes, competing WOW, Multi tasking and de-risking the portfolio capabilities.
- There will be emergence of initially project managers and then program managers. Final expectation would be for individuals with skills to sell services not products (Remember you won’t own the product but will offer services to customers and partners to sell the product)
Wacky but true…
