Business Model Challenges

PHARMA VOICE
November 2014
Featuring: Dr. Chitra Lele, Sciformix Corporation

Life-sciences companies will need to employ new business models to understand the data now available from multiple sources.

Dr. Lele says companies will focus on products that will meet the needs of emerging markets from where the majority of the revenue growth is expected.

“It will be important to find ways of delivering new medicines at much lower prices,” she says. “This will have to drive a change in the way clinical development is done – increase efficiency of clinical development programs through an integrated data driven approach, open data models and information sharing, smarter designs, and more outsourcing to the right service providers.”

She says companies have to invest in marketing and sales infrastructure for the future focusing on integration with social media and mobility, especially because the penetration of social media is extremely high in the emerging markets.

“They will also need to find ways to optimize the application and integration of recent advances in technology, such as cloud computing,” she says.

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