Biopharmaceutical High Performance - Industry may be its own obstacle to success in achieving the desired high-performance state. - BioPharm International

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Biopharmaceutical High Performance
Industry may be its own obstacle to success in achieving the desired high-performance state.


BioPharm International
Volume 24, Issue 7, pp. 65-66

PERFORMANCE ANATOMY

Performance anatomy is about culture, leadership, and the workforce and the critical role they each play in driving mindsets, practices and results. Culture and leadership matter when it comes to explaining how some organizations achieve and sustain high levels of performance. Becoming a high-performance pharmaceutical company will require moving away from an internally focused organization to one with the ability to create a borderless culture that enables the organization to mesh quickly with external partners. For example, instead of being a company that does proprietary R&D, a pharmaceutical company may move to a model where it does significant joint development with other companies or has several partners from which to source innovation.

CONCLUSION

The time has come for large biopharmaceutical companies to make a clear choice about the business(es) in which they are in, and how they can provide more targeted solutions. They'll need to stake a dominant market position based on differentiated capabilities, divesting the assets that don't fit, acquiring those that do, and transforming their business to deliver solutions that meet customer needs. To achieve high performance in the future, companies will need to develop new or significantly improved capabilities in strategic deal-making, global expansion, analytics, and in digital and multichannel interactions. They will need to develop new organizational cohesion to ensure alignment with improved customer outcomes. They will need to make hard decisions about where to invest and what to divest. In conclusion, several factors and trends in the life-sciences industry make consolidation an inevitable reality. Only through a rigorous process of strategic target identification, due diligence, and seamless postmerger integration will tomorrow's leading companies lay the groundwork for sustainable shareholder value and high performance.

Michael Brüeckner is managing director of Management Consulting for Life Sciences, and David Sheehy is a partner responsible for global strategy in Life Sciences, both at Accenture, http://www.accenture.com/


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