Four scenarios for the future of the pharmaceutical industry

Ron M. Bradfield, Hany El-Sayed

    Research output: Contribution to journalArticle

    19 Citations (Scopus)

    Abstract

    Pharmaceutical companies are facing several major interrelated challenges, the most strategic being the decline in R&D productivity resulting in empty product pipelines to replace products nearing patent expiry. A common response has been mergers and acquisition of competitors and biotechnology firms, but rather than resolving the problems, this has created new ones. While biotechnology promises to reshape the pharmaceutical industry, it too faces challenges: the industry as a whole is unprofitable and there is uncertainty regarding market acceptance of its products. This paper examines the current issues in the two industries, and describes a scenario process resulting in the development of a set of scenarios depicting four possible future paths along which the pharmaceutical industry may develop over the next 15 years.
    Original languageEnglish
    Pages (from-to)195-212
    Number of pages17
    JournalTechnology Analysis and Strategic Management
    Volume21
    Issue number2
    DOIs
    Publication statusPublished - Feb 2009

    Keywords

    • pharmaceutical industry
    • future
    • scenarios
    • new products

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