The Pharmaceutical Sector: A Long-Term Value Outlook
PharmaFutures 1 was a GBN-led scenario planning exercise undertaken by the pharmaceutical industry and its investors in 2004. The project approach was based on the premise that the industry’s business model needed to adapt in response to the serious challenges facing the pharmaceutical industry.
The people and partners involved during PhamaFutures 1 addressed the dilemma of how to convince investors of ongoing profitability while simultaneously meeting changing and growing societal expectations. Fifteen informed private sector stakeholders reviewed the evolution of the sector over the next decade. Their deliberations were enriched by interviews with thirty external experts and a website discussion forum.
The overall findings outlined seven key issues facing the pharmaceutical industry that were relevant for considering the future operating environment. These findings were explored in depth in the final report PharmaFutures 1: A Long-Term Value Outlook (download report), which presented three plausible, relevant futures, all of which pointed to the inevitability of significant change for the industry.
Comments
Innovation remains core to our success, ensuring we research and develop new medicines and vaccines which address unmet medical needs. The Shared Value report outlines how all stakeholders including industry, investors, governments and regulators can play their part in ensuring the appropriate balance between value for money and delivering fair rewards for innovation can be achieved.
Simon Jose, GSK