Top 11 Priorities in 2011 for Pharmaceutical: It Can Get ComplicatedFebruary 2, 2011
Correction: Thanks to readers for noticing the typo in the original post: Sanofi Aventis is negotiating to possibly buy Genzyme, not the other way around; and thanks for the insight into the deal that you left in the comments below. Corrections to the typo have been added below – as the post title says, it can be complicated!
One would be hard pressed to find an industry that is simultaneously as successful, complex, delicate and change-prone as pharmaceutical, biotech and medical products is today.
I am constantly reading reports in this sector about new drug launches, regulations, recalls, expiring patents, counterfeiting and tampering, and acquisition deals. Federal Health Care Reform is law, but certain parts of it are still being worked out in the courts and in Washington, DC. See, complicated, right? But also growing and changing.
In fact, as I write this, one of the world’s largest biotechnology companies, (Genzyme) Sanofi, [NOTE: Corrected 2/4/2011 – Sanofi is the company in discussions to acquire Genzyme, not the other way around as was mistakenly typoed in the original blog post] is set to begin due diligence that may lead to it acquiring Sanofi Genzyme – a multinational pharmaceutical company. If the deal is reached, it will close a long and intense period of negotiations over one of the largest mergers in the past year. To achieve profitable growth, companies such as Genzyme Sanofi are being forced to boost their drug pipelines and find new avenues to increase sales, operational efficiency and shareholder value.
What pharmaceutical and related companies all have in common is the need for a strong yet agile supply chain. You name a hot issue in the pharmaceutical industry – and you can bet it is impacted by the supply chain. This is one of the reasons that our experts recently developed the Top 11 Priorities in 2011 for Pharmaceuticals, Biotech and Medical Products.
Do you see one of your company’s priorities on this Top 11 list? Are there others that should be added? It will be interesting to see where this industry heads next.