Why Pharmaceutical Companies Will Need to Alter Business Models

by: The Burrill Report

Pharmaceutical companies will need to rethink their strategies as the world in which they operate undergoes dramatic changes. Patients, armed with unprecedented access to information, are being transformed from passive participants to super-consumers of healthcare services.

Drugmakers will need to rethink not only how they approach them, but how to forge partnerships with nontraditional healthcare players that are helping to usher in this new era from telecommunications carriers to information technology device makers. We spoke to Carolyn Buck Luce, global pharmaceutical sector leader for Ernst & Young, about these changes, how pharmaceutical companies will need to alter their business models, and whether or not drugmakers are ready for what lies ahead.

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