Events surrounding the coronavirus contagion, characterized as a “black swan” event, which started in China, remain very fluid and are changing daily. No one really knows what the future holds and what if any long-term global effects may result from this latest contagion. Therefore, this paper is about expanding on two themes that are of importance to the successful long-term operation of global pharmaceutical companies:
- What are the possible economic effects of this contagion on the global pharmaceutical industry that we can surmise at this time? This paper will outline in a structurally logical fashion the demand-side and supply-side pharma industry effects. The depth and extent of the effects of the coronavirus will depend on its geographic reach and length of time of existence.
- The other key related theme is that the coronavirus illustrates that pharma companies, as complex global organizations, are subject to numerous risks and uncertainties. This requires a pharma company to have a sophisticated culture of analytics to mitigate the effects when these surprise events occur.
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