How Will The Coronavirus Pandemic Affect The US Pharmaceutical Industry?

WHITE PAPER

WHITE PAPER

How Will The Coronavirus Pandemic Affect The US Pharmaceutical Industry?

The outbreak of the coronavirus pandemic illustrates the inherent risks and uncertainties that are prevalent in the operation of complex and global business, as seen in the pharmaceutical industry. The coronavirus pandemic also illustrates the need for companies to have empirical systems in place to act quickly to mitigate the effects of such events when they do occur. This white paper provides a structured list how the coronavirus pandemic will affect the US pharma industry in the following areas: (1) demand-side, (2) supply-side, (3) marketing/brand strategy, (4) non-personal promotion, (5) sales force strategy, (6) sales force operations, (7) managed markets/market access, (8) medical affairs, and (9) role of analytics to mitigate the effects of future “black swan” events. This is a non-exhaustive list and is likely to change as events unfold, resulting from the spread or control of the coronavirus pandemic and/or policy reactions and their effects to the outbreak. This paper concludes with action steps pharma companies should take in the short-term, medium-term, and long-term in response to the coronavirus pandemic and their effects on commercial operations, with a section specifically devoted to decisions regarding incentive compensation.

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