Recent quotes from pharma CEOs about the effects of President Trump’s potential policy actions clearly point to added elements of risk and uncertainty for the industry. This comes at a time when industry executives are already facing a myriad of difficult challenges. CEO quotes focus on pricing and innovation & intellectual property (IP) issues, these being the life-blood of any pharma company for the long run. The Trump presidency however will present additional important challenges to the industry which this paper will explore and suggest options to address. At the same time, pharma executives are weighing tremendous opportunities as R&D pipelines are generating new pathways to address various challenging unmet medical needs.
This white paper is about Part 2 topics of this series of interest to biopharmaceutical industry executives. The following highlighted questions will be covered given the challenges and opportunities posed by a President Trump administration:
|(1)||Part 1 - Why has a Trump presidency targeted the biopharma industry?|
|(2)||Part 1 - How could a Trump presidency affect the US biopharma industry through specific policy actions?|
|(3)||Part 2 - What if anything can individual companies do to prepare themselves against these policy actions?|
|(4)||Part 2 - What if any role is there for the use of commercial analytics in assisting companies to mitigate the increased risk and uncertainty caused by these policy actions?|
Finally, thoughts will be provided regarding Trump’s potential policy actions being seen as a catalyst for long overdue needed internal changes within the industry and company practices in response to the issues being raised. A framework for internal company changes and commercial model design are presented that will better demonstrate drug value and deliver desired patient and healthcare system outcomes.
This paper was co-published with The Medicine Maker.
Dr. George A. Chressanthis is currently Principal Scientist at Axtria. He brings a unique combination of professional experiences into the analysis of strategic and operational issues affecting the biopharmaceutical industry.
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