A diverse, summer issue with articles on topics ranging from content marketing to the role of experience in a VUCA world. Also, the latest book for Medical Reps reviewed by Prof. Vivek Hattangadi
Every month, MedicinMan in partnership with IMS Health, brings our readers the latest industry numbers related to sales and revenues of different companies, brands and therapy areas in the Indian Pharmaceutical Market.
Is Pharma’s business model like McDonald’s? Doing things over & over again without innovation?
McDonald’s is famous for its Hamburger University, a training facility at the McDonald’s Corporation global headquarters in Chicago, Illinois. It instructs high-potential restaurant managers in restaurant management.
More than 5,000 students attend Hamburger University each year and over 275,000 people have graduated with a degree in Hamburgerology.
Sound familiar? Pharma’s training has been on similar lines – hire people continuously and put them through the grind of mugging up essentials of drugs for diseases that the particular company sells.
While the McDonald’s model is ideal for its business of replication, it has outlived its utility in healthcare and drug companies are in danger of being reduced to mere suppliers of drugs to new digital platform businesses unless they learn to innovate.