In our rapidly changing world, adaptability is essential. The strategies and decisions that yielded results yesterday might not be as effective today. By actively engaging with and updating our mental models, we position ourselves to adapt swiftly to evolving circumstances. This ensures our decisions remain timely and anchored in the present.

Pharmaceutical companies must contend with challenges from supply chain lapses (theft, diversion, S.O.P. deviations, product recalls, reverse logistics etc.) counterfeiting and stringent regulations. These challenges get compounded when dealing across the states and country business operations, besides that not only impact tangible profits but also the intangible brand credibility. In this context, there is also a credible increase in public awareness about the genuineness of medicine (in particular medicine that require cold chain) and their predictability of clinical outcomes. Providing visibility and full traceability becomes a paramount importance to both the Industry and the Govt. – A fool proof solution not only brings transparency in the system, but can also be a key differentiator, and undoubtedly can create immense opportunities for a competitive advantage.

Impact of Trump’s 100% tariff on imported patented/innovative drugs...

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.

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