Big Pharma slow to get the picture

November 17, 2008

Like Kodak’s failure to shift from away from film faster in the face of digital cameras, the world’s top drug makers are dragging their heels in rethinking they way they do business.

At least that’s the view of Bain & Co partner Tim van Biesen, who told the Reuters Health Summit there were clear parallels between the revolution in photography and the looming slump in sales and profits as old blockbuster drugs face a cliff of patent expiries.

“Next month’s film sales were so overwhelmingly profitable that it was very hard to pull away from that business model. Pharma today is still faced with that same dilemma,” he said.

Click here to listen.

One comment

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I could understand why they are slow to change. They have made billions upon billions doing things the way they have.