The pharmaceutical industry is undergoing a commercial evolution. Traditional sales and marketing tactics — such as the classic in-person sales rep model — have declined, straining under the pressure of rising costs, new regulations, increasing provider consolidation, changing operating models, and greater market complexity. The result is that pharma companies and their sales teams are losing critical access to providers and patients. In response, they are investing in new commercial models (NCMs) in an attempt to better engage and sell to customers. Strategy& recently surveyed and interviewed more than 150 senior sales, marketing, and strategy pharma executives across the U.S. and Europe to determine the extent to which NCM elements had been deployed, what lessons had been learned, and which elements the executives consider worth investing in as they go forward. Below, we outline the key findings of the Global Pharma Marketing & Sales Study.
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