How the pharma and life sciences industry can balance purpose with profit
Look ahead: Pharma and Life Sciences
The pharmaceutical and life sciences sector directly employs 765,000 people in Europe alone and its top 20 companies spend a collective $60 billion a year on drug development.
Where now for an industry that has played a key role in combatting the biggest public health crisis in a generation? How does it pursue profit with purpose?
In the latest of our Strategy& The road to responsible growth reports, we take an in-depth look at the industry, exploring the challenges and opportunities – and understanding its place through the prism of its economic and industry setting.
The report draws on the industry insights of our consulting and deals strategy teams. The report outlines three levers of change likely to galvanise both organic growth and business transformation.
Those three change levers are the altering profile of innovative medicines, overall healthcare affordability, and geographic diversity.
Looking through the lens of responsible growth and business purpose – encompassing ESG – the report offers a range of tangible suggestions of what a responsible business should do next.
"Access and affordability of medicines must become the focus for pharmaceutical organisations as they look to pursue greater social purpose.”