Life sciences companies face fierce cost pressures as they try to move into new markets or develop new products. Changing reimbursement models and an expanding set of buyers and influencers increase complexity, while operating cost constraints remain. However, gaining the agility to better compete in this industry is not a one-time exercise, and it is not just about reducing costs. Taking the right actions to structurally reduce operating expenses can free up cash for R&D, new-product introductions and market research. This, in turn, fuels growth and innovation to help create a sustained competitive advantage and profitability.
Life sciences companies can gain the agility to compete by:
Creating a more efficient operating model that frees up resources to invest in growth through research and development
Embedding process excellence throughout the organization to drive effectiveness
Building leading-edge capabilities to create differentiation from competitors