Reinventing R&D

After several decades of relative stability and predictability, pharma today faces a genuinely chaotic new world. Favorable conditions that prevailed for decades—consistent innovation flow, a predictable regulatory environment, relative freedom in U.S. pricing—have reversed. Supportive tailwinds have become stiff headwinds.

Leading companies are recognizing the need to transform R&D away from a mindset that was formed during the abundant period of the '90s. Oliver Wyman helps these companies to:

• Fully embrace the challenges payers face and develop products with a true value focus: Earlier payer engagement and trials constructed to reveal a medicine's value will be key going forward.
• Orient product and portfolio strategy to make the most out of what they have; rather than "What do we weed out?", ask "How do we make what we have work?" 
• Follow the science toward the right patients; figure out how to leverage personalized medicine to identify patient subgroups that will benefit most.
• Focus and build areas of differentiable capability by assessing therapeutic area strength and discovering the degree of focus required to win.
• Bring the best of internal and external perspective to R&D, embedding business development into the larger R&D framework to establish a less biased portfolio view.