Navigation Links
The Thousand-Year Business Model for a Modern Biopharmaceutical Company

CHAPEL HILL, N.C., Aug. 24, 2012 /PRNewswire/ -- Heightened regulatory scrutiny coupled with economic unrest has many biopharmaceutical executives focused on cutting costs and reorganizing key functions to serve physicians, payers, patients, and stakeholders more efficiently. However, two thought leaders recently stepped away from the micro point of view of operating in today's business landscape to draft "the thousand-year business model" for a modern biopharmaceutical company.

Christopher Bogan, chief executive officer of Best Practices, LLC, and Daniel Pascheles, Ph.D., vice president at Merck & Co., Inc., jointly-authored the white paper titled "The Ultimate Business Model: Planning that Thousand Year Future." The full text is published in the August 2012 issue of Pharmaceutical Executive, a leading trade journal for the pharmaceutical industry.

Aside from proven tactics for business survival, including partnerships (see M&A Integration Excellence), technology investments (see Deploying the iPad to Sales & Managed Markets Teams), and talent management, the white paper covered twelve potential paths or opportunity fronts to reinvention for the hypothetical BioPharmaCo., referenced throughout the piece.

These opportunity fronts spanned the organization, from the frontline to senior management, from finance to legal, from market research to supply chain. The twelve potential paths for reinvention highlighted directly improving patient care in areas such as health outcome services (see HOLs: The New Payer Facilitator) and treatment adherence services (see Zithromax: Case Study in Successful Re-Launch), in addition to several others mentioned in the white paper.

Drawing from themes in nature, such as procreation, pollination, gene mutations, and environmental pressures, the Bogan and Pascheles emphasized adaptability as a critical factor for survival, both in the natural and business worlds.

"In an era where success is monitored and measured in microseconds, planning for the long-term is increasingly seen as an abstract absurdity," the white paper reads. "Yet the principles of natural selection, when applied to business, suggest that a lasting business model is still possible – if you learn to adapt."

For more information on the thousand-year business model, contact us at 919.403.0251 or at    

BEST PRACTICES, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide.

Best Practices, LLC's clients include the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our reports, database, and advisory services to support executives in commercial and R&D operations.

SOURCE Best Practices, LLC
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Informex Global Pharma Sourcing 2012 Presents Key Strategies & Insight For Business Success
2. Pfizer and Mylan Team Up to Establish Exclusive Long-Term Strategic Collaboration to Drive Sustained Growth of Generics Business in Japan
3. Human Circuit Recognized as an Industry Leader in Commercial Integrator Magazines Business Series as a Top 5 Healthcare Market Media Integrator for 2012
4. Organovo Reports Q2 2012 Financial Results, Provides Business Update
5. Pressure BioSciences, Inc. to Discuss Second Quarter 2012 Financial Results and Provide Business Update
6. Elcelyx Therapeutics Names Mark Wiggins Senior Vice President of Business Development, Ginger Graham to Board of Directors
7. Alexza Reports 2012 Second Quarter Financial Results and Provides Business Update
8. AspenBio Pharma to Provide Shareholders with Business Update
9. Vesta Inc. Opens Frankfurt Office to Increase Service to Their Growing Medical Device Contracting Business Overseas
10. NationsHealth, Inc. Boosts Arizona Economy With Business Expansion
11. Qforma Appoints New VP, Business Development
Post Your Comments:
(Date:11/25/2015)... Nov. 25, 2015  ARKRAY USA ... to provide evidence demonstrating the accuracy of its blood ... on Insulin Resistance, Diabetes and Cardiovascular Disease in ... the Company,s GLUCOCARD ® 01 meter and the ... requirements. The ability to accurately measure glucose levels in ...
(Date:11/25/2015)... issue of United States patent No. 9,192,509  entitled: " Methods and Apparatus ... AVACEN 100 dry heat therapy medical device and specific methods of use, referred to by the ... - ... ... ...
(Date:11/25/2015)... , November 25, 2015 ... Investors"), pursuant to which BioLight and the New Investors ... Ltd. subsidiary ("IOPtima") via a private placement. The financing ... its innovative IOPtimate™ system used in the treatment of ... pathway process for the IOPtimate™ system with the U.S. ...
Breaking Medicine Technology:
(Date:11/26/2015)... Cambridge, ON (PRWEB) , ... November 26, 2015 ... ... availability of a real-time eReferral system for diagnostic imaging in the Waterloo region. ... mammography, BMD and Nuclear Medicine tests directly from their electronic medical record (EMR) ...
(Date:11/26/2015)... ... November 26, 2015 , ... PRMA Plastic Surgery is updating their record books ... their 6,000th free flap breast reconstruction surgery! , “What an accomplishment for the PRMA ... rebuild lives and it’s an honor to have served all of these women.” , ...
(Date:11/26/2015)... ... , ... Indosoft Inc., developer and distributor of the world-class Asterisk based contact ... and reliability. , The new Q-Suite 6 platform is based on the latest Java ... into a specific piece of software for many key components of the suite. Much ...
(Date:11/25/2015)... Cokato, MN (PRWEB) , ... November 25, 2015 , ... ... Thanksgiving through Christmas Eve on several models of traditional and far-infrared saunas. ... . Nordic Spruce is the most traditional Finnish sauna wood, and Finnleo uses only ...
(Date:11/25/2015)... ... November 26, 2015 , ... ... (AUC), European Union (EU), ANDI Pan African Centres of Excellence, and public R&D ... Nairobi (UNON) for the opening of the 5th African Network for Drugs and ...
Breaking Medicine News(10 mins):