Insight into the Sustainable Strategies for Generics
- Peter Wittner
- Senior Consultant
- Interpharm Consultancy, United Kingdom
The generics industry is an unpredictable environment that is constantly changing.
It is probably not unrealistic to also describe the generics business as a Darwinian world where companies need to evolve to survive. Those that do not evolve will be overtaken or eaten by more efficient competitors that do know how to evolve. The motto is "Evolve or become extinct"!
We have seen how the biggest companies have done just that – evolved by swallowing smaller competitors and diversifying into new areas in search of lower levels of competition. As in the jungle, we have also seen that even top predators such as Teva can make mistakes, overreach themselves and suffer terrible indigestion by trying to swallow a target that was too big (Actavis) and that resulted in their suffering a US$6bn write-down in 2017.
So, the big question is – how do you survive in the jungle? There is, of course, no single answer or strategic approach that is right for everybody.
Should you be expanding your product range – or expanding your geographical presence? Would moving into biosimilars be right for you? Is it time to consider contracting out more of your manufacturing – or should you be contemplating expanding your in-house production facilities instead?
What the course in February hopes to do is help you identify strategies that will allow you to identify new opportunities, let you grow in a sustainable manner – and of course help you to avoid being swallowed by a larger competitor in the Darwinian generic jungle!