Pharma’s Transformation towards Next-Generation Therapeutics
How to overcome novel challenges by reshaping operating models
Innovation plays a pivotal role in most industries. In the pharmaceutical industry, however, it has the potential to both save and enhance millions of lives. As the sector undergoes continuous transformation, it is possible to categorize the most groundbreaking innovations into distinct waves. The preceding wave was predominantly centered around biologics, such as antibodies, while the current wave is bringing forward new therapeutic modalities called “next-generation therapeutics” or NGTs. “We are entering a new frontier in medical innovation […]” said then-FDA commissioner Scott Gottlieb in 2017, when Kymriah from Novartis became the first officially approved therapy with genetically modified cells (CAR T-cell therapy) in the US. These new entities are achieving commercial maturity and reaching the market at an accelerated pace.
This strategy paper aims to provide information on the latest developments around next-generation therapeutics by offering fresh perspectives on their market and commercial dynamics as well as their scientific specialties. The paper places an emphasis on the NGT value chain, starting from the research and development that are involved through to the moment they hit the market and are rolled out. Additionally, Porsche Consulting has identified the seven most essential strategic imperatives for producing this new and innovative class of drugs.
- NGTs are a new field for Pharma companies. Top players are positioning themselves to leverage the huge opportunities.
- Building up expertise and gaining a competitive advantage in selected fields is key.
- Significant investments are necessary, which must also provide a significant ROI.
- The huge opportunities and risk of missing this innovative trend show the importance of entering this field.
- The complexity involved requires an extremely strategic and elaborated approach.
- If companies follow the seven imperatives described, they will have the chance to become real NGT champions.