Clarkston Consulting releases 2015 Life Sciences Trends Report

Clarkston Consulting, a management and technology consulting firm specializing in the life sciences and consumer products industries, just released their 2015 Life Sciences Trends Report.

The 2015 Life Sciences Trends Report focuses on four major trends affecting the industry, discussing the implications of each for life sciences companies. The key trends and challenges highlighted in the report are:

• Strategy: Whether by divesting underperforming units or investing in complementary treatments, life science companies are looking for ways to improve their bottom line. As they examine their long-term strategies, they must take into account how expanding global patient populations and increasing competition from generic and biologic drugs will impact their business models.
• Innovation and R&D: The melding of healthcare, technology & big data has, and will continue to, improve drug access, adherence and tracking over the coming years. With these advances – whether 3D printing, cloud-based platforms, or wearables – HIPAA and data storage, transmission & security are primary concerns. In addition, with the cost and skills that technology development requires, pharma and biotech companies will seek partnerships with tech and medical device companies, and vice versa.
• Supply Chain: With expanding global patient populations, manufacturer consolidation, and big data and technology advancements, supply chain effectiveness is vital to business success. Life science companies are finding ways to better forecast demand and build more agile supply chains, capitalizing on real-time data solutions. In addition, to comply with US Drug Supply Chain Security Act requirements, companies at the forefront are collaborating with trading partners and strategically investing in serialization solutions and pilot programs that can improve efficiency and drug safety.
• Commercialization: Globally, healthcare costs are impacting how life science companies bring therapies to market. Companies are focusing on building their pipelines in specialized areas, subsequently considering demand and the likelihood of regulatory approval. However, to garner an affable return, companies will need to collaborate with payers and providers to demonstrate improved adherence, innovation, and overall improved patient outcomes.

"Evolving healthcare systems and increasing regulatory guidelines are forcing life science companies to reevaluate their business models," says Janel Firestein, Partner and Life Sciences Industry Leader at Clarkston Consulting. "Whether through partnerships, strategic investments, or downsizing, life science companies are focusing on their core competencies while exploring new ways to encourage innovation and improve efficiency within their organizations."

SOURCE Clarkston Consulting