- As sales of Merck & Co.’s immuno-oncology heavy hitter Keytruda soared 66% in the fourth quarter to $2.15 billion, surpassing Wall Street’s expectations they were knocked because analysts want to know ‘what’s next”?
- Pharma is obsessed with fighting and winning and dominating even if it means making bad business decisions.
- The wisdom of setting business goals—always striving for bigger and better—is so established within pharma that it seems like the only thing left to debate is whether the goals are ambitious enough.
- Pharma is suffering from ambition hyperinflation.
KEY IDEA: Theordore Levitt, author of Marketing Myopia, has said “that there is no such thing as a growth industry. “The history of every dead and dying ‘growth’ industry shows a self-deceiving cycle of bountiful expansion and undetected decay”. But somehow pharma is addicted to growth that isn’t possible anymore.