SUMMARY: The biggest threat to the pharma industry isn’t the coming tsunami of healthcare changes. It’s reshaping the company to once again focus on patients instead of profits.
MINUTE READ: Big pharma should take a good, hard look at small biotech companies and try to better understand how they succeed and are able to make strategic decisions faster without multi-levels of bureaucracy.
People who stay with a company just because of their salary and benefits are not the kind of people that are needed to make the leap from good to great.
- 2018. For half a century, corporate America has been ruled by the gospel of shareholder capitalism, as proclaimed by Milton Friedman.
- While most senior pharma company executives focus on the profits, many of the rank and file really want to help patients but are overruled because of ROI.
- Pharma companies are not a good place to work. Open offices and small raises often lead to a stressful work environment.
POST SUMMARY: It was suggested, in a recent survey, that the primary reason people are leaving the industry is because of compensation, but my informal survey among those currently inside the industry and those that have left indicates a wider, more serious problem.