The pharmaceutical industry is in a critical period of transition. Business models that have proven remarkably successful over the past 20 years are now encountering major challenges. As companies grapple with the leading symptoms of these challenges — pricing pressures, pipeline productivity concerns, a growing public distrust, and greater political scrutiny — it’s becoming increasingly clear that a profound shift is underway in what it takes to be successful.

The winners in this market storm are going to have to reinvent themselves to compete based on significantly stronger economic and clinical value (ECV) propositions. This will require developing strategic marketing capability that can identify and take advantage of such value-based opportunities.