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The client is a pharmaceutical company based out of the United States. Although the client has an extensive R&D team, the company’s R&D process was cumbersome. This was because the company lacked appropriate prioritization and clear cut-off criteria. Also, the company’s R&D team was scattered and lacked cross-functional project management. Consequently, the client was falling short of its goal to bring 3 new chemical entities to market each year, which subsequently impacted their overall revenues. To reverse its declining sales and revenue, the client decided to focus resources on some of the major therapeutic areas and reduce the R&D budget over two years using the product positioning strategy. By leveraging Infiniti’s market positioning strategy, the client also wanted to maximize the value of its investments. Besides, the client wanted to achieve their business objectives such as:
Objective 1: Lower costs while increasing the output of profitable products
Objective 2: Conduct extensive research and development on the selected therapeutic areas
Objective 3: Devise a new, prioritized approach to R&D
COVID-19 has had a severe impact on the global pharmaceutical market. This has even impacted the pharma R&D and manufacturing activities. Contact us to know how our COVID-19 business continuity support solutions can help pharma companies to respond, recover, and thrive in the post-COVID-19 era.
Infiniti’s market positioning strategy helped the pharmaceutical manufacturing firm to:
- Understand resource requirements, prioritize the list of innovation options for new R&D strategy, and refine R&D budget
- Align its project portfolio with the new therapeutic areas to maximize the value
- Reduce R&D budget by 23%
- Reinvest remaining R&D budget into priority projects
- Establish a well-defined project portfolio prioritization process and cross-functional project management
- Reduce time-to-market
- Achieve the target to bring 3 new chemical entities to market each year
The coronavirus outbreak has affected businesses worldwide, and the pharmaceutical manufacturing market is no exception. Request more info to know how industry experts at Infiniti Research can help pharma manufacturers to devise comprehensive action plans to navigate the crisis.
About Infiniti Research
Established in 2003, Infiniti Research, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us