Current profitability is a priority for 80% of pharma companies ahead of future

Pharmaceutical companies are more concerned with getting their existing business right, before implementing added value ‘Beyond the Pill’ initiatives, according to a survey undertaken on behalf of life sciences software company Model N at the recent eyeforpharma Value Added Services Summit held in London.

Although in almost every case the issue is on the boardroom’s agenda, 60% of those surveyed described their company’s Beyond the Pill strategy to-date as embryonic, with fewer than one in four at a more advanced stage of development.

James Robinson, directory of industry solutions, Model N, said: “There is clear consensus that we now need something more than just the product in securing increased loyalty, usage, outcomes and better margins. However, with almost half of respondents citing a lack of definition as to what value actually looks like for their business and little financial return anticipated in the short term, it’s no surprise that few firms have yet turned this into positive action.”