Strategic portfolio rationalization offers big dividends in the pharma business. Handled effectively it can drive transformation, growth and catalyze the delivery of new medicines. But to succeed it’s vital to have a structured plan in place. One that sees potential hurdles and, most importantly, can help you overcome them during execution.
Our pharma client had to simplify their product portfolio across 75+ markets. While they had already out-licensed many older products, they needed to tackle the phasing out of a substantial portfolio of 38 mature products, across all continents.
We assembled an expert team that included a lead consultant with top-tier management consulting and industry experience. We focused on bringing a mix of capabilities to support the client’s leadership across a range of areas: corporate strategy, finance, global manufacturing, and supply chain.
This dovetailed with the expertise of the client team, enabling faster decision making. This setup was vital. Because over 12 months we would lead a large cross-functional client team through their entire mature products portfolio. Our approach included:
Our approach enabled the rapid development of the strategies and tools needed to effectively coordinate all product deletions. Put simply, we delivered results rapidly. Within just the first year, we helped our client delete over 50% of their target products. But that was just the start. We exceeded client expectations. By the end of the project, we had supported the deletion of 250+ product and market combinations across 75+ markets.
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