Mal's musings: Hey pharma, were all in the same business, arent we?
How a little more collaboration could
lead to a lot more value creation
It
is astonishing how little proactive cross-sharing, collaboration, and learning
takes place in our industries.
Apparently,
we all face unique situations that require different approaches.
Therefore,
learning from others is impractical, if not irrelevant.
So
I hear a lot of I am in pharma, I am in oncology, I am in diagnostics
These
descriptions are all technically correct but narrow and restrictive.
The
boundaries we use to divide our sectors are artificial.
Surely,
industries exist to provide solutions; therefore, the important factor is the
solution not the methodology.
A
recalibration of sector boundaries will enhance collaboration and pave the way
for the healthcare industry of tomorrow.
We
are all in the healthcare sector; any other divisions are subdivisions.
Treatment
pathways for diseases and ailments require effective diagnostics, intervention,
and post-treatment management.
The
basics are still relevant here.
Our
customers want solutions to their problems.
If
working together facilitates better solutions, then that is what we should do.
For
example, if we consider the effective treatment of a disease like diabetes, it
requires diagnostics, drugs, devices as well as effective dietary and lifestyle
management.
It
is clear that this cuts across the imaginary dividing lines we have.
One
of the common complaints from physicians is the inability of our representatives
to present products in the balanced context of the world in which they live.
I
would go further by saying that there are even bigger upsides in this kind of
perspective to be adopted at R&D and strategy-making levels in our organizations.
There
are examples of this happening already, such as devices being designed with
drugs and recent biotechnology approaches.
These
are examples of a move in the right direction, but we need more.
If
we had greater collaboration and genuine healthcare set ups, then diagnostic
tools that might help identify treatment that would be best suit patients would
be embraced and encouraged.
Crossing boundaries, creating value
We
have to pull our heads out of the sand and envisage the challenges and
opportunities that lie ahead of us.
It
would be a shame if we were again reluctantly forced to tackle decision-making
that is designed to favor the industry rather than our customers.
Almost
without exception, we lay claim to a passionate desire to restore health and
well being.
We
should consider whether our structures, strategies, and values are aligned with
the mission we propagate.
Why
does Nike collaborate and design products in conjunction with Apple?
Because
they uncovered a problem that neither can solve in isolation, so they work
together to provide the only thing customers want: a solution.
We
need more examples like this in our industry, where R&D departments are not
trying to come up with industry-specific solutions but expertise is combined
for an effective outcome.
Is
it possible to have a diagnostic and drug device all in one?
Yes,
but we will see more of these when we breakdown our artificial barriers.
The
various subsectors often behave like brothers and sisters at war.
A
recent survey suggested that medical technology executives felt they could
learn from one another and from other sectors like FMCG but not from pharma.
There
is something paradoxical about this.
The
danger here is that egosmore than common sense and practicalitiesare driving
behaviors.
The
value voice is getting louder.
It
is time to start crossing imaginary boundaries to create value.