In Parts I, II, and III of our case study, we outlined the challenges faced by a drug company who wanted to be a bigger player in the generic pharmaceuticals business, as well as begin entry into branded drug space.
After implementing a robust action plan that addressed a variety of issues and opportunities, the company started to witness breakthrough performance.
First, the results entailed the successful implementation of a new R&D business model, focused on both generics and branded technologies. This meant:
- Faster adaptation to change within the company and business environment. This ability to be agile and flexible led to a major reorganization in order to increase results throughout the enterprise.
- A SWAT analysis created a new process for handling and tracking controlled substances — from receiving to shipping — that was projected to save the company over $300,000 per year, and 1,400 labor hours per month.
- A series of advanced clinical studies and a substantial increase in the number of patents filed by the company.
But, perhaps most importantly, the company accomplished their two initial goals.
Not only did they shift away from being an exclusively generic drug company, but also, because of their re-focused R&D efforts, they were able to develop a branded drug aimed at treating Gout — the particularly painful variant of arthritis — that was projected to make billions of dollars over the coming years.
By unhooking from their old way of doing business, revealing a path to breakthrough, and implementing a multifaceted and diverse action plan, the company experienced both internal and external transformations.
As an interesting side-note: After our engagement with the client ended, a large, multinational pharmaceutical firm purchased the company, exclusively because of the fore-mentioned drug that was developed to treat Gout. This R&D breakthrough had an enormous impact on what had been a small, family-owned firm with serious cultural issues that prevented them from accomplishing their goals.
Not only was the science behind our strategy sound — which facilitated the transformation desired from the outset of our partnership — but it also lead to a pharmaceutical breakthrough that would be able to help millions around the world that suffer from a particularly painful affliction.