Summary and Recommendations (Chapter Eight)
Personalized medicine has arrived, and its impact has only begun to be felt across the healthcare ecosystem. In this article, we have illustrated how personalized medicine is likely to change the pharmaceutical industry, historically one of the riskiest yet most profitable parts of the healthcare ecosystem.
When one contemplates the complexity of the future environment it becomes quite clear that existing discovery, development, regulatory, sales & marketing, and reimbursement frameworks are nowhere near prepared for the changes coming with personalized medicine.
Since so many pharmaceutical company processes will be disrupted by personalized medicine, it is important that companies take a proactive, top-down approach to prepare for this inevitable change. It is imperative that senior executives from the traditional silos of R&D and commercial operations develop a common understanding of the changes ahead, so a cohesive strategy and set of action items can be implemented across the entire corporation. If not, the pharmaceutical company runs the risk that each function and therapeutic business unit will develop its own, unaligned set of strategies and actions to address personalized medicine.
*NOTE: The author would like to thank Coline David, Ellen Goldberg, and Tom Komenda for contributing to this article.
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