The current economic downturn and fluctuating energy costs is hurting everyone. But could the Pharmaceutical sector start the fight back? With ever increasing pressure to bring drugs to market and to assist generic manufactures to deliver cheaper medicines, over 50 of the leading Pharmaceutical companies have just announced a key meeting on how the industry can unite and tackle the current climate. The Next Generation Pharmaceuticals (NGP) Summit will be held early next year at the Four Seasons Westlake Village California and will include the CEO community of Pfizer, GSK, Abbot Labs as well as technology leaders, the FDA and Government officials have also confirmed attendance to ensure that the program will drive immediate value back to their constituencies.
The Pharmaceutical sector in the USA is in the midst of unprecedented transformation. Several factors are driving fundamental change: liberalization and increased competition from Generic developers in growth markets, strategic mergers and acquisitions, regulatory pressure. Discussion will be private looking at key business strategies to fight the economic downturn, but other focuses will be around Manufacturing, Lean Supply Chain, Lead Generation, process & packaging technologies and anti-counterfeiting measures. The pharmaceutical industry will change as a direct result of this summit. All the decisions that will be made require substantial investments and a unity amongst the sector. If this is achieved new innovation could pave the way for cheaper medicine and more jobs within the sector.
