It’s imperative to respond to new market dynamics and downward cost pressures. But this presents a challenging conundrum for life sciences companies. Globalization creates new opportunities but increases competitive pressures. Competition from generics is growing, as patents on blockbuster drugs expire. Big swings in global demand and broader regulatory oversight create even more challenges.
Life sciences companies must look to IT to help shape their business strategies and drive innovation. To achieve this goal, IT executives need to understand business goals and create strong partnerships between IT and business units. By evolving their IT models and systems to be more agile, companies can make it easy to work together across their ecosystems, sustain a competitive edge, meet regulatory and privacy requirements, leverage global economies of scale and support business innovation.
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