TABLE OF CONTENTS
1. Background 2. Industry Analysis 3. Internal Assessment 4. Strategic Initiatives 5. Product Management Implementation KPIs 6. Product Management Best Practices 7. Product Management Deliverables 8. Accelerate Drug Development Cycle 9. Expand into Emerging Markets 10. Enhance Patient-Centric Product Management 11. Additional Resources 12. Key Findings and Results
Consider this scenario: A leading pharmaceutical company specializing in oncology treatments faces challenges in product management due to an increasingly competitive landscape, with a 20% decline in market share over the past 2 years.
Internally, the organization struggles with slow drug development cycles and regulatory approval processes, while externally, it contends with fierce competition from generic drug manufacturers and evolving healthcare regulations. The primary strategic objective of the organization is to enhance its global market penetration while streamlining drug development and approval processes to regain market leadership in the oncology sector.
The pharmaceutical industry, particularly in the oncology segment, is at a critical juncture characterized by rapid innovation but also significant regulatory and market-entry barriers. Acknowledging the complex ecosystem, this plan scrutinizes the underlying factors impeding growth and proposes a strategic roadmap tailored for the executive leadership of a pharma company focused on oncology.
Emergent trends in the oncology pharmaceutical industry include personalized medicine, increased use of biologics, and a shift towards patient-centric care. These trends indicate major changes in industry dynamics, presenting both opportunities and risks:
Global regulatory environments, evolving healthcare policies, and technological advancements in drug development and delivery systems are external factors that present both opportunities and risks for the oncology pharmaceutical sector.
For a deeper analysis, take a look at these Industry Analysis best practices:
The organization has established a strong reputation for innovative oncology treatments, supported by a robust R&D pipeline and strategic partnerships. However, inefficiencies in the drug development process and challenges in navigating regulatory landscapes weaken its competitive stance.
SWOT Analysis
The company's strengths lie in its dedicated oncology R&D focus and global operational footprint. Opportunities exist in leveraging emerging technologies to expedite drug development and in expanding into emerging markets. Weaknesses include slow time-to-market for new drugs and reliance on a small number of blockbuster treatments. External threats encompass regulatory uncertainties and intense competition from both branded and generic drug manufacturers.
McKinsey 7-S Analysis
Alignment issues between strategy, structure, and systems have been identified as key impediments to agility and efficiency. Strengthening shared values and enhancing skills, particularly in regulatory affairs and market access, are critical. Simplifying internal processes and fostering a more collaborative culture could unlock significant performance improvements.
Distinctive Capabilities Analysis
The organization's distinctive capabilities in oncology R&D provide a competitive edge, but maximizing this advantage requires addressing gaps in operational efficiency and market responsiveness. Enhancing capabilities in digital health technologies and patient engagement strategies will be vital for sustaining long-term leadership in the oncology sector.
KPIS are crucial throughout the implementation process. They provide quantifiable checkpoints to validate the alignment of operational activities with our strategic goals, ensuring that execution is not just activity-driven, but results-oriented. Further, these KPIs act as early indicators of progress or deviation, enabling agile decision-making and course correction if needed.
Monitoring these KPIs will provide insights into the effectiveness of strategic initiatives, enabling timely adjustments to strategies and operations. Success in these areas will be critical for achieving the company's strategic objective of enhancing its global market penetration while streamlining its drug development and approval processes.
For more KPIs, take a look at the Flevy KPI Library, one of the most comprehensive databases of KPIs available. Having a centralized library of KPIs saves you significant time and effort in researching and developing metrics, allowing you to focus more on analysis, implementation of strategies, and other more value-added activities.
Learn more about Flevy KPI Library KPI Management Performance Management Balanced Scorecard
To improve the effectiveness of implementation, we can leverage best practice documents in Product Management. These resources below were developed by management consulting firms and Product Management subject matter experts.
Explore more Product Management deliverables
The organization adopted the Critical Path Method (CPM) and Value Stream Mapping (VSM) to streamline its drug development cycle. CPM, a step-by-step project management technique, was instrumental in identifying the longest stretch of dependent activities and measuring the time required to complete the project from start to finish. This framework proved invaluable for optimizing timelines in complex, multi-stage drug development processes. VSM, on the other hand, helped the organization visualize the flow of materials and information required to bring a drug from concept to market, highlighting inefficiencies and opportunities for streamlining.
Using these frameworks, the team:
The integration of CPM and VSM frameworks into the drug development cycle led to a significant reduction in time-to-market for new oncology treatments. By pinpointing and addressing inefficiencies, the organization was able to accelerate its drug development process, resulting in faster clinical trial initiation and earlier regulatory submission and approval.
To effectively expand into emerging markets, the organization employed the Market Expansion Grid (also known as the Product/Market Expansion Grid) and the Resource-Based View (RBV) of the organization. The Market Expansion Grid provided a strategic framework for identifying and evaluating potential markets by examining existing and new markets as well as existing and new products. This approach was critical for prioritizing markets with the highest potential for oncology treatments. The RBV framework, focusing on leveraging internal resources and capabilities to achieve a competitive advantage, supported the decision-making process regarding how best to enter and compete in these new markets.
Following this strategic direction, the organization:
The application of the Market Expansion Grid and RBV frameworks facilitated a strategic and resource-efficient expansion into emerging markets. This led to successful market entries with optimized product offerings and marketing strategies that capitalized on the organization's existing strengths, resulting in significant growth in market share and brand recognition in these new regions.
In its effort to refocus product management towards patient-centricity, the organization embraced the Jobs to be Done (JTBD) theory and the Service-Dominant Logic (SDL). JTBD provided a framework for understanding the specific outcomes that patients sought in their treatment journeys, beyond the traditional features and benefits of oncology drugs. This perspective shift was crucial for developing treatments and services that truly resonated with patient needs and expectations. SDL, emphasizing the co-creation of value through service, guided the organization in designing and delivering healthcare solutions that engaged patients as active participants in their care.
The organization proceeded by:
The adoption of JTBD and SDL frameworks transformed the organization’s product management approach, leading to the development of more patient-centered oncology treatments and services. This strategic shift not only enhanced patient satisfaction and outcomes but also strengthened the company’s competitive position by differentiating its offerings in a crowded market.
Here are additional best practices relevant to Product Management from the Flevy Marketplace.
Here is a summary of the key results of this case study:
The strategic initiatives undertaken by the organization have yielded significant results, marking a successful shift towards enhanced global market penetration and streamlined drug development processes. The reduction in time-to-market for new treatments by 20% is particularly noteworthy, as it directly addresses the critical challenge of slow drug development cycles. The growth in market share in emerging markets by 15% demonstrates effective market expansion strategies, capitalizing on the organization's strengths. Additionally, the 25% improvement in patient satisfaction underscores the success of the patient-centric approach. However, the results also highlight areas for improvement. The focus on emerging markets and patient-centric product management may have diverted resources from further optimizing operational efficiencies and exploring alternative therapeutic areas. Moreover, the reliance on specific frameworks, while beneficial, may have limited the exploration of more innovative or disruptive market entry and development strategies.
Based on the analysis, the recommended next steps include a dual focus on consolidating gains in emerging markets and further enhancing operational efficiencies. Specifically, the organization should explore partnerships or acquisitions to accelerate entry into new therapeutic areas, diversifying its oncology portfolio. Additionally, investing in next-generation technologies, such as blockchain for secure patient data management and AI for predictive analytics, could further streamline drug development processes and enhance patient engagement strategies. Continuous monitoring and adaptation of the strategic initiatives in response to market feedback and technological advancements will be crucial for sustaining long-term leadership in the oncology sector.
Source: Product Management Strategy for Oncology Pharmaceutical Company, Flevy Management Insights, 2024
Leverage the Experience of Experts.
Find documents of the same caliber as those used by top-tier consulting firms, like McKinsey, BCG, Bain, Deloitte, Accenture.
Download Immediately and Use.
Our PowerPoint presentations, Excel workbooks, and Word documents are completely customizable, including rebrandable.
Save Time, Effort, and Money.
Save yourself and your employees countless hours. Use that time to work on more value-added and fulfilling activities.
![]() |
Download our FREE Strategy & Transformation Framework Templates
Download our free compilation of 50+ Strategy & Transformation slides and templates. Frameworks include McKinsey 7-S Strategy Model, Balanced Scorecard, Disruptive Innovation, BCG Experience Curve, and many more. |