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Wednesday, 11 January 2012 |
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The Life Sciences industry is at a major cross road. The health care system has, for too long, focused on ’blockbuster’ drugs and breakthroughs in expensive procedures to improve patient care globally. There is increasing competition, particularly in crowded diseases markets such as cancer and diabetes treatment. In order to establish and maintain a clear advantage, companies are slowly moving from individual products and medical procedures to a focused approach on improving overall health solutions and outcomes. This shift will require life sciences companies to rely on and partner with other players, including outsourcing crucial components, in the health care ecosystem. Apart from pharmaceutical organizations, other stakeholders in this ecosystem include the government, medical equipment companies, and health care payers and providers.
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