Time to fix pharma’s outdated business model

The disconnect between payers and pharma companies is just one symptom of pharma’s outdated business model, according to Janssen’s company group chairman EMEA, Kris Sterkens. pharmaphorum spoke to him about the challenges facing big pharma and the importance of engaging with patients.

Janssen’s EMEA chairman Kris Sterkens is forthright about the industry’s failings – in an interview with pharmaphorum at this year’s eyeforpharma conference in Barcelona he urged the rest of the industry to start integrating views of stakeholders into its business model and adapting to the challenges of the digital age.

According to Sterkens, the ongoing issues with pricing bodies across the world are just one example of where things are going awry because industry is relying on an outmoded business model.

Sterkens said the evidence available from a range of organisations is unequivocal – the business model pharma has been relying on for years is outdated.

• Read the full article in pharmaphorum's Deep Dive digital magazine here