ABSTRACT
Potential congressional action is the latest but certainly not the only factor contributing to chaos in what had long been a stable, profitable industry, seem ingly immune to the normal pressures of competition. Pharmaceuticals may simply be the last sector of the U.S. economy forced to acknowledge that its old model of competition-the search for and exploitation of blockbuster
drugs-is no longer a viable market strategy for many if not the majority of firms. This chapter explores the urgent need for pharmaceutical executives to redefine their strategic and operating model in order to sustain their firms into the twenty-first century.
