ABSTRACT
Developing new pharmaceutical products has become increasingly challenging due to rising costs, increased complexity in the types of drugs, and changing patient demands. To address these issues, this chapter identifies the emerging management practices shaping the pharmaceutical industry from early drug discovery to supply chains. Synthesizing industry reports from top consulting firms and academic publications in drug development journals, the chapter explores the internal and external management needed to adapt to the changing landscape in developing and manufacturing innovative pharmaceutical products. With respect to the internal activities to aid firms’ innovation processes, agile methods were highlighted; with respect to engaging with external organizations, FAIR data management was explored. The implications of these trends were then identified for different actors within the life science ecosystem, including large pharmaceutical companies, biotech startups, and academia.
