Healthcare Recruiting Professionals from Berke Executive Search Explore the Branded Pharmaceutical Sector
As healthcare recruiting professionals at Berke Executive Search, we strive to set ourselves apart from our competition by maintaining new, relevant knowledge of medical industry trends.
Branded Pharmaceuticals are the largest segment of the Pharmaceutical Industry and dwarf the other sectors of Pharma and Life Sciences. As we cover Biotech as a separate business segment, we are referring here to small molecule drugs produces by chemical synthesis. Branded drugs were the basis of the drug industry, and despite the rapid growth of Biologics, small molecule drugs still dominate the market dollar value. Given the importance of this sector, Berke spends a significant amount of time analyzing news and developments that impact clients in this space.
Over the last decade, there has been a significant number of large acquisitions, such as Pfizer/Wyeth and Merck/Schering Plough, that have rocked the industry and created a large displacement of executives. Berke helped to place many of these executives in smaller Pharma, Biotech or the growing Pharma Services sectors. Consolidation in the industry continues and is expected to do so through the next decade. Despite creating turmoil for some, opportunities arise for competitors and smaller, growing companies to access talent they might not otherwise see.
The Branded Pharmaceuticals Sector
In the United States, chemically –derived drugs are created after intensive pharmaceutical research and development trials are conducted on humans, as well as animals. The industry is heavily dependent on the development of new molecules that will replace older drugs, thus increasing revenue. Although many large multinational companies produce the majority of pharmaceuticals, each and every one of these products has to go through a process of research and development, which is ultimately conducted within the United States. Consequently, pricing of pharmaceuticals is designed to cover R & D expenditures in the U.S.
According to the World Health Organization, the branded pharmaceutical market earns $300 billion a year internationally. By 2017, this figure is expected to rise to approximately $400 billion. One-third of this market is controlled by 10 large companies (6 in the states, 4 in Europe). If the market continues on the same pattern, Japan, North America, South America, and Europe will account for 85% of the world’s pharmaceutical industry into throughout the 21st century. Current trends that may affect this rate include anything from chronic diseases straining the healthcare budget, a demand for more medicines, and the government’s focus on prevention instead of treatment.
The Berke team places executives across the continuum from drug discovery to product marketing and more. These are all equally critical to the success of a Pharmaceutical company. Moreover, having the right talent leading these functions is key. Accelerating a product approval by a day can mean millions of dollars for a blockbuster drug.
The emerging markets are viewed as the next avenue for the growth of the Pharmaceutical Industry. Factories are springing up in China, Eastern Europe, India, Brazil and many others. Branded Pharma is truly a global industry and Berke is capable of performing searches on a global basis.
At Berke Executive Search, our healthcare recruiting solutions involve constantly updating our knowledge of changes to the branded pharmaceutical industry. These and other initiatives ensure that Berke Executive Search recruiters are at the forefront of healthcare recruiting. Contact a Berke team member to end your search for the best talent for your organization at The Team.