Introduction

Leonard Lerer and Mike Piper

Chapter Chapter 1 in Digital Strategies in the Pharmaceutical Industry, 2003, pp 3-8 from Palgrave Macmillan

Abstract: Abstract In less than a decade, it has been possible to witness digital technology1 in the pharmaceutical industry traverse almost a full circle from the first tentative steps with sophisticated computing, websites and portals, the fears of competition and powerful intermediaries, the dotcom hype, the disillusionment of the dashed Internet dream and, more recently, the cautious exploration of new approaches and technologies such as e-R&D, e-detailing and CRM (customer relationship management). The astute observer will see many parallels between the pharmaceutical industry’s relationship with digital technologies and its approach to biotechnology. In the early 1980s, when biotechnology began to show great promise, many pharmaceutical companies adopted a wait-and-see position. At that time, some experts predicted that biotechnology start-ups signalled the beginning of the end of the multinational pharmaceutical company. At the start of the twenty-first century, we find the global pharmaceutical industry still flourishing, some biotechnology giants and a myriad of smaller companies still dependent on mainstream pharmaceutical companies for financial support and the ultimate commercialization of their innovative products. During the dotcom boom, most pharmaceutical companies made tentative investments in establishing e-business structures, but no single organization committed itself to complete transformation into a virtual or e-driven company.

Keywords: Pharmaceutical Company; Digital Technology; Customer Relationship Management; Pharmaceutical Marketing; Digital Strategy (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59879-9_1

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DOI: 10.1057/9780230598799_1

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