Strategies for Entering the Pharma Industry
If government bureaucracies cause you to break out, this might not be the field for you. But if you understand the true value of speaking the language of an industry, then consider the following four strategies to access the pharma sector.
1. Enlist the help of an industry veteran. If you’re going to invest in entering the industry, you’re going to need a specialist with extensive pharma experience. Wandering into a regulatory jungle without a guide will only get you lost. Find a veteran in the field, otherwise don’t bother.
2. Employ tools like ROBAR. Innovatum’s software manages the entire labeling lifecycle. Its primary features include ensuring the launch, format, and barcode are correct. It’s an incredible piece of software, developed after years of working with the top pharmaceutical companies. The point here is not to convince you to buy ROBAR. It’s to make you aware of the kinds of technology solutions you’ll need to invest in to be competitive in the field.
3. Think quality. Our posts on lean operations might have seemed like a luxury to a printer just trying to fill orders, but in this business it’s essential. You’re going to need to structure yourself to ensure quality and compliance with ongoing regulations.
4. Consider an M&A as a means to enter. If you want to pursue entry into the pharma industry, maybe reinventing the wheel isn’t worth your time or money. A merger and acquisition with an established player might be the fastest way to gain entry.