In a context of significant industry restructuring, cost-cutting and patent expiries, 26 of the world’s top pharmaceutical companies have managed to grow their top-line revenues by more than 50% over the last 5 years. Some of the companies have achieved this growth highly profitably, some have sacrificed profits to grow top-line revenue. Some have invested heavily in R&D, some have chosen to avoid heavy R&D investment. So what can we learn from their diverse successes? In this paper we identify the 26 top-growing companies and classify them into three segments to illustrate the contrasting dominant strategic philosophies that have been applied to achieve business growth. We explore the success stories of selected companies within each of the three segments, and then conclude by examining the common theme that we believe has had a key role in driving business growth: that of ‘bespoke strategy’.
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We have worked collaboratively with Novasecta over many years across a range of strategic topics. I have particularly valued how they really understand and care about our business, and how they manage to apply their deep industry insights to our context. This has brought my Management Team and Board to clarity and alignment on practical strategic moves at important moments in our evolution as a company.Kjetil Hestdal