New outlook for a New Year: Refocus your forecasting strategy

“Bankruptcies”, “job losses” and “falling sales figures” are words that are now part of our every day vernacular. The credit crunch of 2008 is ongoing, well discussed and much lamented. Within this global crisis there is also the challenging climate that we face within the pharmaceutical industry.

Patent expiries, empty pipelines, the increased use of generics and financial pressures are all negative influences and all of this is enough to make you want make like the cowboys in old westerns and ride off into the sunset. But let’s think positively, maybe – just maybe we are on the cusp of something great.

Sean Davies, General Manager of Ferring (Ireland) recently commented that "Many of the most significant breakthroughs in the Pharmaceutical Industry have come when the world most needs them. Antibiotics for instance, were initially developed to treat battlefield infections and only went into mass production during WWII.

The rapid infection rate of HIV and AIDS focused the Pharma mind and resulted in a large number of anti-viral drugs being developed and allowed Medical Science to introduce the 'triple therapy approach'. Pharma would most certainly be one of 'Darwin's survivors"

So maybe all this doom and gloom will indeed "focus the pharma mind" and lead to more products in the pipeline.  It has never been a better time to reassess your forecasting strategy, and to that end eyeforpharma presents its 3rd Annual Forecasting Excellence Summit in Madrid 20-22 April.

It will provide leading industry speakers presenting real world case studies and in-depth workshops to provide expert analysis to enable forecasters and marketers to forecast more effectively in the future. The event will provide the blue-print for successful forecasting and will be a platform for networking and knowledge sharing for the industry. 

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