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#2 Multi National Pharmaceuticals Company-Project A

The Situation:

The company was experiencing greater than industry standard drug compound attrition in mid to late stages of development, thus costing the company hundreds of millions of dollars in revenue, and potentially enabling competitors to be first to market with similar pharmaceuticals.

The AdVantage Consulting Solution:
Change Management

A cross-functional task force was formed to scientifically analyze the causes of the compound failures. At the same time, another sub-task force was formed to create an implementation strategy that would ensure successful execution of the team’s solutions to the attrition problems. Working with senior leadership at each of the company’s research and development sites, a series of plans were developed that would be consistent with the cultures at the various sites. Change Management and implementation plans were created and coordinated across the company’s worldwide sites.

Additionally, a robust communication strategy was created to educate leadership and colleagues about the reasons for the initiative, the findings and implications for the company, and the responsibilities that each site must shoulder in order to make the overall implementation plan a success.

The Results:

The findings and implementation plans were accepted by senior leadership of the company, as well as leadership at the various sites. Anticipated savings will be approximately $150 million per marketed new drug.