Abstract
The European branded pharmaceutical industry is experiencing the most challenging business environment in years. As in other pharma markets in the world, the marketplace is increasingly difficult for the leading players. Generic attacks, parallel imports, meagre pipelines and patent challenges all affect the traditional business model. This paper focuses on the European pharmaceutical market in particular and explores the most recent changes within the regulatory environment that affect pharmaceutical companies. The paper depicts the increasing complexity of the network of influencers and concludes by looking at how pharmaceuticals companies can adapt to the changing conditions through the application of customer-centric interaction strategies. Sales and marketing will no longer be focused on a relatively small (and sceptical) group of customers, but will have to learn how to interact with other stakeholders such as payers, patients, nurses and pharmacists.
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