Berkeley Heights, NJ, April 06, 2020 (GLOBE NEWSWIRE) -- Axtria, a global leader in cloud software and data analytics for the life sciences commercial business, released a research paper exploring in-depth the economic effects of COVID-19 on the pharmaceutical industry. The research paper – "How Will the Coronavirus Pandemic Affect the US Pharmaceutical Industry?" – is among several Axtria publications and webinars slated for release on the pandemic's life sciences industry impact.
The data analytics giant published the piece on Axtria Research Hub - a library of Axtria leadership insights and perspectives from which the public can learn. Through this research paper and Axtria's proceeding COVID-19 content, pharma companies can better understand the changing landscape. Moreover, they can plan to adapt their operations for success ahead of potentially devastating after-effects.
Research Paper Highlights
The coronavirus pandemic outbreak illustrates the inherent risks and uncertainties that are prevalent in the operation of complex and global business, as seen in the pharmaceutical industry. Further, the coronavirus pandemic illustrates the need for companies to have empirical systems in place. Through these systems, companies can act quickly to mitigate the effects of such surprise events when they do occur.
This research paper provides:
- A structured list of how the coronavirus pandemic will affect the US pharma industry in the following areas: (1) demand-side, (2) supply-side, (3) marketing/brand strategy, (4) non-personal promotion, (5) sales force strategy, (6) sales force operations, (7) managed markets/market access, (8) medical affairs, and (9) analytics' role in mitigating future "black swan" events. This non-exhaustive list is likely to change as events continue to unfold, resulting from either the spread or control of the coronavirus pandemic and/or policy reactions and their effects on the outbreak.
- Action steps pharma companies should take in the short-term, medium-term, and long-term in response to the coronavirus pandemic and their impact on commercial operations, with a section devoted explicitly to decisions regarding incentive compensation. Axtria will cover this topic further in-depth in its forthcoming research paper - “Coronavirus Pandemic Effects on Incentive Compensation” – which will be available for download soon.
Download Axtria's Research Paper Today!
During uncertain times, one thing is sure: big pharma companies who arm themselves with knowledge and plan for post-COVID-19 can reduce its negative impact and improve their chances for commercial success.
Click here to access Axtria's research paper and begin preparing for the future.
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About Axtria Research Hub
Axtria Research Hub is a database of research papers offering a wealth of information from Axtria's industry-renowned leadership. Within the papers are executive insights and perspectives on various life sciences topics – from commercial operations, to big data, to the patient journey, to the industry at-large, and everything in-between.
Click here to access Axtria Research Hub and expand your life sciences industry knowledge.
About Axtria
Axtria is a global provider of cloud software and data analytics to the life sciences industry. Axtria helps life sciences companies transform the product commercialization journey to drive sales growth and improve healthcare outcomes for patients. Axtria is acutely aware that their work impacts millions of patients, and they lead passionately to improve patient lives.
Since the company's founding in 2010, technology innovation has been its winning differentiation. Axtria continues to leapfrog the competition with platforms that deploy artificial intelligence and machine learning. Their cloud-based platforms - Axtria DataMAx™, Axtria InsightsMAx™, Axtria SalesIQ™, and Axtria MarketingIQ™ - enable customers to efficiently manage data, leverage data science to deliver insights for sales and marketing planning, and manage end-to-end commercial operations. Axtria helps customers in the complete journey from data to insights to operations. With customers in over 75 countries, Axtria is one of the biggest global commercial solutions providers in the life sciences industry. Axtria continues to win industry recognition for growth and is featured in some of the most aspirational lists - Inc. 5000, Deloitte Technology Fast 500™, NJBIZ Fast 50, SmartCEO Future 50, Red Herring 100, and several other growth and technology awards.
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