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Surviving as a niche player in the pharmaceutical industry: Reflections from the field
Author(s) -
Jorgensen Stig,
Jensen Ivan,
Edwards Martin
Publication year - 1993
Publication title -
drug development research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.582
H-Index - 60
eISSN - 1098-2299
pISSN - 0272-4391
DOI - 10.1002/ddr.430300303
Subject(s) - niche , field (mathematics) , pharmaceutical industry , economic geography , business , geography , ecology , biology , microbiology and biotechnology , mathematics , pure mathematics
The pharmaceutical industry can be divided into a top tier of about 30 major league companies and a second tier (minor league) comprising several thousand. This paper focused on the second tier and the particular challenge of minor league companies—especially niche players—to balance operating requirements and strategic ambitions within limited and limiting resources. In the authors' experience, survival as a niche player requires not only that the company stays on the technology frontier but also that risk willingness and innovative behavior be characteristic of managers' mindset. To this end, the authors share 13 “ground rules” to perform appropriately as a niche player. © 1993 wiley‐Liss, Inc.