Stakeholder management

| Point of View

Effective interaction with stakeholders is critical to drug commercialisation

the relative importance to the pharmaceutical industry of different stakeholder groups is shifting dramatically, with payers, government, standards bodies and patients becoming more influential relative to the physicians and key opinion leaders (KOLs) who once wielded so much power. For continued profitability and competitive advantage, companies need to get to grips with these changing dynamics and manage their stakeholder groups effectively, taking into account both their relative levels of influence and their needs. A stakeholder evaluation is a useful starting point, as client successes prove.