The 2015 PwC pharmaceutical industry survey captures the collective views of the Australian pharma sector and explores the industry's key challenges, trends and opportunities. In recent years, the Australian pharma industry has been characterised by a more competitive market; significant advancements in technology; constrained budgets; major reform; and increasing scrutiny from payers, regulators and the community. This has led to pharmaceutical companies having to reassess their business models to ensure they remain responsive.
Despite some recent positive recent developments such as the Pharmacy Guild's historic 6th five year agreement with government and the development of new life saving and life improving drugs, we still see a system not operating as efficiently or effectively as it potentially could for stakeholders, tax payers, government and patients. However, we do believe that there is a positive path forward for the pharmaceutical industry to evolve through taking advantage of global transformations in both technology and healthcare. To achieve this, the industry will need to re-imagine its traditional role in the market and find a new position in the future business landscape. As an industry founded on innovation and imagination - we believe it can do this.
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