As competition intensifies and payors restrict reimbursement, more pharmaceutical, biotech, and medical product companies are trying to maximize profits through operational improvement. But their efforts are often complicated by the increasing complexity of the healthcare landscape, such the shift of manufacturing to low-cost countries and the need for more intricate supply chains to meet growing demand in emerging markets.
McKinsey has decades of experience in all aspects of pharmaceutical operations, allowing us to help clients identify opportunities for revenue enhancement, efficiency improvement, and cost reduction throughout the entire production cycle. Over the past five years, we have served pharmaceutical, biotech, and medical product clients in more than 850 operations engagements, giving us a detailed understanding of all industry trends and challenges. We take a hands-on approach to working with clients, creating practical strategies that generate bottom-line impact. To sustain long-term improvement, we emphasize helping clients build their internal capabilities, providing tailored training programs for all organizational levels. We also have developed a set of tools and databases specifically for pharmaceutical operations, focusing on benchmarks in manufacturing cost, productivity, supply chain, purchasing, procurement and quality performance.
For more details about our expertise, please visit the Operations Practice page.
Our work covers six main areas below.