The drugs are not working.
Unprecedented generic competition, growing price pressure, a looming 2010-12 patent cliff and stagnant research productivity spells hard times for the $700 billion-a-year drugs industry.
That's forcing companies to review the way they do business -- and the arrival of a younger generation of chief executives in many boardrooms is set to spur the strategic overhaul.
"I'd be very surprised if they don't take the opportunity to make some radical changes because everybody recognizes that the old model is not sustainable," said Simon Friend, global pharmaceutical leader at PricewaterhouseCoopers.
More from Ben Hirschler at Reuters
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