February 2014, Year VI, n. 2
Don’t use the crisis as an alibi: it will reward you.
Telos: You were country President for Novartis in Greece before taking charge here in Italy. We would be interested in learning more about this experience: how was it like to run a major pharmaceutical company in the midst of such a severe economic, financial and political crisis?
Georg Schroeckenfuchs: The most important aspect of managing such a critic situation was to adopt the right approach, meaning, not to use the crisis as an excuse for not being able to perform: each single crisis – no matter how severe it is – opens up new opportunities to be successful. Indeed, it is far too easy to say that no achievements can be obtained because the country is in a severe economic crisis: as a matter of fact, an economic crisis exacerbates the difference between the efficient and the inefficient economic actors ... more
Although the public at large may ignore it, the pharmaceutical industry is at a turning point. The curtain is rapidly coming down on the age of the blockbuster drugs developed to cure common medical problems. In the last few years, the fact that many patents of blockbuster drugs were all expiring at the same time caused a sharp decline in revenues ... more