big pharma turnaround story

Well, it might refer to a big pharma firm that was on the verge of failure. Maybe it had some failed drug trials in the past which led to financial losses. But then, through strategic mergers and acquisitions, it got access to new technologies or drugs in development. It could also be that they re - focused their research efforts on emerging health trends, like personalized medicine, and that led to their turnaround.

Merck is also a good case. It had some setbacks with drug development failures. But then it had a major success with drugs like Keytruda. This immunotherapy drug became a huge hit in the cancer treatment market. Merck's investment in research for Keytruda and its subsequent marketing and distribution strategies led to a significant turnaround in its business fortunes.

The 'big pharma story' is a complex one. Big pharma companies are major players in the healthcare sector. They invest a great deal in research to find cures for diseases. However, there are aspects that are often debated. Their profit - making motives can sometimes clash with the need for affordable healthcare. For instance, some drugs are priced exorbitantly, making them inaccessible to a large part of the population. There are also stories about their influence on medical research, whether they prioritize drugs that are more profitable rather than those that are most needed in terms of public health. Additionally, their lobbying power with governments and regulatory agencies is another part of the story, as this can impact policies related to drug approval and pricing.

An interesting part of the 'big pharma story' is their marketing. They use various strategies to promote their drugs, which can sometimes be a bit over the top.

Citigroup also had a significant turnaround. It faced serious issues during the financial turmoil. It started by divesting non - core assets. It then worked on restructuring its operations, enhancing its compliance systems, and rebuilding customer trust. Over time, it was able to turn its fortunes around and become a more stable financial institution again. For example, by streamlining its global operations, it could reduce inefficiencies and allocate resources more effectively.

Visionary leadership is a key element. In Apple's case, Steve Jobs had a clear vision of creating user - friendly and innovative products. Another important aspect is adaptability. Netflix adapted to the changing technological landscape from DVDs to streaming. And for Starbucks, product innovation like new coffee blends and drinks played a crucial role.

In the automotive industry, there was a car model that was not selling well due to poor fuel efficiency and outdated design. The engineers redesigned the engine for better fuel economy and gave the car a modern, sleek look. They also improved the safety features. As a result, the car's sales increased significantly. In a similar way, in a software startup that was on the verge of shutting down because of bugs and a bad user interface, the engineers fixed the bugs, made the interface more user - friendly, and managed to attract new customers, leading to a big turnaround.

Engineers can engineer big turnaround stories by first identifying the root problems. They need to conduct in - depth analysis of the situation, like studying data and processes. For example, in a failing manufacturing project, they might find that the machinery is outdated. Then, they can come up with innovative solutions. This could involve implementing new technologies or redesigning the production line. They also have to collaborate effectively with different teams such as the management, workers, and suppliers to ensure the turnaround plan is executed smoothly.

Another example is Netflix. Initially, it was a DVD - by - mail rental service. However, as the digital streaming trend emerged, Netflix made a huge turnaround. It shifted its focus to online streaming, invested in creating original content like 'Stranger Things' and 'House of Cards'. This move made it a global entertainment giant, leaving behind its traditional DVD - rental model.