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Hay Group: Leadership Must Push Decision-Making; Preserve Patient-Focused Culture

July 19, 2011

Growth is a wonderful thing. But it raises issues that can keep stakeholders and executives in today’s burgeoning midcap (i.e., a company with a market capitalization between $1.5 and $10 billion) pharmaceutical companies uneasy at night, the Hay Group reported.

The Hay Group says growing an organization through its stages of development is a tricky proposition. When that organization is a midcap pharmaceutical company, for example, usually started from scratch, initially focusing on raising capital and advancing its R&D efforts, and led by entrepreneurs — the challenges of growth gets more complicated. Adding to these challenges are the uncertainties of the global economy, as well as regulation and health reform in the United States.

Recent interviews with operational and human resources leaders in four growing midcaps confirmed what our considerable experience with midcap pharmaceutical companies has told us: Leadership that pushes decision making down to the right levels, preserves a patient-focused culture, and focuses on people on an organization’s critical priorities is the greatest source of advantage for shareholders, the Hay Group reported.

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