Competition is fierce, especially for small businesses who do not only have to compete against other smaller businesses but also against big pharma giants.
Let’s have a look at how small teams can outperform bigger competitors:
#1 Look for Untapped Markets
Find opportunities in the form of untapped markets. Big corporations are often not able to enter new markets due to legal issues and other such constraints. This can give you a good opportunity to shine and make a mark for yourself.
#2 Avail Opportunities as They Come
Small teams take time to grow. If you are focused, you will have the attention of bigger companies.
According to recent reports, large manufacturers are looking for promising ideas by small pharma companies to treat NASH, a disease that is expected to be the number one cause of liver transplants in a few years.
“We are actively looking on the outside for opportunities… to complement our internal program,” said Pfizer’s CSO Morris Birnbaum.
Such opportunities can help smaller companies to make an impression. It is important to continue to invest in R&D to create useful patented drugs.
#3 Find Your Competitive Advantage
There are many advantages of doing business in the US. First of all, the prices are not regulated. The inventor of a patented drug has the option to charge higher prices in the US to cover costs and to defeat competition in other markets by offering the product at a lower rate there.
Similarly, businesses can reduce the price to attract more customers. Small businesses do not yearn for big profits, which can help them compete against bigger competitors.
#4 Have the Right Partners
All pharma companies need the support of partners to market their products and reach every corner. Logistics play a very important role in this regard.
You should work with a company that promises quick and safe delivery of drugs. This will not only help reduce costs but also give you an edge over competitors.
At Carrymed, we understand the power of small businesses and bring years of experience to complement the product cycle. We are a pharma transport company providing quick and safe logistic services for temperature-sensitive pharmaceuticals.
One person with high decision authorisation is assigned to take care of acquisition, communication and supervision of each shipment.
We understand your requirements and will provide you with customised services to ensure you can continue to grow in the right direction.
Get in contact today to speak to one of our agents to know more about how our services can help your pharma business make an impression.