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The Value of Scale in Pharma's Future

Executive Summary

Despite the increasingly common perception of the helpless mega-merged giant, vastly increased scale can provide such companies with significant competitive advantages, from which companies were unwilling or unable to benefit in the past. The largest companies, structured properly, should be able to discover disproportionately more compounds; develop them faster; and market them more successfully. But to reap these benefits, the super heavyweight pharmas will, paradoxically, have to learn how to think small.
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