Creating Competitive Advantage through Social Impact in Healthcare

📚 Shared value is a concept that can fundamentally change the trajectory of healthcare and save the pharmaceutical business model.

🌍 Addressing social issues through business can create a competitive advantage and contribute to global health.

💼 Understanding the dynamics of the healthcare system is crucial for companies to make a difference in the lives of patients.

📝 Shared value is a complementary approach to corporate social responsibility that focuses on solving social problems through core business activities, enhancing competitiveness and societal conditions.

🌍 The potential for scale is the magic component of shared value, as it allows companies to address social problems at a larger scope, unlike traditional donation-based approaches.

💰 Shared value challenges the notion that all profit is equal, as it emphasizes the creation of economic and societal value by using capitalism as a force for positive change.

🌍 Access to essential medicines is limited in countries like India and Africa, with 50% of the population lacking access.

💊 Pharmaceutical companies have responded to these issues through philanthropic efforts and drug donations.

💡 Companies are exploring new business models to address the challenges, including focusing on emerging markets, collaborating with the private sector, and embracing shared value approaches.

🌍 Addressing local healthcare environments to improve access and quality of medical products.

💡 Companies can play a role in advocating for regulatory protocols and national guideline development.

💼 Examples of companies creating competitive advantage by addressing social issues through their business.

📦 Novartis entered India with a portfolio of products specifically designed for the low-income population.

💡 Novartis faced challenges in distribution and infrastructure, but overcame them through innovative solutions.

💼 Novartis's success in India has led to potential partnerships and expansion into other underserved markets.

🔑 Companies can create competitive advantage by addressing social issues through their business.

💰 Addressing social issues can lead to economic outputs and cost savings.

🌍 China presents a significant market opportunity for addressing social issues through business.

🔑 Companies can create competitive advantage by addressing social issues through their business.

⚙️ Innovation, learning, and experimentation with business models are crucial, especially in the pharmaceutical industry, and require patience.

📊 Measurement is important, especially in understanding the impact on both social and business aspects of a company.

🌍 Identifying unmet health needs and improving health systems require new skills and partnerships with unconventional relationships.

🔮 Continued work and innovation in business models can lead to significant changes in the way health is approached.