For this U.S.based division of a large Japanese drug company with 2,500 employees and $2 billion dollars in annual revenue, their window of opportunity had a very narrow opening. Amid several tepid product launches, executives were forecasting a $150MM shortfall with the imminent loss of patent exclusivity on a number of key brands. However, if they could get two key products to market faster than competitors, they stood to significantly increase revenues, profits and patient satisfaction.
Kotter was hired to help build strategic agility, leadership and flexibility such that they could accelerate the achievement of their strategy. The objective was clear: execute two drug launches flawlessly to capitalize on first-to-market advantages—the result of which led to a $450M positive delta in plan. The organization was able to develop a different way of operating that overhauled the way they brought new drugs to market, demystifying several compliance processes that were essential. New ways of collaborating emerged. People were developed - thoughtfully and deliberately. Permission to test bold thinking was given as unprofitable activities and products were purged.
