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Transformation of Value in Innovative Business Models: The Case of Pharmaceutical Market

Author

Listed:
  • Denis Klimanov

    (National Research University Higher School of Economics)

  • Olga Tretyak

    (National Research University Higher School of Economics)

  • Uri Goren

    (Teva Pharmaceuticals)

  • Timothy White

    (Teva Pharmaceuticals)

Abstract

Creating and developing innovative business models (BM) is currently one of the key success factors for contemporary business. Rapid complex changes in the world reemphasize the need to better understand how BM can be successfully innovated in different markets. The digital component of BM innovation comes under a special spotlight, using the example of a company within the pharmaceutical industry. In particular, this study demonstrates how BM innovation can be developed and implemented in practice within the pharmaceutical market, which accelerates its digital transformation to increase the value it brings to the healthcare systems around the world while sustaining the ongoing crisis. In order to do that, the current paper offers a framework for BM innovation that defines BM elements, BM innovation aspects, and BM innovation logic. The study covers six markets that represent different value creation systems and mechanisms. This paper demonstrates how technological innovations can be activated using managerial tools and insights and also how they can be combined into the holistic system based on the needs of the key value chain actors.

Suggested Citation

  • Denis Klimanov & Olga Tretyak & Uri Goren & Timothy White, 2021. "Transformation of Value in Innovative Business Models: The Case of Pharmaceutical Market," Foresight and STI Governance (Foresight-Russia till No. 3/2015), National Research University Higher School of Economics, vol. 15(3), pages 52-65.
    • Handle: RePEc:hig:fsight:v:15:y:2021:i:3:p:52-65
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    File URL: https://foresight-journal.hse.ru/data/2021/10/11/1472640015/4-Klimanov-52-65.pdf
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    Citations

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    Cited by:

    1. Vítor João Pereira Domingues Martinho, 2022. "Impacts of the COVID-19 Pandemic and the Russia–Ukraine Conflict on Land Use across the World," Land, MDPI, vol. 11(10), pages 1-14, September.
    2. Angelos I. Stoumpos & Fotis Kitsios & Michael A. Talias, 2023. "Digital Transformation in Healthcare: Technology Acceptance and Its Applications," IJERPH, MDPI, vol. 20(4), pages 1-44, February.
    3. N. I. Markov, 2023. "Analysis of Competition and Domination in the Market of Biologically Active Supplements in Russia," Studies on Russian Economic Development, Springer, vol. 34(5), pages 640-650, October.

    More about this item

    Keywords

    business model; innovation; transformation of value; corporate strategies; pharmaceutical market; case studies;
    All these keywords.

    JEL classification:

    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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