New delivery systems provide an opportunity for drug companies to repackage tried-and-true drugs and regain market exclusivity based on the innovative delivery process. That is what Google is doing with Google Glass. Glass delivers existing products, like mobile telephony, the Internet, global positioning systems and more, through a new, wearable system. In this case, Google is applying new technology to enhance the effectiveness of existing technology, something big pharma rarely does.(...)
The point is that corporations like animal species, must adapt or die. The business world is replete with examples of corporations that failed to adapt and are no longer in existence. Western Union telegrams, Woolworth’s five and ten-cent stores, Sharper Image stores and Commodore computers are just a few examples of once successful dominant businesses that failed because they became stagnant and were overtaken by competitors. Companies using new technology and evolving marketing techniques to capture markets and displace predecessors, like Wal-Mart in retailing, Zappos in footwear, Volkswagen in cars, and others, were late entrants into existing markets but eventually surpassed their competitors.
Big pharma, beware, the same could happen to you. (Más)