Unknown Challenges in Building Businesses: A Guide for Life Sciences Executives
In today’s world, leaders in pharmaceuticals, biotech, and medical technologies are striving to build businesses
Derar Hadri 
In today’s world, leaders in pharmaceuticals, biotech, and medical technologies are striving to build businesses centered on patient needs. However, despite this growing focus, many face critical obstacles that prevent true consumer-centered innovation. Overcoming five key challenges can unlock significant success.
1. Historical Focus Away from Patients
Traditionally, life sciences companies focused on healthcare providers and insurers, not directly on patients. But with technological advancements—like health apps and wearables—consumers are now managing their own health. Innovative brands like Apple Health, Hims & Hers, and Noom have reshaped expectations, pushing life sciences firms to create consumer-centric models.
2. Launching New Consumer-First Ventures
To meet modern demands, life sciences companies are building spin-offs or launching direct-to-consumer services, often bypassing regulatory burdens associated with drugs and devices. Examples include apps for nutrition and platforms offering simplified health education. Failing to adapt risks losing market share to agile digital-first competitors.
3. Building with AI and Data
According to a 2024 McKinsey survey of 1,100 executives, over half prioritize business building. In life sciences, 45% plan to launch AI-based ventures in the next five years—up 28% from 2023. These include virtual health platforms and benefits management apps, promising faster growth and deeper engagement.
4. Key Barriers to Success
Life sciences leaders often struggle with:
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Regulatory complexity: Internal compliance structures slow innovation.
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Talent acquisition: Finding consumer-tech talent is tough using traditional HR models.
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Over-engineering: Excessive perfection delays launch.
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Old marketing habits: Relying on physicians or clinics instead of digital channels.
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Limited AI integration: Companies lack in-house capabilities or underuse external partners.
To overcome these, successful leaders create independent units free from corporate red tape, empower teams to test MVPs quickly, and use AI to shorten time-to-market and personalize user experiences.
5. Lessons from Tech-Inspired Healthcare Models
Companies like Apple and digital health startups have embraced rapid, real-world testing. For example, Apple’s Heart Study leveraged consumer data to validate health insights without long clinical trials. Similarly, some life sciences firms successfully launched B2B2C models by combining digital marketing with traditional sales forces.
6. Embracing a New Leadership Role
Executives must be hands-on throughout the innovation journey—shaping strategy, removing barriers, and aligning teams with clear goals. When they experience early success, they often pursue more ventures, accelerating transformation across the organization.
