The influence of COVID-19 on digitalization strategy of European and Indian pharmaceutical companies

Details

Supervisors

Aust, Ina

Faculty

Louvain School of Management

Degree label

Master [120] en sciences de gestion, à finalité spécialisée

Abstract

The COVID-19 pandemic changed the way economic actors interact. Measures taken by national governments to counter the epidemic forced the companies to rethink their processes and business models. Companies must adapt their activity in order to comply with the changing world. Indeed, the economic is actually facing a strong digital revolution and firms must internalize that change if they expect to survive within markets. In an economic world in full digital transition, this health upheaval has a significant impact on economic stakeholders, whether positive or negative. The COVID-19 pandemic has propelled the pharmaceutical industry to the forefront due to the imperative need to develop a vaccine and protect the population. In this work, we will compare two leading industries: the European and Indian pharmaceutical industries. Both industries are excelling in different activities. One is a leader in selling and R&D while the other one is a leader in R&D and production. Does the COVID-19 pandemic impact these industries identically or differently? Does it boost or slow down the digitalization strategy of these firms? In what extent? These are questions that we will try to answer within this paper while analyzing the behavior of pharmaceutical companies and their digital strategy. This objective is finding out if this pandemic influences the digitalization strategy of pharmaceutical firms, especially in Europe and in India.