An Exploration of Business Model Components in Biopharmaceutical Companies

Abstract

Background and Aim: Given the increasing variety of biological drugs in the world and the significant role of these drugs in patientschr('39') quality of life, as well as the high risk of drug productions, biopharmaceutical companies need to revise their business model. The purpose of this study is to review the dimensions and components of biopharmaceutical companies. Materials and Methods: This is a comprehensive review and is based on the existing studies by searching valid databases such as PubMed, Science Direct, SID, Iran doc and Google Scholar from 2000 to 2019. All the searches were performed based on keywords such as “Components of Business Model”, and “Business Model of Biopharmaceutical Companies”. The initial search yielded 820 articles. After screening, 23 articles were selected for final study. Results: The overall dimensions of business model in biopharmaceutical companies are identical to other companies, but the components of the business model of these kinds of companies are various based on their performance, and the most important components include the value proposition, key resources, success factors, revenue stream and cost structure. Conclusion: Introducing the components of business model in this study can be adjusted based on the dimensions of business model and the characteristics of each biopharmaceutical company.

Keywords

• business model
• value proposition
• biopharmaceuticals
• key resources
• revenue stream