Thomas Foster, Managing Director
The life sciences industry is at a transition point in its history. Innovative products are more difficult and expensive to develop, healthcare budgets are squeezed and the commercial landscape is ever more complex. These unprecedented conditions pose new business questions to the life sciences industry and require new analytical approaches and business strategies. “Our industry has new challenges in this new world order. The old ways of working are dinosaurs. The successful companies of the future will find new ways to understand their markets and deliver cost effective healthcare to the right patients at the right time and in the right setting,” says Thomas Foster, Managing Director of Foster Rosenblatt. Mr. Foster is one of the founding partners of this successful boutique consulting firm headquartered in Princeton, New Jersey.
Foster Rosenblatt is one of those consultancies that break the mold. The firm has positioned itself to be the leader in advanced predictive business analytics and adaptive strategy for their clients’ most important and difficult commercial opportunities. They specialize in doing the novel work that is required to answer today’s business questions that have never been asked before. “We shy away from the rote work of the past, and instead, we are strategic partners with our clients delivering new thinking to characterize their business condition, define their future opportunities and design a path forward,” explains Foster.
The life sciences industry has never had such diverse and deep-rooted challenges. Scientific, clinical, regulatory, payer and policy hurdles are growing ever larger and complex. The data available to address these challenges has never been so plentiful, but how to use this explosion of new data is still an evolving management science. Foster Rosenblatt has been a bellwether in defining original methods that use this vast volume of diverse data in ways that become actionable for their client set.
Our clients look to us for their most difficult and critical business questions. We support our clients with advanced predictive analytics and adaptive strategy
“Our practice leaders are each world class thought leaders in their areas, and they work with clients everyday to move past ‘analysis paralysis’ and toward clear understanding of truth and possibilities,” adds Foster.
Foster Rosenblatt originally made a name for itself with their Forecasting and Valuation practice. The other named partner in the firm, Jerry Rosenblatt, is a pioneer of the forecasting methods now considered the standard in the industry. His status as the sage of advanced predictive analytics has paved the way for the success of the firm. “Jerry literally invented the modern approaches for how we, as an industry, predict the future performance of markets and brands,” says Foster.
In addition to the core predictive modeling capability that is the hub of the firm’s suite of offerings, there are other practices that complete the overall value proposition. The pricing and market access practice addresses payer issues and helps clients navigate this increasingly important set of hurdles. The commercial analytics practice supports clients with promotional response and commercial tactics. And finally, Foster Rosenblatt has a Commercial Excellence Academy specializing in professional development and training.
For the last eight years, Foster Rosenblatt has provided services that support the global needs of clients sitting in North America. Going forward they will increasingly service clients in all geographies. Additionally, the firm’s work in animal health and medtech is poised for significant growth. With the combination of its talented practice leaders and innovative tools, Foster Rosenblatt is well positioned to continue to deliver its clients with highly differentiated business solutions in this ever more difficult business environment