How do pharmaceutical companies improve their productivity?

One of my favorite journal is Drug Discovery Today from Elsevier.
And I read a short review about the productivity it was interesting for me. The title is “Do large mergers increase or decrease the productivity of pharmaceutical R&D?”. @_@
https://www.ncbi.nlm.nih.gov/pubmed/28646641
I am in charge of medicinal chemistry of middle size pharma, so I am not sure about effect of mergers.
The author analyzed the effect of large mergers and compare the productivity with pre and post mergers.
Astellas Pharma is listed from Japan (Yamanouchi + Fujisawa).
In the Table3, they showed R&D productivity in post-merger windows versus controls. And the table shows almost mergers improve productivity except for GSK. The metrics of the productivity is based on “total peak sales generated from new molecular
entities (NMEs, new drugs approved by the
FDA) per dollar of R&D spend as the measure
of success”

It is interesting because productivity ratio of Asteras and Bayer are more than 10 times.
On the other hand many pharmaceutical companies are downsizing their research area and focus on specific therapeutic areas.
Now block buster model is gone and new strategy is needed for drug discovery.
Where do pharmaceutical companies go?

…..

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