A slew of recent mergers and acquisitions in the brand-name pharmaceutical industry highlights the changing dynamic in drug development, as companies realign their business strategies to better reflect the competitive environment and focus on differentiated products for which payers are willing to pay a premium. "I think if you look at the economics in the industry...we have too much duplication in the pipeline...too many companies basically do the same thing just with differentiated products," said Nils Behnke, a partner with Bain & Company.