Managing commercialization : how McKinsey & Company turned Nyegaard & Co into the world leader of contrast media

Abstract

This thesis studies to what extent engaging a management consultant firm during the innovation process may increase the likelihood of success. Firms often fail to benefit financially from their innovations, and this paper seeks to investigate if the probability for financial success will increase by using a consulting firm. By looking at a case between a Norwegian pharmaceutical company, Nycomed, and the American firm McKinsey, the thesis looks into how the consultancy changed Nycomed into a world leader in contrast media. The research is based on i) written reports and documents from both firms, preserved at the Norwegian National Archive, and ii) interviews with three former employees of both firms. The thesis discovers that the use of McKinsey certainly contributed to Nycomed’s success with their most important product Omnipaque.