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Good TailoringPersonalized health communication enables marketers to vary the messages they deliver, and it increases their ability to motivate different patients to act
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Networked PharmaDuring the next ten years, big pharma companies will need to launch two products a year to generate 5 percent annual growth, five products a year to hit 10 percent growth, and nine products a year to meet a 15 percent annual growth target. Clearly, the stakes are high.
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The Right StaffConsider the following real-world scenario: Feb. 28-Apr. 14, 2000. Third-party auditors warn Schering-Plough (SP) of problems with product quality, including lack of quality control (QC) and high staff turnover. Dec. 20, 2000. SP's stock price reaches a high of $60 per share. Jan. 19, 2001. FDA completes an in-depth inspection of SP production facilities, identifying significant, repeated, and widespread QC violations dating to 1998. Several production lines are shut down and the Clarinex (desloratidine) launch is delayed.
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Pharma and Biotech Markets: Mostly Sunny, But An Uncertain ForecastPharm Exec's Editorial Advisory Board member, Peter Young, cover a summary of the strategic issues facing the biopharma industry, but goes on to tell the story of what happened last year and this first quarter in terms of the stock market, M&A and financing (including IPOs) activity, where it is headed, and the implications for senior management.
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Opinion: Trigger PointsFor several decades, conventional wisdom in the pharmaceutical industry has held that a large sales force is the key to commercial success. However, in recent years, a number of warning signs have emerged about the effectiveness and long-term viability of this expensive asset. While few are saying it publicly, a number of pharma executives are now exploring the possibility that it could be only a matter of time before the industry's dependence on personal selling comes to an end.
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Get a Grip on the Supply ChainThe Sarbanes-Oxley Act-or SOX, as it is dubbed (not always so affectionately)-requires companies to provide greater control and quality assurance across a vast spectrum of business processes. In practice, SOX plays out differently industry by industry and even company by company. But for pharma, one of the most pressing consequences is the need to improve the accuracy of revenue recognition.
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Three Challenges to CRO SuccessThe last few years have seen tremendous consolidation in both the pharmaceutical and contract research industries. The impact among pharma companies has created a heightened demand for productivity. Consequently, contract research organizations (CROs) have struggled to find their footing in a business where the number of customers has shrunk and the demand for speed and cost-effectiveness has risen. Delivering service excellence when customers' names and addresses are changing regularly is a challenge, resulting in disrupted continuity, broken lines of communication, and policies and relationships thrown into disarray.
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The Growing Pediatrics MarketPediatric drugs require investments in formulation, but the market opportunity is worth the cost.
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Reach for the RadioIn August, eMarketer reported that Internet ad sales had officially displaced radio ad sales, nabbing the slot of fourth-largest ad medium. That was a huge blow to radio, which receives a sizable chunk of ad dollars from the pharma industry. Now pharma marketers have a new option-ReachMD, a 24-hour satellite radio station that plays content targeted at doctors.
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Sales Management: Get CommittedPharma companies today are focused on driving prescriptions. But just because physicians are prescribing a brand doesn't mean that they are committed to it. Who's to say a doctor won't jump ship the moment a flashier new drug comes on the scene?
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Pharma Signs Up to the FutureBy using digital signatures to eliminate paper from signature approval processes, pharmaceutical companies are achieving automated processes that are efficient and cost-effective without compromising security or compliance.
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The New Building Blocks for BlockbustersSingle drugs for single indications are hard to find. Here's how to get around that.
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C-Suite Personality: Fit for Future?Exploring new character benchmarks for today’s pharma executives, and whether they have the transformational traits to lead through change.
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PhRMA Announces Billy Tauzin's SuccessorJohn Castellani received the nod from PhRMA on Tuesday to take over the role of president and CEO in September.
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Forecast 2007: Connecting the DotsPharma faces a wide array of pressing issues-almost too many to think about comfortably-from drug safety and the industry's image to intellectual property in emerging markets and the overall usefulness of marketing. To remain effectively focused on strategy, industry executives must find relations between all the individual issues and group them into larger themes. Pragmatically, we all know this is essential.
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Opinion: AARPeevedCritics of the pharma industry have gotten good at selective reporting. So good, I've started tuning out. But, with a public official pulling similar punches, my ears can't help but perk up.
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Marketing to Professionals: Tomorrow's Changes TodayHow hard is it to spot an emerging threat or opportunity in time to actually do something about it? Is it as hard as spotting a scud missile in the deserts of Iraq? As hard as identifying an underwater threat to a submarine using only sonar? As hard as spotting a consumer trend in a vast and complex business like financial services?
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How Do You Solve a Problem Like Manufacturing?Outsourcing saves money-except when it doesn't. Here's how to decide what to do.
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Forging AlliancesSuccessful partnerships with third-party organizations such as patient and caregiver advocacy groups, professional associations, and thought leaders are powerful medicine for pharma companies.
