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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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Professional Persuasion:101The sales aid or detail piece tells the features and benefits about the product. The important marketing points are in bold print.
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Superstar Selection"You're fired!" It's a simple phrase that everyone is using, and it's put Donald Trump back into the spotlight. However, the most important statement you will ever make as a manager is "you're hired." With all the pressures of the job and the limited time you have for interviewing, it is easy to rush through this process to fill a slot. Stop yourself-hiring a good person is one of the most important decisions you will make as a manager.
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Risky BusinessEvery quarter, pharmaceutical manufacturers confront a dizzying array of price reporting obligations. Participation in the Medicare, Medicaid, Veterans Administration (VA), and Public Health Service (PHS) programs requires manufacturers to collect, organize, distill and manipulate vast quantities of information, and to generate from that data reportable figures that can have an enormous impact on the company's bottom line. It is critical that these figures be correct, not only to help ensure the integrity of these public programs, but because submission of false data to a federal agency is a prosecutable criminal offense, and the civil penalties and exposure can be staggering.
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Building a Digital Health InfrastructureOutlining the four core elements pharma companies need to lay the foundation for a solid digital health infrastructure.
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Freethinkers & Big PharmaProfessors ingrain the mantra "science for science's sake" into their pupils' minds during years of doctorate and postdoctoral training. Consequently, when entering into career paths, students gravitated toward academia, which fosters the perception of itself as accepting of free thinkers.
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Nobody Does it BetterIf you work for a company that isn't interested in increasing sales across your portfolio, don't read this article. Otherwise, you'll learn that your district managers (DM) are the keys to doing just that. DMs select and hire new sales reps, guide product knowledge, develop selling skills, provide feedback, and take action to turn around or terminate poor performers. The average industry DM is responsible for generating tens of millions of dollars in sales through his or her teams. But, only 45 percent of industry DMs achieve their sales goals. Companies that succeed in raising the overall effectiveness of their DMs will create sustainable competitive advantage.
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Invisible Prescribers: What You Do and Don't Know About NPs and PAsBefore a pharmaceutical company dispatches a sales rep to a medical practice, the marketing department learns some basic facts about the physician: how many new prescriptions she's written, how many refills, and how much upside prescribing growth she might generate. What the rep usually doesn't know: who else-nurse practitioners and physician assistants-prescribes medications in the office, at a nearby clinic, or sometimes in a separate practice just down the hall.
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Implementing a Customer-Centric Mindset in Medical AffairsThe Medical Affairs Digital Strategy Council's Mary Alice Dwyer and Indegene's Sameer Lal talk to Pharm Exec about how digital solutions can help the Medical Affairs function take a leadership role in ensuring fast, efficient, and meaningful responses to all stakeholders at a time of intense pressure.
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Legal: Shifting Perspective on Off-Label PromotionThe omission of criminal charges for off-label promotion of Serostim is surprising, because the government's earlier plea with Pfizer sent a strong signal that it would criminally charge companies engaged in off-label marketing.
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Study RescuePharma companies must quit wasting money and get strategic when mapping out their clinical study strategies
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Legal Forum: Loss CausationPlantiffs did not try to establish a link between the purported misconduct and the decline in share price. Rather, their sole allegation was that they had paid artificially inflated prices for Dura securities.
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Marketing to Professionals: Appealing to Doctor's EmotionsSanofi-Aventis' campaign for Taxotere elicits an emotional response from oncologists.
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Thought Leader: Getting "Sirius" About SpecialtyGarry Barnes says he joined the pharma industry for job security-but don't believe him. During the last 25 years, Barnes has worked for four pharma companies and built five sales forces in therapeutic areas ranging from contraception to organ transplantation.
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Sales Management: Pay-for-PerformanceAfter the merger, Wyeth had dozens of incentive plans for several thousand employees.
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Setting the StandardHome and abroad, the US Pharmacopeia is stepping up to maintain quality control. But it's not so easy. USP's Roger Williams discusses Medicare formularies, drug safety, international drug production, and the organization's changing role.
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Media Spend Trends: Change the ChannelIt's not closing time, but it does seem like the nine-year, direct-to-consumer (DTC) advertising happy hour is winding down. PhRMA's new Guiding Principles are dimming the lights, and television, the most glamorous and visible media channel for DTC, will have to turn down the volume.
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Under the InfluenceSales reps should be able to access, in a central location, company-enerated influences that have affected a given physician. This type of closed- loop marketing creates a more customer-centric approach that provides etter influencer-level insight by connecting each resource, providing direction and metrics, and continually re-evaluating key influences and ROI.
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Lawrence M. Blatt on Taking the Leap from Scientist to FounderThe Aligos Therapeutics chairman, president, and CEO discusses his journey to building his own company and bringing an experienced team along with him.
