Ravi Shankar asks how pharmaceutical firms can best organise the vast amounts of data needed to stay in compliance with issues such as physician spend management.
Times are changing in the pharmaceutical and life sciences sectors and their supply chains are having to adapt to a new set of challenges, says Kenneth Porter of specialist consultancy Total Logistics.
The business philosophy and tools that revolutionized Toyota could save the ailing drug industry a lot more than just time and money. But is pharma really capable of getting lean?
In a volatile and highly competitive market, one way for pharma companies to keep an edge is through better communication. Companies routinely outsource the services and processes involved in the formulation, manufacture, packaging, labeling, and delivery of products. Leveraging the resources of third parties can be both cost-effective and efficient. But not all companies successfully communicate and collaborate with their partners to capitalize on those benefits.
Thomson Reuters' global pharma forecast for next year.
In our quest as sales reps to provide our physician customers with a valuable sales call, it is crucial to understand what the driving forces are in healthcare delivery and how they affect these customers.
The business philosophy and tools that revolutionized Toyota could save the ailing drug industry a lot more than just time and money. But is pharma really capable of getting lean?
The ability to compete globally is essential to success in the pharmaceutical industry. The current trend is to establish joint ventures, outsource various stages of the development and production of a single pharma product, and purchase or start an indigenous business in other countries.
The business philosophy and tools that revolutionized Toyota could save the ailing drug industry a lot more than just time and money. But is pharma really capable of getting lean?
What to make of the simmering public and political angst
We hear it all the time these days: research processes have to undergo transformative changes in order for research organizations to thrive-or even survive. Controlled clinical trials take too long and cost too much. Regulatory review is blocking innovation.
Pricing has never been more of a key issue for the industry than it is right now. Yet, even with the increased importance of pricing strategies, a lack of focus on critical market factors leads many manufacturers to forego profits or increase their vulnerability to aggressive payers. Aligning pricing and contracting can achieve a sustainable competitive advantage-if product managers objectively assess a product's clinical benefits and address two key questions:
The rules of the game have changed. While pharmaceutical executives have been busy trying to keep up with a radically shifting marketing landscape, technology has swept in and changed everything marketers held sacred.
Google opened up a whole new era of social media when it released Sidewiki - a tool that allows anyone to comment on any Web site. Now pharma has a new battle to fight.
The sponsors of clinical trials Sunshine Act legislation to improve their physician payment processes, educate the public on the complexity of clinical research and development, and help patients make informed opinions about physicians - bringing true transparency to the financial aspects of discovering new medical treatments.
In 1996, Sandoz (now Novartis) decided to brave new waters to create consumer demand for the antifungal Lamisil (terbinafine) in the United Kingdom. But with European law forbidding pharma companies to conduct brand-name advertising, Sandoz needed to find another way to encourage patients to talk with their doctors about onychomycosis and its treatment options. So the company re-named the condition the more consumer-friendly "fungal infection" and took out newspaper ads asking readers to call or write to "Step Wise" for a free brochure on foot care.
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One of the fastest growing segments in the industry, specialty pharmaceuticals are proving tough to track for most companies-creating critical gaps in the supply chain view that can distort strategic planning and impact competitive advantage.
High priced biologics may have a bright future in emerging markets, but winning access in the short term will be a hard sell.
The pharmaceutical industry distributes more than $22 billion worth of medication samples in the US alone. It's time to revisit the issue of waste inherent in this marketing strategy.
Instead of leaving the doctor's office well informed, the patient often leaves without enough comprehensible information to comply with the prescribed treatment.
To get their messages out in this age of polarisation and "too much information", marketers need to shout louder, have a more dramatic point of view and gather a league of similar advocates to succeed. Al Topin sees the solution in common sense and courage.
In today's legal climate, pharmaceutical companies are prime targets for litigation in both state and federal courts. Because they are engaged in product research and development and related complex business practices spread across many jurisdictions and because the public perceives the industry as having deep pockets, executives must be prepared for-and frankly must expect to face-the challenges of major multijurisdictional litigation.
The President and Congress are sounding the alarm on the need for healthcare reform. There are several near-certainties for which pharmaceutical and biotechnology companies must be prepared as they develop forecasts and for the next five or six years.
For the pharma industry, the year 2002 brought unprecedented competition, pricing pressures, public scrutiny, and ever-increasing regulation, all exacerbated by a weak economy. (See "Defining Events," pages 50-56.) Although a few companies forged new partnerships and produced life-saving treatments, many more struggled to meet the industry's challenges. And no road map exists to guide them through today's continuing market pressures or to help them anticipate tomorrow's challenges.