According to Forbes ” The 31 pharmaceutical companies comprising its main trade group spent $48.5 billion on research and development last year. All told, the pharmaceutical sector has spent $550 billion on R&D since 2000. That half-trillion dollars of research has yielded more than 400 new medicines” But of 12 cancer drugs approved in 2012, 11 cost more than $100,000. As more drugs are offered at that level and their sponsors get away with it, it seems to set a floor that emboldens drug companies to push the envelope. They are badly misjudging the brewing anger. Continue reading
According to an article in JAMA “more than 4 million children would lose health insurance if the ACA is repealed via budget reconciliation, almost 1 million of these are younger than 5 years”. Continue reading
KEY TAKEAWAY: Some pharma company CEO’s are living in a bubble and don’t understand why consumers are angry at the pharma industry. Despite the fact that some cancer patients, for example, are living longer US consumers are sick of paying more for healthcare and prescription drugs. Continue reading
KEY TAKEAWAY: DTC marketing has to evolve and change if it’s to remain relevant to the pharma organization. Gone are the days of people seeing an ad and running to their doctor to ask for an Rx. Today it’s check and verify claims and the cost and make my life easier. Continue reading
KEY TAKEAWAY: On the surface, the drug companies won a battle against Senator Bernie Sanders as his bill to allow pharmaceutical distributors and pharmacists to import cheaper prescription drugs from Canada and other countries, but what is most alarming is that some Republicans sided with Democrats in voting against the measure. Continue reading
KEY IDEA: It’s become easier to simply purchase a rival drug maker than to pour money into R&D. However, pharma’s worst enemy is its own culture which stymies innovation and rewards sales people who put numbers ahead of patients. Continue reading
KEY TAKEAWAY: How do you plan a strategy for 2017 when there are so any changes coming to health care? Rather than having a weeks worth of meetings to discuss the business and political climate there are some things that DTC marketers can do to prepare for 2017. Here are some ideas that might help.