- Elizabeth Holmes built her company Theranos on this invention she named the Edison. A miniaturized blood analyzer that would disrupt the $60 billion lab testing industry dominated by giants LabCorp and Quest Diagnostics.
- By February 2015 the Theranos fairytale was about to unravel publicly.
- John Carreyrou, the Wall Street Reporter who broke the story on Holmes and Thernos said “She (Homes) is a pathological liar. She wanted to be a– celebrated tech entrepreneur. She wanted to be rich and famous. And she wouldn’t let anything get in the way of that.
- For the media, Elizabeth Holmes’ story proved irresistible: a bright young woman revolutionizing blood testing, in Silicon Valley no less. Fortune magazine put her on their cover. Forbes named her one of the richest self-made women in the world. Time selected her as one of its 100 Most Influential People.
- To this date, most people in the media are not being held accountable for their part in building up Ms Holmes without asking tough questions.
KEY TAKEAWAY: People don’t trust pharma companies and pharma companies, it seems, could care less which is one of the reasons why DTC marketing is becoming less effective. Continue reading
KEY TAKEAWAY: On Wednesday, Apple released the test version of a new product that lets users download their health records, store them safely and show them to a doctor, caregiver or friend. “We view the future as consumers owning their own health data,” Apple Chief Operating Officer Jeff Williams said in an interview with CNBC. Imagine, actually giving consumers what they want! Continue reading
KEY TAKEAWAY: Consumer Intelligence Research Partners (CIRP) released data showing that 20 million Amazon Echo and 7 million Google Home smart speakers have been purchased by U.S. Consumers in the third quarter of 2017. These figures are significant. Other estimates suggest about 8.5 to 11 million devices will be sold in the U.S. in Q4 2017. That means total smart speakers sold and in use will approach 40 million in the U.S. That will represent over 20 million U.S. households and consumer reach exceeding 50 million people . The global smart speaker install base will significantly exceed 40 million units at the close of 2017. There are significant opportunities for health care, but does pharma have innovators who can leverage this technology? Continue reading
ASCO’s National Cancer Opinion Survey, a large, nationally representative survey conducted online by Harris Poll, found that the majority of Americans are unaware of several major risk factors for cancer—most notably obesity, which will soon overtake smoking as the largest preventable cause of cancer in the United States. Continue reading
KEY TAKEAWAY: It’s time to change the perception of “big pharma” and show the public that the drugs we develop can save lives without forcing patients to declare bankruptcy. You have to be the voice of the patient and caregivers in meetings and remind everyone that all though we’re a business our business allows people to live longer, productive lives. Continue reading