IN SUMMARY: Millennials are the biggest demographic in the workforce but a career working in pharma is not high on their list. Pharma’s own culture continues to drive people away and allowing employees to wear jeans is not going to lead to a flood of resumes for open positions or keep them engaged.Continue reading
IN SUMMARY: Pharma has the help wanted sign out but very few people are biting because working in pharma often means back-to-back meetings, matrix decision making, and regulatory people who are inflexible.Continue reading
- Top Celgene executives will collect 2.5X their salary and bonus in cash if they leave after the deal with BMS closes.
- A new severance agreement was formalized days ahead of the buyout press releases.
- CEO Mark Alles will get three times his salary when he leaves.
- A Kaiser Family Foundation poll last March found that 80 percent of the country believes that prescription drug prices are unreasonable.
- Drug spending in the United States is slowing. Retail prescription drugs represent just 10 percent of the $3.5 trillion the nation spent on health care in 2017, according the Centers for Medicare & Medicaid Services. That’s an increase of just 0.4 percent.
- 90 percent of prescriptions in the United States are less-expensive generic copies of brand-name drugs.
- 83 percent of Americans insured by their employer had a plan with at least three prescription drug tiers, according to the Kaiser Foundation. The average co-pay for the highest tier was $110.
There are millions of people around the world who are living better lives because of the drugs that the pharmaceutical industry develops, but that doesn’t mean that the industry can continue to put Wall Street over patients.Continue reading
- Pharma companies need to recruit Millenials, but company culture is a barrier.
- Allowing employees to wear jean is not a way to attract new talent.
- The pharma organization must go through a transformation in order to better compete.
Accenture wrote many years ago that the biggest challenge to the pharma industry was their own organizational shortcomings. Unfortunately, most big pharma companies haven’t got the message and to this day most employees are treated as expendable assets. Continue reading