Pharma trade magazines: Worthless?

KEY TAKEAWAY:  The pharma industry has helped a lot of people live longer, more productive lives, but the industry also has a lot of self caused problems from high drug prices and outrageous CEO pay to a blazing lack of transparency.  Rather than acknowledge and write about these issues the trade press seems to only praise and write articles from press releases.   Continue reading

Pharma’s incessant need for meetings

KEY TAKEAWAY:  Talk to anyone within pharma and you’re likely to find that their calendar is filled with meetings.  Even medical people are often pulled from the field to attend costly training meetings that waste time and money.  Why haven’t pharma companies used online training more to help reduce expenses? Continue reading

Why pharma is sales driven

KEY TAKEAWAY: Harvard Business Review found that sales performance is highly correlated with promotion to management. For salespeople, each higher sales rank corresponds to about a 15% higher probability of being promoted to sales management. But, sales performance is actually negatively correlated with performance as a sales manager: when a salesperson is promoted, each higher sales rank is correlated with a 7.5% decline in the performance of each of the manager’s subordinates following the promotion. We found similar results regardless of whether salespeople were promoted to their own team or to new teams. In other words, firms tend to promote top sales workers into management, even though they become the worst managers. Continue reading

Why won’t pharma work on the foundation before building a house?

KEY TAKEAWAY: Pharma websites have high bounce rates and less time on the site because their target audience isn’t finding what they need and the homepage looks like a medical journal ad.  Before pharma companies can even talk about exploring new digital channels they need to get their websites right. Continue reading