Pharma has a lot of work to do to “earn trust”

circletrustFresh from a Bloomerg news story comes this tidbit “Gilead Sciences Inc., whose $1,000-a-pill hepatitis C treatment is one of the world’s most expensive drugs, is avoiding billions of dollars in U.S. Taxes by booking profits overseas.” This is pure chutzpah and, it tells American consumers that we are going to put profits ahead of everything else and gives all of pharma a black eye.You can quote all the statistics you want about the “level of trust” patients have with pharma companies on social media but as long as stories like these circulated and find an audience pharma is going to take two steps forward three back.

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The most basic equation in any sales process is “trust, and make no mistake about it today pharma needs to sell patients that their therapy is the best choice for their healthcare needs.  To this end pharma is failing.

Pharma product websites are pretty much stagnant with only a few brands that understand how important it is to “talk to” instead of “at” online health seekers.  As for social media, while there are opportunities pharma brands would better be served developing a better process for online websites.

I keep thinking that pharma companies are their own worst enemy and when stories like the Bloomberg story appears it confirms my worst fears.  It’s time for pharma DTC managers to ask more about the “lack of trust” and what THEY can do to earn it everyday.

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