KEY TAKEAWAY: We work too hard and have done too much good to allow some greedy CEO’s and bad executives to continue to drag our industry through the dirt. You have to be the voice of the patient at all meetings and have to do what is morally right to bring back the prestige of working in our industry.
The silence within our industry is deafing. No, I’m talking about industry sponsored PR that continues to talk about investment in R&D and the cost of developing new drugs. I’m talking about the rank and file who are too afraid to “rock the boat” because they live in fear of loosing their jobs.
When an executive says “marketing supports sales” and sees marketing as an expense to make numbers then people have to speak up. When a marketing program is implemented that includes raising the price on an inexpensive product employees need to raise the red flag.
Last week my consulting group turned down a very lucrative consulting job because within the information we found that their goal was to charge as high a price as the market could bear so they could be more attractive to a takeover by big pharma. In this case the executives at the company would receive very huge payouts. The drugs is a “me too” drug that only showed marginal improvement over current products on the market. We decided to say “no” and I have no regrets.
I understand that here are a lot of people who are living a good quality of life due to the drugs that pharma developed, but in this age of hashtag activism that’s not good enough. We need leaders within our industry who understand that while we are a business, we also provide help to patients.
The CEO of Mylan has failed in the most important quality of any CEO; leadership. Does anyone really believe that the rank and file of Mylan believe in what she is doing? How do you think they feel when they read how bad their company is when she earns $18 million and has a golden parachute of over $50 million?
I know good people within the industry are out there, working hard to make a difference in patients’ lives. You want to feel good when you go home and you can’t let bad decision making and a sales driven culture ruin your hard work. The time to stay silent has passed.