Novartis, a pharmaceutical company, plans to offer its new prostate cancer drug only to private buyers if healthcare systems refuse to pay its high price. The drug costs about $42,500 per dose in the US, and its sales have been increasing, particularly in the US and Germany. Due to the drug’s high cost, some health systems are hesitant to include it in their coverage, but Novartis remains optimistic about its profits.

The pharma industry is undergoing a seismic shift, not just in terms of groundbreaking drug discoveries but also in how it finds and fosters talent. As healthcare employees, understanding where pharma is sourcing innovative minds can provide insights into the evolving landscape of our profession. Here’s a closer look at where the pharma industry will find employees who can drive the next wave of innovation.

Social media is increasingly used by health-conscious patients. However, the highly regulated nature of the pharma industry poses unique challenges. Adhering to guidelines set by regulatory bodies like the FDA while effectively engaging with your audience requires a strategic approach. Here’s how pharma marketers can leverage social media to their advantage while staying compliant.

Direct-to-consumer (DTC) advertising has always been a crucial strategy for reaching patients and encouraging them to seek new treatments. However, as the healthcare landscape evolves, so must our approaches to DTC advertising. The complexity of today’s barriers requires innovative and adaptive strategies to ensure we effectively connect with consumers. Here’s why new approaches are essential.

Insurance plans like Medicare and commercial plans cover fewer medications and add more restrictions on coverage, making it harder for people to afford the medicines they need. Patients may have to pay more out of pocket before insurance starts covering their medical costs, and some drugs may not be covered at all. This can lead to financial strain and difficulty accessing necessary medications.

Small biotechs often face the daunting challenge of navigating through rapid growth phases. As these companies expand, they frequently look to hire experienced professionals from large pharmaceutical companies. While this strategy brings valuable expertise, it can also lead to unforeseen complications. In this blog post, we explore the potential pitfalls of overstaffing small biotechs with talent from big pharma and how to strike a balance.

According to an FTC report, PBMs are central to the complex pharmaceutical distribution chain that delivers medicines from manufacturers to patients. PBMs serve as middlemen, negotiating the terms and conditions for prescription access. Those who work in the industry know this, but the critical question is, “What’s going to be done about it?”