IN SUMMARY: Launching a new drug in today’s challenging market can be tough. Your first objective, when it comes to DTC marketing should be to reach your target micro-segments with relevant messages. Today, one message for all segments doesn’t work. More emphasis on digital that works and less emphasis on mass channels.
IN SUMMARY: When the list price of a drug goes up but the net price goes down there is something dreadfully wrong with our healthcare system. The hearings, before Congress yesterday, were meant to convey to voters that “we’re doing something” but patients are not likely to see any benefits from ANY Congressional hearings until the SYSTEM is questioned.
KEY IDEA: Today some pharma CEO’s will go to Congressional Hill to answer questions about high drug prices. Politicians are conducting this charade because they want to give voters the idea that “they care” and that they are doing something. What won’t be discussed are the real reasons American healthcare is the most expensive in the world with poor results.
- Catalyst CEO Patrick McEnany is now building his stand around the FDA approval of the $375,000 annual price tag it has slapped on its newly approved drug Firdapse.
- “We believe that the pricing of our product is in line with the pricing of other products that provide significant clinical benefits” according to their CEO.
- The CEO also says the company will do whatever they can to limit patients’ out of pocket cost but the damage is already done.
IN SUMMARY: According to a recent study in Scientific American, ” the FDA’s assumption that more risk information leads to greater concern about risk is misplaced. Across six experiments, comprising of over 3000 US participants, we reliably find that when drug commercials include all side effects (both major and minor), in line with the FDA’s regulations, consumers’ judged the overall severity of drug side effects to be lower than when exposed to only major side effects. This lowered assessment of severity led consumers to prefer the drug more—and made them willing to pay more for the drug”. This, to say the least, is a hugely flawed study.
IN SUMMARY: Under current law, national health spending is projected to grow at an average rate of 5.5 percent per year for 2018-27 and to reach nearly $6.0 trillion by 2027. However, given the poor health of Americans, I believe this projected spending is unrealistic.
- Our high cost of care and modest health outcomes will remain stubbornly fixed unless our behavior changes.
- Nearly 40% of Americans were considered obese in 2015 and 2016, a significant increase from 2007 and 2008.
- A 2016 study published in the Journal of the AMA found that only 2% of Americans met the ideal dietary guidelines adopted by the American Heart Association.
- In a 2015 survey, 28% of American adults that they did not participate in the past year in any of 104 listed physical activities and were considered “totally sedentary.”
- Doctors are increasingly worried about loneliness.
- Vivek Murthy, a former surgeon-general of the United States, called loneliness an epidemic, likening its impact on health to obesity or smoking 15 cigarettes per day.
- A study found that in America people always or often feel lonely.
- A study published in 2010 using this scale estimated that 35% of Americans over 45 were lonely.