QUICK READ: STAT News post entitled “Early peek at data on Gilead drug suggests patients are responding to treatment” was irresponsible and had led to investors gambling on a drug that has no substantial clinical data behind it. Both Gilead and the hospital urged caution. “Information from an internal forum for research colleagues concerning work in progress was released without authorization,” said University of Chicago Medicine. “Drawing any conclusions at this point is premature and scientifically unsound.”
QUICK READ: Just as I had written on this site a Chief Digital Officer for a top pharma company has left after just twenty-four months on the job. Culture destroys even the best business intentions. Digital is so important to pharma but so is old business models driven by a merry-go-round of pharma lifers.
SUMMARY: Happy new year! Here’s a 4-6% price increase on your prescription drug. Prescription drug prices are sure to be on the political talking points as drug makers indicate that they don’t care or know that they have drug CEOs in their pockets.
SUMMARY: Free-market capitalism is in trouble. The focus on “profits now” is leading to a mentality of short-term business practices that are harming our health and well-being for the sake of quick payouts.
SUMMARY: The “confession” from a former Eli Lilly salesperson is indeed damning but shouldn’t be an indictment of ALL salespeople. However, as more and more HCP’s decline to see salespeople pharma needs to take a hard look at whether their value is really necessary.
WHAT”S GOING ON: DTC TV ads aren’t working. There are too many barriers to get people to ask for or switch to new treatments. Even with improved benefits, most patients are willing to stay with the status quo. As healthcare comes under intense pressure to reduce costs DTC budgets could get whacked.
SUMMARY: According to a new report from the Institute for Clinical and Economic Review released on Tuesday, combined price hikes from seven drugs, in 2017 and 2018, contributed to a $5.1 billion increase in U.S. spending. None of those drugs had new important evidence to support the price increase, the study concluded. Why is this happening?
SUMMARY: Via Business Insider “CEOs have for decades chanted the mantra of shareholder supremacy and placed cost-cutting and short-term profits above all else. That mindset, however, just might be changing.” It might be changing in other industries but within pharma, the mindset is still “short term balance sheet”.