SUMMARY: Digital ad spend in pharmaceutical brands is up 111% so far in 2020 and 80% of that money is being thrown away by fraud and the popularity of programmatic advertising.
QUICK READ: There was hope that all the negativity towards pharma would start to evaporate as they worked on a vaccine for COVID-19 but that goodwill is being eroded by an industry whose master is Wall Street, not patients.
QUICK READ: Gilead could reap billions from the sales of Remdesivir. Although Remdesivir is the only therapy so far to show a slight impact in helping hospitalized Covid-19 patients a $5000 treatment cost could reward Gilead with tens of millions of dollars in sales.
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.