SUMMARY: This month, McKinsey agreed to pay nearly $600m to settle claims that its advice had exacerbated the deadly US opioid crisis, yet pharma views McKinsey as business gurus. This has to stop, and NOW!
SUMMARY: AI in the pharma industry has the ability to transform certain capabilities. DTC marketers can tap into AI to help deliver relevant messages to certain audiences, but they shouldn’t let AI do all their thinking.
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.
WHAT’S THIS ABOUT THEN: Researchers are rushing to launch clinical trials of experimental vaccines against the coronavirus, and treatments for COVID-19. But as hospitals brace for an onslaught of critically ill patients and laboratories worldwide are disrupted, researchers have had to shelve clinical trials of therapies for other illnesses.
QUICK READ: Almost every pharma company is working on a treatment/vaccine for COVID-19 and some have even formed alliances with each other to speed development. If they develop new treatments for the virus will people once again hold pharma companies in high regards?
KEY IDEA: Amarin feels that adding salespeople might be the answer to make Vascepa a blockbuster. They are also ramping up TV ads in support but will it make a difference?
KEY PONTIFICATION: The all front attack against pharma drug pricing is going to de very little to lower overall healthcare costs but politicians are not about providing REAL results, they are all about getting re-elected. Pharma companies largely ignored the gathering storm clouds and went about business as usual which is resulting in new restrictions that are going to limit innovation.
- Edelman’s annual trust barometer research recorded an increase of 6 points in the U.S. that helped pharma reach a new rating score of 44
. Theindustry would need to reach 50 to get to neutral territory and to 60 to be considered trusted under the Edelman ratings.
- Overall, trust in healthcare—which includes pharma, biotech and life sciences, hospitals and clinics, insurance and consumer health—increased by 8 points in the U.S. to reach 61.