Some people who work for a pharma company are unethical as they have put profits ahead of patients. Many good people have found themselves in difficult situations as drug prices are set beyond the reach of many patients. They may be doing their best to make a difference, but at some point in time, employees need to determine if they are selling their souls for a paycheck.
The pharma industry, known for its significant contributions to medical advancements and public health, is experiencing a concerning trend. A growing number of individuals are actively avoiding pursuing careers in pharma. This blog post delves into the underlying factors contributing to this shift and explores why so many people steer clear of this once-promising field.
The pharmaceutical industry has been under fire in recent years for a number of reasons, including high drug prices, unethical marketing practices, and concerns about safety. As a result, public trust in the industry has declined significantly.
Unnecessary meetings are the bane of the corporate world. Yet, despite what appears to be an overwhelming consensus that they’re often unnecessary and unproductive, many pharma and biotech companies continue to struggle to avoid them.
Since the 1930s, the National Institutes of Health has invested nearly $900 billion in the basic and applied research that formed the pharma and biotech sectors. 75% of so-called new molecular entities with priority ratings (the most innovative drugs) trace their existence to NIH funding, while companies spend more on “me too” drugs.
The most important job of any DTC team is selling DTC internally to people who need help understanding its importance. Our job is to educate the skeptics by helping them understand how and why people are making treatment decisions. Here are some helpful pointers.
Company culture has an enormous effect on productivity and, ultimately, shareholders. There is a direct correlation between company culture and the number of employees; the bigger the company, the worse the company culture. Preparing the company for the imminent changes coming to healthcare should be a top priority, but it’s not.
No industry refuses to bow to the prevailing headwinds of change more than big pharma. If you have a high level of empathy, there are better places to be. Yes, there are people alive today because of the drugs we develop, but too many people are also determining how they will manage when out-of-pocket copays delete their savings. We need change with the new blood of employees that care more about people than profits.