R&D has been replaced with acquisitions. The latest is J&J’s deal to buy out Momenta for $6.5 billion. This week alone Sanofi, BMS, and other big pharma companies have spent billions on the purchase of smaller, promising companies who have drugs that could lead to happy investors.
Here is a copy of a talk I recently gave via Zoom to my European colleagues.
IN BRIEF: Pharma companies have been posting jobs on LinkedIn almost every day. While most offices remain closed pharma is preparing for the launch of new products and has to have the infrastructure to ensure a successful launch.
Pharma digital marketing has been lagging behind key trends for a long while. Let’s face it, pharma organizations are not made for speed while digital marketing is all about “now”. Digital marketing is also about experimentation and learning from successes as well as failures. An internal team of consultants, dedicated to digital, can add a lot of value to a company.
QUICK READ: There are a lot of patient-centered, hard-working people within the pharma industry. The problem is that there are way too many senior managers whose only goal is to remain relevant within the organization even if it means patients suffer. Trade magazine awards don’t mean anything if one company makes a bad decision that stains our industry.
QUICK READ: You would think that pharma companies, by now, would recognize talent and hire people who can strengthen their organization but unfortunately, that’s not true.
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: People are living longer with a better quality of life thanks, in part, to prescription drugs. When a news story breaks about pharma greed the whole industry pays a price and goodwill can be wiped out in an instant.