Never accept things as “they are”

main-qimg-5bf151cb888b919da8d2d19c50d753d3KEY TAKEAWAY: As the business model for pharma comes under intense scrutiny, managers should be challenging old processes and start asking “how can we get faster and better?”.

If you think the business model for pharma is going to remain the same, then it’s probably a good time to get your head out of the sand and take a good look around.   Congress wants to talk to a pharma CEO and ask about a 500% price increase for a heart drug and drug pricing is going to take center stage in the upcoming presidential election.

As much as the business model needs to evolve with changes in how pharma marketers launch and market drugs also needs to change.  We can no longer afford the luxury of back to back meetings and endless Power Point decks to initiate small changes in marketing, we need to challenge not only what we do but how we do it.

Dream-things-that-never-were

I’m not suggesting that we do things that raise the risk levels to red, what I am suggesting is that we need passionate people who, even when successful, ask “how could we have done this better and faster?”.  Speed is a competitive advantage, but with the speed we also need to integrate quality.

Here is a great example;

In the early Spring I completed an analysis of social media buzz around MS clearly showing an opportunity for a biopharma company to join in the conversation by answering basic questions about one of their drugs.  By the time we were able to get the necessary buy-in and prepare Power Point decks with recommendations the buzz around this product had declined by more than 400%.  Clearly an opportunity was missed.

7115899

I know that that the pharma industry is taking a lot of heat because of drug prices, but I also know that there are a hell of a lot of people who are around today thanks to the drugs we market and develop.  You can’t put a price or title on someone in your organization who has a passion for patients and seeing your brand succeed.  Seek out these people and for God’s sake, stop worrying if “they are going to fit in”.