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Pharma and Biotech Markets: Mostly Sunny, But An Uncertain ForecastPharm Exec's Editorial Advisory Board member, Peter Young, cover a summary of the strategic issues facing the biopharma industry, but goes on to tell the story of what happened last year and this first quarter in terms of the stock market, M&A and financing (including IPOs) activity, where it is headed, and the implications for senior management.
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Back Page: Where are the Women?Despite efforts to increase diversity, the stark reality is that today's leading pharmaceutical companies are still run by men.
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Opinion: Trigger PointsFor several decades, conventional wisdom in the pharmaceutical industry has held that a large sales force is the key to commercial success. However, in recent years, a number of warning signs have emerged about the effectiveness and long-term viability of this expensive asset. While few are saying it publicly, a number of pharma executives are now exploring the possibility that it could be only a matter of time before the industry's dependence on personal selling comes to an end.
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Get a Grip on the Supply ChainThe Sarbanes-Oxley Act-or SOX, as it is dubbed (not always so affectionately)-requires companies to provide greater control and quality assurance across a vast spectrum of business processes. In practice, SOX plays out differently industry by industry and even company by company. But for pharma, one of the most pressing consequences is the need to improve the accuracy of revenue recognition.
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Direct to Consumer: One Size Fits YouPharma companies have been blasting out electronic newsletters to consumers since the advent of new media. But far too often, the content is vague and redundant, and instead of striking a responsive chord with potential readers, e-mail campaigns are more likely to prompt a strike of the delete key.
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Three Challenges to CRO SuccessThe last few years have seen tremendous consolidation in both the pharmaceutical and contract research industries. The impact among pharma companies has created a heightened demand for productivity. Consequently, contract research organizations (CROs) have struggled to find their footing in a business where the number of customers has shrunk and the demand for speed and cost-effectiveness has risen. Delivering service excellence when customers' names and addresses are changing regularly is a challenge, resulting in disrupted continuity, broken lines of communication, and policies and relationships thrown into disarray.
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The Growing Pediatrics MarketPediatric drugs require investments in formulation, but the market opportunity is worth the cost.
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Critical Mass for Critical Path?Innovation in science is no quick trick, and neither is collaboration. Back in March 2004, FDA sounded a now-famous alarm: Despite the drug industry's 250 percent jump in spending on R&D, drug-development productivity had plunged by 50 percent over the previous decade. The report, which became known as the Critical Path Initiative (CPI), last year yielded an industry-wide call to arms regarding 76 action items (aka, the "Opportunities List") in six key areas: biomarker development, the streamlining of trials, the harnessing of informatics, improving drug manufacturing, public health initiatives against infections and bioterrorism, and special programs for adolescents, children, and other at-risk populations.
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Combating CounterfeitsAfter last year's anthrax scare, people desperately began stockpiling Cipro (ciprofloxacin) and other products to prepare for bioterrorism attacks. Not wanting to bother with a visit to their doctor and not willing to pay the product's high retail price of several dollars a pill, they began ordering Cipro-or what they believed to be Cipro-online, from dozens of websites offering it at discounted rates. The problem is, there is no guarantee they were getting the real thing.
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Reach for the RadioIn August, eMarketer reported that Internet ad sales had officially displaced radio ad sales, nabbing the slot of fourth-largest ad medium. That was a huge blow to radio, which receives a sizable chunk of ad dollars from the pharma industry. Now pharma marketers have a new option-ReachMD, a 24-hour satellite radio station that plays content targeted at doctors.
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Sales Management: Get CommittedPharma companies today are focused on driving prescriptions. But just because physicians are prescribing a brand doesn't mean that they are committed to it. Who's to say a doctor won't jump ship the moment a flashier new drug comes on the scene?
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Pharma Signs Up to the FutureBy using digital signatures to eliminate paper from signature approval processes, pharmaceutical companies are achieving automated processes that are efficient and cost-effective without compromising security or compliance.
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The New Building Blocks for BlockbustersSingle drugs for single indications are hard to find. Here's how to get around that.
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Critical Mass for Critical Path?Innovation in science is no quick trick, and neither is collaboration. Back in March 2004, FDA sounded a now-famous alarm: Despite the drug industry's 250 percent jump in spending on R&D, drug-development productivity had plunged by 50 percent over the previous decade. The report, which became known as the Critical Path Initiative (CPI), last year yielded an industry-wide call to arms regarding 76 action items (aka, the "Opportunities List") in six key areas: biomarker development, the streamlining of trials, the harnessing of informatics, improving drug manufacturing, public health initiatives against infections and bioterrorism, and special programs for adolescents, children, and other at-risk populations.
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C-Suite Personality: Fit for Future?Exploring new character benchmarks for today’s pharma executives, and whether they have the transformational traits to lead through change.
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PhRMA Announces Billy Tauzin's SuccessorJohn Castellani received the nod from PhRMA on Tuesday to take over the role of president and CEO in September.
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Forecast 2007: Connecting the DotsPharma faces a wide array of pressing issues-almost too many to think about comfortably-from drug safety and the industry's image to intellectual property in emerging markets and the overall usefulness of marketing. To remain effectively focused on strategy, industry executives must find relations between all the individual issues and group them into larger themes. Pragmatically, we all know this is essential.
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Opinion: AARPeevedCritics of the pharma industry have gotten good at selective reporting. So good, I've started tuning out. But, with a public official pulling similar punches, my ears can't help but perk up.
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Marketing to Professionals: Tomorrow's Changes TodayHow hard is it to spot an emerging threat or opportunity in time to actually do something about it? Is it as hard as spotting a scud missile in the deserts of Iraq? As hard as identifying an underwater threat to a submarine using only sonar? As hard as spotting a consumer trend in a vast and complex business like financial services?
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How Do You Solve a Problem Like Manufacturing?Outsourcing saves money-except when it doesn't. Here's how to decide what to do.
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Forging AlliancesSuccessful partnerships with third-party organizations such as patient and caregiver advocacy groups, professional associations, and thought leaders are powerful medicine for pharma companies.
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Back Page: Of Movies and DrugsA free flow of cheap counterfeits eclipses the ability of local manufacturers to create new products.
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Marketing to Professionals: The Advertorial EffectAdvertorials were shown to be more effective than branded ads in terms of generating interest, providing valuable info, and provoking follow-up discussions
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Innovation NationThe President is ready to spend heavily to help out economy. Let's invest in ideas that carry us forward.
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Burden of ProofIn an organizational environment characterized by downsizing and zero-based budgeting, public relations no longer can convincingly argue that the function is justified without evidence of measurable results.
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The SecretWhen it comes to corporate reputations, it's clear the pharmaceutical industry doesn't quite get it. (Just pick up any newspaper.) But here's the latest newsflash when it comes to managing a bad rap: You get what you pay for.
