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What's Really Driving Costs?According to many legislators and the media, pharma companies, abetted by Madison Avenue, lead the corporate villain list, just below auditors and errant CEOs.
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Pharma 2016: Hot Topics, Burning QuestionsPharm Exec Editorial Advisory Board member Cliff Kalb poses some of the pertinent questions he expects the pharma industry will be asking this year.
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Supreme Court Gets Final Say on OvertimeWith conflicting lower court decisions over whether pharmaceutical sales reps should be paid for overtime, the Supreme Court has agreed to settle the matter. The court will hear the case brought by two former GSK reps that were denied their overtime claim by a Circuit Court.
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The future of phamaceutical sales training: Internet as instructorLearning and training from home is just around the corner.
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The Art of good listeningOne of the most common complaints customers express about salespeople is that they don't listen. And one of the quickest ways to destroy customer confidence is to make an off-the-wall comment or a misfit proposal that shows you haven't been listening.
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Creating Clinical Portals: A Model for SuccessClinical trials are complex, time consuming, and data intensive. Yet pharma remains one of the few industries that is still largely paper driven.
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Measuring the Value of KOL InteractionsThought leaders are a critical component of a pharmaceutical company?s professional marketing and medical strategies. But companies face a real challenge in creating, maintaining, and leveraging those relationships while safely navigating logistical issues and regulatory waters.
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Region in Reform? Access Pains and Gains in Latin AmericaPharm Exec convenes a panel of biopharma executives responsible for the Latin America business to discuss investment, market access, and reimbursement issues in this key and challengingly diverse growth market for the life sciences industry
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Where have all the Scientists Gone?With an emphasis on short-term objectives rather than long-term goals, pharma is missing a huge opportunity in applying market science to drive adherence
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Relaunching ReformThis time, powerful interest groups (like pharma) that sank the Clinton healthcare bill are on the side of change
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The Changing Pharmaceutical Sales LandscapeSales forces can achieve compliance and excellence through individual behavioral fine-tuning and company-wide cultural adjustment.
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The Push for Modern ManufacturingAntiquated manufacturing processes cost pharma money-a fact widely known and accepted in the industry. At some facilities, rejected batches, rework, and lengthy investigations have become a way of life, and by some estimates can inflate production costs by as much as 10 percent. According to G.K. Raju, executive director of the Pharmaceutical Manufacturing Initiative at the Massachusetts Institute of Technology, manufacturing consumes an estimated 25 percent of drug company revenues.
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Open Payments: Key Compliance ConsiderationsOn June 30, the Centers for Medicare and Medicaid Services (CMS) released the first full year of data under The Affordable Care Act’s transparency program, also known as Open Payments or the "Sunshine Act." This included approximately 11.4 million records totaling about $6.5 billion in payments made to 607,000 physicians and 1,121 teaching hospitals by 1,444 reporting entities during 2014. Combined with CMS’s September 2014 release of 2013 data for the period Aug. 1, 2013 through Dec.
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22nd Annual Industry Audit: The Pharma Value PictureA look at the performance of the top 15 companies across seven business-key metrics, including the latest standouts in market capitalization and creating shareholder value.
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Connecting with Customers in Digital SpaceDani Friedland examines what Johnson & Johnson and other pharmaceutical companies are doing to succeed online.
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Update from Washington: FDAMALast November, President Clinton formally signed into law the Food and Drug Administration Modernization Act, sweeping bipartisan congressional legislation focused on reforming the agency's regulation of food, drugs, medical devices and cosmetics. Overall, the new law is considered a triumph by both the Pharmaceutical Research and Manufacturers of America and the Biotechnology Industry Organization because it embraces many of the FDA legislative reform recommendations the industries had proposed to streamline the drug regulatory process.
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The Seven Deadly Sins of Product LaunchesAs more new products vie for payer and prescriber attention, the stakes around launch success are higher than ever. Stan Bernard outlines the key traps to avoid in getting things right - when it really counts.
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Managing the InnovatorInnovative products, and the research and development teams that produce them, are pharma's life blood. So it's no surprise that, according to PE's 2003 Top 50 Pharma, the largest 20 pharma companies alone spent $45.5 billion on R&D.
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Only Connect: Finding the Key to Digital MarketingJim Currie and Baber Ghauri talk to Pharm Exec about making connections that resonate with audiences in a digital world.
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Bottom Line BoosterGiven the colossal revenue generated by just one blockbuster drug, it's no surprise that R&D always finds its way to the top of management's agenda. But now more than ever, pharmaceutical companies can't thrive on discovery alone. Price pressure from the public and private sectors drives companies to create savings through operational efficiencies. One of the biggest areas for financial gain"better management of capital assets"is often overlooked.
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Optimal Pricing StrategiesPricing has never been more of a key issue for the industry than it is right now. Yet, even with the increased importance of pricing strategies, a lack of focus on critical market factors leads many manufacturers to forego profits or increase their vulnerability to aggressive payers. Aligning pricing and contracting can achieve a sustainable competitive advantage-if product managers objectively assess a product's clinical benefits and address two key questions:
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Basic Training: Trends in Learning & Development DepartmentsCan pharma take its talent-and its earning potential-to the next level with employee education?
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Value Extraction: Mining for Gold in Late-Stage ProductsIn the second of three blogs on how digital strategy and a “data culture” can help define and deliver value, David Ormesher focuses on Value Extraction.
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Report Sees Huge Pharma Tax Hike Over Next DecadeA new study of industry tax professionals conducted by PricewaterhouseCoopers predicts higher taxes for Big Pharma in the wake of the global economic downturn. What can your company do to remain competitive and discover new incentives?
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Video Games: Key to the Future of Healthcare?Initial survey and results suggest that health games and virtual worlds bear the potential to be "game changers" by improving education, provoking greater engagement, and engendering positive behavior to enhance health and wellness.
