Pfizer finds success with Vista Rx program
May 1st 2001In a profession in which success is often driven by long hours, the concept of cutting back to a part-time job may seem foreign, but a reduction in hours can sometimes be necessary for even the most dedicated reps. New York-based Pfizer Inc. has responded to this need by creating its part-time field sales force, Vista Rx. Launched in April 1999 as a pilot program with 70 reps, Vista Rx allows sales representatives to work 60% of a full-time schedule while retaining the benefits and privileges of full-time employees, making it the first of its kind in the industry.
Study shows gender differences in progression of HIV to AIDS
May 1st 2001During the first years of HIV infection, women have significantly lower amounts of the virus in their blood than men, according to one of the largest studies ever to examine gender-specific differences in HIV infection. Despite their lower initial viral levels, women suffer the loss of immune cells and develop AIDS just as swiftly as men. The findings, reported in The New England Journal of Medicine (vol. 344, no. 10), lend further support to recent changes in the criteria used to help doctors tailor anti-HIV drug therapy to delay the onset of AIDS.
Global pharma sales top $300 billion
May 1st 2001Westport, CT-based IMS Health has released data from its annual "World Review" report showing that audited global pharmaceutical sales grew 10% in 2000 to $317.2 billion, up from $295.9 billion in 1999. "The IMS Health World Review" tracks actual sales of approximately 90% of all prescription drugs and certain over-the-counter products in more than 60 countries. Proprietary data projection methodologies are used to estimate total global pharmaceutical sales, which grew to $354 billion in 2000.
Spending on consumer ads up in 2000
May 1st 2001Pharmaceutical manufacturers spent $1.9 billion on direct-to-consumer advertising of prescription drugs between January and September 2000, the same amount spent in all of 1999, according to Newtown, PA-based Scott-Levin's "Direct-to-Consumer Advertising Audit." The audit, which surveyed over 4,000 consumers and 3,000 physicians, found that two major therapeutic classes - antihistamines and COX-2 inhibitors - generated 20% ($390 million) of advertising expenditures in the first nine months of 2000.
Study shows Rx drug misuse costs billions
May 1st 2001A new study released in the Journal of the American Pharmaceutical Association (vol. 41, no. 2) estimates that drug misuse costs the economy more than $177 billion each year. And, according to the study, the estimated number of patient deaths resulting from misuse of prescription drugs has increased from 198,000 in 1995 to 218,000 in 2000.
Anesthesiologists report drug shortages
May 1st 2001In an effort to address the declining flow of much-needed medications used during surgery, the American Society of Anesthesiologists is calling on federal regulators and pharmaceutical industry leaders to take action quickly to end the nationwide shortage of anesthetic agents.
Reforms suggested in IOM's second report
May 1st 2001The Institute of Medicine of the Washington-based National Academy of Sciences has released "Crossing the Quality Chasm: A New System for the 21st Century," a follow-up to its earlier report, "To Err is Human." While "To Err is Human" concentrated on the issue of patient safety, the new report offers suggestions for wider healthcare reform.
Annual Reports: Size Doesn't Matter
April 1st 2001Bagsvaerd, Denmark-Niche players with good exposure to US markets are showing strong growth, bucking the notion that size is everything in the pharmaceutical industry. And, if it is true that the industry is recession-proof, that situation is unlikely to change, even in the event of a US downturn.
Partnerships: Bargaining Biotechs
April 1st 2001Uniondale, New York, USA-Thirty-eight companies submitted proposals to develop OSI-774, OSI Pharmaceuticals' lead cancer candidate, making it the most sought-after compound of 2000. The statistic was revealed with some satisfaction by Myrtle Potter, chief operating officer of Genentech, the joint winner-along with Roche, its majority stockholder-at the Economist Conferences' annual pharmaceuticals conference.
Relationship building: A potent tool
April 1st 2001It seems nothing short of amazing to me that the vast majority of pharmaceutical reps bypass what is surely the most potent sales tool that exists. Before I became a provider 22 years ago, I was involved in sales. It was then that I realized that sales are greatly influenced by the nature and quality of the relationships between salespeople and their customers. Failure on the part of pharmaceutical representatives to develop good, strong relationships most often leads to poor prescribing habits on the part of the provider.
Hospital care expenses dropping
April 1st 2001According to "Outlook 2001," a report released by the Boston-based Tufts Center for the Study of Drug Development, the United States today spends nearly three times as much on physician services as it does for prescription drugs, and over four times as much as it does for hospital care. Although prescription drugs, as a share of total U.S. healthcare spending, increased from 5.5% a decade ago to 8.5% today, hospital expenditures declined from nearly 37% to 33% during the same time period, while spending on physician services remained nearly constant.
MCO formularies adding new products
April 1st 2001More than 20 new drugs were added to the Fall 2000 edition of Newtown, PA-based Scott-Levin's Managed Care Formulary Drug Audit. Betapace AF™ (sotalol HCl), a cardiovascular therapy manufactured by Berlex Laboratories Inc., Montville, NJ, was the new product with the highest level of formulary acceptance, according to the audit.
President Bush proposes a 'helping hand'
April 1st 2001President Bush has sent his temporary prescription drug proposal for low-income families - called "An Immediate Helping Hand" - to Congress. The plan would provide block grants to states to cover drug costs for seniors 65 and older who have incomes of up to $11,600, and up to half the drug costs of seniors with incomes of up to $15,000. The plan would also cover drug costs for any Medicare patient, regardless of income, if his or her yearly drug costs exceed $6,000.
Healthcare mergers and acquisitions hit seven-year low
April 1st 2001For the past four years, the volume of healthcare services mergers and acquisitions has always slowed in the fourth quarter. While the fourth quarter of 2000 was no exception, the size of the decline was larger than usual and the number of transactions fell below 100, hitting a seven-year low, according to New Canaan, CT-based Irving Levin Associates Inc. In its fourth quarter 2000 Healthcare M&A Report, the firm points out that there were just 90 healthcare services mergers and acquisitions announced, representing a 30% decline from the third quarter and a 43% plunge from the fourth quarter of 1999.