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As pharmaceutical marketers prepare their brands for the future, there are a number of important ways they can learn from digitally-native brands. Analysing the world of digitally-native brands highlights three standout ways in which parts of their approach could be brought to the pharmaceutical world. Be more agile .
The annual event assembled nearly 1,000 attendees from over 40+ countries across the healthcare ecosystem to learn, network and explore industry challenges, strategic trends and solutions in lifesciences and healthcare.
ODAIA, a lifesciences predictive analytics and commercial insights provider, has secured an investment of $25m in its Series B funding round. This software-as-a-service (SaaS) platform is also used by lifesciencebrands to launch their drugs, therapeutics and vaccines in the markets, using data-driven solution.
In this Pharmaceutical Commerce video interview, Joerg Tritschler, a partner in Simon-Kucher’s lifesciences division, explores the two major strategies big pharmacompanies are employing amid current macro challenges and efforts to offset looming patent losses to blockbuster brands.
PBMs, insurers, pharmacompanies, and hospitals don’t want to give up their profits even if it’s better for the general population. The company has hired former senior health regulators to help it navigate America’s healthcare bureaucracy. . Generic drugs versus branded is also a considerable expense.
In 2023, there were significant advancements and notable trends in the lifesciences. Xtalks compiled a list of its top lifescience news and trends of 2023, which provided readers with the latest developments, information and expert insights across lifescience industries, including pharma, biotech and medical device.
From Bristol-Myers Squibbs monumental acquisition of Celgene to Pfizers recent purchase of Seagen, these deals illustrate the strategies and ambitions driving innovation in lifesciences. Following the merger, Actavis rebranded itself as Allergan, leveraging the strong recognition of Allergans brand.
If pharmacompanies are to live up to their decades-old patient-centric promises then marketing budgets need to move from brands and franchises to omnichannel customer-centric teams, according to one digital transformation leader. Pharmacompanies really need to become patient, but also healthcare professional, centric.
Since the onset of the Covid-19 pandemic, lifesciencecompanies have acted quickly to address the evolving digital needs of healthcare professionals, with mixed success (see graph 1). For the most part, lifesciencecompanies have a relatively good knowledge of what their audiences want and need from them.
Pharmacompanies are producing and distributing more digital content than ever due to the pandemic, meaning the content presented needs to stand out in the crowded digital space to garner attention. Content metrics is the collection of data related to an industry or a company’s content. Read the full Veeva Systems report.
Data is transforming lifesciences, but many organisations are not using its full potential. Lifesciences and the pharmaceutical industry are awash with data. The combination of health and data, he passionately believes, will transform lifesciences. Capturing market share. Better customer experience.
At Fishawack Health, we are always seeking opportunities to enhance our capabilities and help our lifescience clients navigate the new, dynamically changing healthcare environment. Meet closerlook. Meet closerlook.
New survey data from Press Ganey suggests that pharma may be able to get an edge by integrating physician directories into brand websites. But in 2022, with digital communication ubiquitous, pharmacompanies are finding another option: market to consumers, then help them select a physician. A newfound trust in pharma.
Armed with these insights, lifesciencescompanies can develop patient-centric solutions that will lead to more successful products. One mistake many lifescience organizations make is waiting until it’s too late to really start listening to both patient and scientific communities. Read the full article here.
Experts from top lifesciencescompanies discussed strategies for more effectively engaging oncologists at the Pharma Marketing Network’s 2022 Future Forecast on January 25 th. It’s no longer enough to build brand awareness, according to the panelists. Lead with clinical education.
The past two years have shone a spotlight on the UK lifesciences industry. Pharmacompanies are now household names, having been thrust into the public’s consciousness after dominating the headlines through the pandemic. This increased brand recognition clearly acts as a double-edged sword. About the author.
Emma Hyland, VP strategy, commercial content at Veeva Systems, tells us modular content is the most significant wave of innovation hitting the content world in lifesciences, and rightly so because HCPs’ needs and expectations have changed. “There isn’t a one-size-fits-all for how the lifesciences industry creates content.
Two top pharmacompanies have exited the UK’s voluntary medicines pricing agreement in protest at what the industry has said is a “punitive” system of revenue clawbacks, casting doubt on the future of the scheme in its present form.
People who trust pharma are more interested in using the industry’s services – making building confidence in the sector key to realising the potential of patient centricity. However, according to Jennifer Turcotte, pharma advisor in the company’s healthcare and lifesciences division, there was also some good news.
Pharmacompanies generate lots of data and bring in other data to support their actions but not all of it gets used which is where we come in,” says Thomas Kurian, head of new markets at Treasure Data, which powers some of the largest companies in pharmaceuticals. “The Swift Integration. “It We offer best-in-class security.
Gaurav Kapoor, co-founder and executive vice president of Indegene, tells pharmaphorum how pharma can take lessons from the entertainment industry and prepare for the Metaverse to enhance content engagement. Pharmacompanies’ customer communication methods require reimagining as technology progresses. About the author.
Noel says that this idea of empathy and a focus on teamwork will be key in helping companies on their “journey” to achieving digital excellence. You can no longer work in a way where marketing doesn’t speak with sales; brand managers don’t understand what’s happening with field teams, etc. About the interviewee. About Veeva Systems.
Ask nearly any pharmacompany these days if they’re patient-centric, and you’ll probably get an answer in the affirmative. Suchotliff sat down with Deep Dive to discuss the current state of patient centricity in pharma, some of the common foibles and misconceptions, and how pharmacompanies can get themselves on the right track. “I
“We’ve been hearing from some clients that callbacks are a phenomenon for brands where they no longer have exclusivity,” Evans states. Lapolla states one personnel member told him they are excited pharma reps are coming back because they provide valuable information and educational materials. About the author.
Pharmacompanies face many challenges when involving patients in the design of clinical trials – but doing so can have huge benefits further down the line, improving the sustainability and quality of research. There’s also that risk of a perceived coercion or influence. There’s sometimes a bit of a barrier,” he added.
N o one industry is ever quite like another, but there are some valuable lessons for pharma marketing from examining how the financial sector uses technology, builds brands on social channels and approaches digital content. Is there legacy branding? Virtual connections. Content consistency. “As Do they have the right tone?
In October 2022, Xtalks celebrated two decades of bringing diverse stakeholders in the lifescience industry together through first holding physical events, then soon after, hosting exclusively online events. In that time, we’ve gone from running 25 webinars each year to over 400, working with more than 800 expert speakers each year.
While digital media, such as short video formats on social media platforms, is being adopted by many segments and industries, pharma advertising remains more traditional, with print and TV advertising continuing to be favored by pharmacompanies. Outside of pharma, the list included new ads from Revlon and mobile games Dream.
But although it was dubbed a “dangerous game”, some companies came out on top… On 6th April 1999, two companies with similar science-based cultures and a shared vision of the pharmaceutical industry came together to form what’s now considered as one of the top ten pharmacompanies in the world: AstraZeneca.
But what should pharmacompanies and brands do now? As Endpoints reporter Beth Snyder Bulik noted in the article, “Twitter disarray continues, as pharma advertisers extend pauses and look around for options, but keep tweeting.”
Johnson & Johnson is recalling sunscreens from two of its popular brands over concerns of carcinogenic benzene contamination. The company said that while benzene is not an ingredient in any of its sunscreen products, it was detected during routine internal testing in some samples of its aerosol sunscreen finished products.
Pharmacompanies are still spending billions of dollars a year on TV advertising in the US – but many of the industry’s media strategies are based on assumptions from traditional, linear TV, despite TV consumption becoming increasingly fragmented across platforms and devices. Pharmacompanies need to change everything,” says Chase.
With other drugs in the pipeline too, van de Winkel said the company aims to continue to break new ground with next-generation antibody-based therapies. He notes that it already has 21 partnerships with pharmacompanies and will aim to keep more product rights than it did in the past. Role models.
As the world and the UK continues its march out of the pandemic’s shadow, the pharmaceutical and lifesciences sector has been squarely in the spotlight. In the UK, the Government has often said that we are indebted to the astonishing power of lifesciences, especially in the pandemic’s context.
As pharma rethinks its digital strategy and overall engagement model, companies should optimise the format of events to improve upon future events, and there are several ways this can be done. For example, tracking audience engagement will help companies see what works best and where improvements can be made to increase interaction.
In light of this, pharma wasted no time throwing some added cash towards TV ads. Taking advantage of the opportunity, the top ten pharmabrands spent 17 percent more on TV ads in April 2020 compared to just a month prior, raising their monthly ad expenditures from $156 million to $183 million. 1. Rybelsus. million and $18.6
After the war, Pfizer continued to focus on industrial chemicals as much as medicines, producing the citric acid needed for the emerging soft drinks industry, fuelling brands like Coca Cola and Dr Pepper’s expansion in the 1880s. Despite some setbacks, Pfizer remains one of the biggest pharmacompanies in the world today.
Biosimilar and interchangeable products can expand treatment options and lower drug and healthcare costs by offering a cheaper alternative with the same effectiveness; essentially a non-branded version of a biologic such as monoclonal antibodies, proteins and vaccines. percent internationally due to biosimilar competition.
Related: FDA Approves Dong-A ST’s Imuldosa (Ustekinumab), a Stelara Biosimilar Novartis also argued that the MSN generic is not a one-to-one generic of Entresto, given the way its active ingredients are a physical mixture of “two independent salts” versus the brand-name product, in which the ingredients take the form of a “co-crystal.”
Other agency Gold winners were Area 23, an IPG Company, CREATION.co, earthware, MJL, Mole Digital, Wordbird with Touch, Lucid Group and Ruder Finn, Wave Healthcare Communications and Real Chemistry. Brand promotion. This is something which we plan to keep going forward.”. Full list of Gold winners. Mole digital/JCN for Huntleigh.
While “it creates opportunities for organizations to truly look at [the patient] experience from a new lens,” she said, comms teams may find it challenging to change how they typically reach and respond to their audiences, especially as GLP-1 influencers increasingly overtake doctors as the most authoritative voices for interested patients.
Prior to joining Clarify, Gulati was a partner at McKinsey and Company, working with the LifeScience, Medical Products and Health Systems practices in the US and EMEA. Recro – CDMO company Recro announced David Enloe as its new president and CEO. AB2 Bio – Swiss pharmacompany AB2 Bio Ltd.
I personally and strongly feel this is a completely brand new and extremely powerful way of doing this,” says Dr. Rodgers. Funding in the LifeScience Industry vs. Academia. The ability to recruit the right people, especially in terms of data science and software engineers, [is there].
In recent years, social media has evolved into an essential part of pharma operations, for better or worse. Within the lifesciences space, traditional ways of leveraging social media include marketing and spreading awareness of a disease or treatment. Supplementing pharma’s social media strategy. About the author.
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