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Leqvio, which Novartis acquired for nearly $10 billion two years ago, arrives with high sales expectations. But uptake could be slow as insurers and doctors weigh the drug's safety and cost-effectiveness.
Aduhelm sales totaled just $1 million in the fourth quarter as Biogen struggles to win over doctors and insurers. The company said it would reduce expenses by more than currently planned if Medicare limits coverage.
Michel Vounatsos, Biogen's CEO since 2017, will be replaced as the company "substantially" eliminates the commercial workforce around Aduhelm, which has generated paltry sales in the face of resistance from insurers and doctors.
When visiting a doctor, it’s pretty common to see a doctor going from room to room with laptops. More and more, I am hearing that pharma is NOT part of the digital conversation while talking to other doctors and going to independent health resource sites. It’s no secret that HCPs are using digital more and more.
The demise of the pharmaceutical sales representative has been greatly exaggerated over the years. The current restrictions on face-to-face meetings have exacerbated the trend of sales reps’ reduced access to healthcare customers. The exercise of re-evaluating the sales force should not be viewed as an efficiency drive either.
COVID-19 has been a catalyst for a huge amount of change across the pharmaceutical industry, acting as an accelerant for progress in its use of digital technology and prompting a reassessment of how the sales function should work. The industry faces the dawn of a new age in sales coaching. This white paper explains how to adjust to it.
Selling amid a global pandemic has changed the face of sales forever. This is nowhere more pronounced than for medical device sales teams, who typically schedule regular visits to hospitals and doctors’ offices to create a personal, ongoing connection that drives forward the sales process.
When it comes to pharma marketing, historically companies have had to either market direct to consumers — and trust them to find a doctor and bring up the company’s product with them — or to send sales reps to doctors — and hope they had the right mix of potential customers among their patients. That number is up 17% from 2019.
Novartis’ pharmaceutical sales recovered in the third quarter of this year after an earlier COVID-19 decline, as new drugs like gene therapy Zolgensma gathered pace. . Correcting for currency fluctuations, net sales were flat at $12.3 COVID-19 as well as generic competition also hit sales of cancer drugs.
Today, people don’t see a DTC TV ad and run to their doctor to ask for an Rx. Some DTC budgets are only released when certain sales targets are hit. Still, the gatekeeper continues to be their doctor. Patients trust doctors to recommend drugs that will help them treat chronic health issues. Again this is not true.
5ive: People are interacting with their doctors in new ways. There is no longer a need to go to the doctor to ask for an Rx renewal. The medical industry is shifting from a model that revolves around sales reps to an omnichannel world in which HCPs are able to access information as and when they need it.
SUMMARY: Doctors said they were dissatisfied were marketing emails (46%), telephone sales calls with sales reps (42%), and both webinars and websites (each at 39%) from pharma companies, according to Indegene. It can’t be promotional or sales information and should not be a long document. 100 percent of U.S.
Today consumers don’t run to their doctor after seeing a DTC ad, they do their research, and in some cases, the ads actually help them identify potential health problems. Today, that number is even lower because consumers are more likely to do their research instead of blindly asking their doctor for an Rx.
Novo Nordisk more than doubled its sales targets for obesity drugs to $3.7bn by 2025. But before the company can make Wegovy mainstream, it has to convince doctors to prescribe it and insurers and governments to pay for it. Even if Novo Nordisk can win doctors over, it faces a more significant challenge in convincing reluctant payers.
M3’s Tim Russell and Maxim Polyakov, together with Digital Futureway’s Heather Hancock, discuss new research on how doctor engagement has been altered by COVID-19. COVID-19 forced an unprecedented shift towards the virtual delivery of healthcare, suddenly compelling doctors increasingly to use digital means to care for their patients.
As the contours of a post-pandemic world begin to take shape, those working B2B sales in the life sciences acknowledge that the industry must adapt to some permanent shifts. Even prior to COVID-19, sales teams reckoned with traditional online-only CRM systems that didn’t align well with the needs of health care providers’ customers.
Nearly 70% of HCPs are now digital natives, with no interest in going back to pre-COVID sales engagement methods. Reps should not just be pushing product messages – they should be asking doctors what they need right now and how they can help.”. Pharma needs to listen to what doctors are saying,” Noel says. Market pressures.
COVID-19 has stopped almost all in-person detailing by sales reps” . Even though HCPs value their interactions with sales reps, we believe pharma companies will generally have fewer opportunities to engage HCPs one-on-one than before the time of the pandemic. Will digital replace the sales force?
Doctors, 99% of whom were acting in good faith, determined the total volume of prescription opioids that pharmacies ordered from defendants and dispensed pursuant to those prescriptions,” Faber wrote in his opinion. These were doctors whose only goal was to make money. Once again money rules.
There is still much to emphasis on doing things that deliver sales rather than helping patients. Patients are finally returning to their doctors, and some DTC people really believe they will go to their doctor and ask for an Rx.
Doctors have called for rules to be tightened on coronavirus antibody tests in the UK amid fears that false readings could put the public at risk. The doctors said the tests should not be used without professional support, must give accurate results and be “properly readable”. Feature image courtesy of Rocky Mountain Laboratories/NIH.
Novartis has said that its investment in digital technology has helped it to ride out the worst of the pandemic, although sales of some of its newly-launched products have been affected by a fall in prescriptions and hospital visits. billion and profits growing 2% to just over $3 billion. Some products have been affected, however.
Before COVID-19, 64% of meetings with pharma sales reps were held in person. HCPs said they still want to learn about new treatments and interact with pharma sales reps – they just want to do so in different ways. And, in fact, 61% said they are interacting with pharma sales reps more during COVID-19 than they did before.
According to Valeria Boldosova‘s doctoral dissertation at the University of Vaasa, Finland, using deliberate […]. With the increasing digitalization in manufacturing industries, companies start to integrate big data analytics into business processes and sell smart services.
Biogen will partner with Roche on the development, and potential sale of a promising cancer drug the Swiss pharma is advancing for several types of lymphoma, announcing Tuesday it’s exercised an option to share rights to the treatment. But is it too late for Biogen to stage a comeback with their reputation damaged?
FINDING : Doctors across the globe report a significant increase in the consumption of online medical content compared to pre-pandemic levels. When patients start to return to doctors’ offices we need to ask “how much time will a doctor have to do online consultations with pharma?” Medscape Detailed Findings.
4our: Do they regularly go to their doctor and have a specific HCP they trust? ” Too many DTC marketing people have come from the sales force and have a sales mentality at a time when people don’t want the hard sales pitch. 2wo: Are they more/less active on social media?
A sales representative for a biotech company shared information with oncologists about patients’ attitudes towards treatment options, including the company’s brand. On physician social media sites, doctors are talking about how to treat patients, including a better understanding of patient attitudes.
Analysts were predicting sales of Biogen’s recently approved Alzheimer’s therapy Aduhelm may start to gather a little momentum in the third quarter, but the drug seems to be going into reverse. million in sales for the drug in the second quarter. Biogen reported $1.6
You know how to protect against COVID and flu so ask your pharmacist or doctor about scheduling an RSV vaccine, too.” On the other hand, Bloomberg recently reported that sales of Arexvy slowed down this year due to a decrease in demand, owing to US officials having prioritized access to adults aged 75 or over and more at-risk patients.
People trust doctors and having an established though leader write a monthly column, for example, could drive traffic back to your website. The downside is that it has to be done on Internet time, not according to internal processes. In all fairness, one of the key frustrations for CPG marketers is measuring tactics.
But according to OpenData’s general manager Rebecca Silver, the industry is often challenged with having accurate data on the doctors and the organisations they work for. Times are changing, though, and with the advent of COVID-19 the use of digital technology has increased considerably. C-suite taking notice.
Novo Nordisk’s rollout of obesity therapy Wegovy has been beset by production problems, but the company says these are being resolved and it now anticipates it will help drive obesity sales to 25 billion kroner ($3.69 US sales of the pair same in at 4.9 billion) in 2025, twice its earlier forecast.
An unexpected benefit of healthcare professional (HCP) engagement going digital in 2020 is that sales teams have more opportunities to spend quality time with doctors.
Using the same ads to advertise prescription drugs repeatedly is a waste of money and doesn’t lead to sales. ads; instead, it’s pivoting their efforts away from directly attracting consumers to working closely with doctors since docs hold the key to consumer adoption. DTC marketers seem to ignore this data.
This will be helped by a new 300mg pre-filled syringe and auto-injector have halved administrations, although there is an intravenous option for administration by doctors treating US Medicare patients. But the analysts said that sales growth will continue despite the headwind thanks to “underappreciated” drugs in the late-stage pipeline.
Usually, it’s reaching a certain sales level within a specified time, but that metric is not relevant anymore. Patients and doctors are too bright and do a LOT of research before starting ANY new medication. Product launches are going to need to be micro-targeted to specific audiences.
Millennials value engagement over sales talk and want to build relationships with pharma companies that return their trust. With over a million members, Doximity is the largest professional medical network in the United States , including three-quarters of all U.S. Most said it had, but they still wanted to know more.
Online health seekers are often lost and confused with an abundance of health information, which has led to a heavier reliance on their doctors for recommendations and advice. Patients are becoming healthcare consumers, but their doctor is still the gatekeeper of health recommendations.
The pandemic has had a significant impact on mental health, according to Jefferies, with doctors questioned in a small survey expecting an increase in anxiety and mood disorders. Pipeline IPF drugs from FibroGen, Galapagos and PureTech could also generate sales if approved during the COVID recovery period, the analysts said.
Personal relationships have been the dominant force in sales for generations but the pandemic has ripped up this conveyer belt of convenience. The pharmaceutical industry became stuck in a groove of letting doctor-rep relationships obscure the challenge of delivering complex information in perfectly pitched presentations.
Big Pharma’s reputation has been down in the dumps for years, after a series of scandals involving Medicare fraud, improper payments to doctors, and poorly tested drugs that damaged health. sales until at least 2023 because 257 patent filings stand in the way. Political pressure was mounting in the US, the most profitable market.
According to the figures compiled in the third quarter of last year, pharma brands were projected to spend around $10 billion in 2020 on digital advertising aimed at all groups including doctors, a compound annual growth rate of more than 13% since 2014. They are going to share content ahead of meetings.
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