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- Merck Rejiggers Its Marketing Mix: Will Other Pharma Companies Follow?
Adam Schechter, President of Merck US Human Health, made this statement not long ago at a Goldman Sachs healthcare conference: "Industry must embrace new ways of engaging physicians on their terms." Clearly, physicians are not embracing pharma on THEIR terms. Schechter laid out some details of Merck's 2007-2010 goals.
- Stop Wasting $Millions on Ineffective DTC Ads! Testing Technology Can Help Improve Ads and Engage Viewers
You're wasting hundreds of millions of dollars on ads that aren't delivering your key messages! And it has nothing to do with FDA rules. That’s the opinion of Lee Weinblatt, Founder and Chief Executive Officer of the PreTesting Company. Weinblatt’s company has been measuring the effectiveness of drug ads since 1974. Of course, at that time there were only print ads aimed at physicians in medical journals. Today, the pharmaceutical industry spends in excess of $5 billion per year on direct to consumer (DTC) advertising and billions more on physician ads. This article highlights PreTesting's ad measurement technology and Mr. Weinblatt reveals interesting insights about the major mistakes that pharmaceutical advertisers make with regard to measuring the effectiveness of their ads. The article also presents 17 key findings on How to Create an Effective Drug Ad.
- The Changing Landscape of Physician Interactions: Strategies to Improve Interactions with Key Physicians
Pharmaceutical companies are under increasing pressure to reduce costs, speed the time-to-market for new products and ensure that physicians are informed and educated about their products. Traditional interaction methods, however, are becoming less effective as the quality of interactions between physicians and pharmaceutical representatives have decreased. Brand marketing managers are looking to augment traditional offerings with non-personal selling technologies to reach new segments or healthcare professionals. MERGE Rx recognizes these changes and offers a new generation of Web-enabled software that helps pharmaceutical companies manage physician interactions—including key opinion leader (KOL) management, phaseIV trials, and eDetailing—from a single, secure and scalable access point.
- A Tale of Two Pharma Whistleblower Novels: Big Pharma and Killer Drug
My summer reading included two novels about the pharmaceutical industry that featured industry whistleblowers and/or were written by whistleblowers. The first novel I read was Big Pharma, The Novel, written by John Prieve, a former pharmaceutical executive. The second novel, Killer Drug, is the second by Peter Rost, a well-known whistleblower and former Pfizer executive. Although whistleblowing figures prominently in both novels, the two are as different as night and day. Killer Drug is the night – very dark and lacking depth – whereas Big Pharma is the day – shedding light on real-world pharmaceutical marketing and sales practices. This article is a review of both novels and includes insights from several bloggers and other experts, including Jane Chin.