5 Trending Pharma Articles to Top Off Your Week
Golden Goose: “A legendary goose that laid one golden egg a day and was killed by its impatient owner, who wanted all the gold immediately”. That same golden goose…if it was yours… would you give it away?
According to Dr. Andree Bates, Pharma is letting go of the goose and the gold by giving away its value: drugs. Bates brings in the analogy of computer company, Dell, which was nearly and silently almost put out of business by Asus. According to her, the winners of the future in Pharma will be the companies that own the combined diagnostics and therapeutics puzzle for their conditions. Diagnostics, themselves, may not be big money, but they will enable the clinical trials to be fast and cheaper, allow the drug to work in 99% of targeted patients, and have the payers approve them.
This week’s compile is a tough pick with many insightful articles of your choosing. We decided to cover the new “fountain of youth” emerging market, cybercrime and healthcare, new challenges awaiting healthcare management and 2014’s best selling drugs rankings.
1. Rethinking Pharma Part 3: Why Pharma are Giving Away the Golden Goose
By Dr Andree Bates, published in EyeforPharma
Someone once said ‘No company ever downsized its way to greatness.’ According to Bates, the traits that are vital to long-term success—innovation, customer loyalty, etc.—aren’t achieved by reducing staff. Yet all Pharma appears to be in downsizing mode. A report by the Institute for Policy Studies in 2012 reported that 119,000 pharmaceutical jobs have been lost since 2008. In the 3rd installment of Rethinking Pharma, Bates relates to value creation and why she thinks Pharma is giving its value away.
2. Pharma Companies Switch Gears: A New Market Emerges Called ‘The Fountain Of Youth’
By Reenita Das, published in Forbes
Allergan’s Botox was the first product to change the face of women and even men in the last decade. Today we are seeing a whole suite of companies coming up with pharmaceutical potions to keep people feeling and looking young forever. The search for a magical elixir to prolong life does not seem to be all that “magical” and impossible with current technology. A host of companies from Novartis to Google are on a mission to conquer aging. Read on to discover the enormous opportunities that lie ahead for industries targeting the aging population.
3. Healthcare Data Is Equivalent To Fine Dining For Cyber Miscreants
By Reenita Das, published in Forbes
On February 4, Anthem Inc., the US second-biggest health insurer, said hackers broke into a database containing personal information for about 80 million of its customers and employees in what is likely to be the largest data breach disclosed by a health-care company. Investigators are still determining the extent of the incursion and Anthem said it is likely that “tens of millions” of records were stolen. The health insurer stated the breach exposed names, birthdays, addresses and Social Security numbers but doesn’t appear to involve medical information or financial details such as credit-card or bank-account numbers, nor are there signs the data is being sold on the black market.
Frost & Sullivan’s recent “Top Trends for 2015: Healthcare is Headed Down a New Road with New Rules,” webinar predicted that, “In 2015 a major security breach on the scale of high-profile attacks that impacted Sony and Target will be incurred by a national healthcare network.” Unfortunately, this is now a reality. Find out why cyber miscreants love healthcare.
4. The Biggest U.S. Health Care Challenges Are Management Challenges
By Paul Merrild, published in Harvard Business Review
Few health care leaders would disagree that the U.S. health care industry needs to drastically change. But does it have leaders in place who have the courage to raise their hand and lead the charge? In the classical theory of disruption, reform from within is almost impossible. According to Merrild, it is hungry, fast-moving new entrants that upend slumbering incumbents. Yet, it seems that the market is seeing an alternative: could provider groups themselves be preparing to do the disrupting?
5. FirstWord Lists – The Best Selling Drugs in 2014
By Simon King, published in FirstWord Pharma
It is no surprise that biosimilar leaders are emerging. The 10 biggest selling pharmaceutical products in 2014 generated combined sales of $83 billion, of which $60 billion was generated by seven biologic drugs, most of which will lose exclusivity for key patents by the end of the decade. The ‘value’ of this commercial opportunity has long been touted by biosimilar developers and, of course, only represents one part of the equation. Both the development and regulatory environments continue to provide a multitude of challenges. Read this article to discover the best selling drugs 2014 ranking.