Top Pharma Stories to Close off the Summer
What’s better than a sunny last-of-the-summer day? Exciting ideas driving the Pharma industry. With many setbacks along the way, it seems Pharma is on the cusp of a data solution that will promote growth, while out-of-the-box innovation is fueling startups. Patient-engagement strategies are also tipping the scales, helping Pharma finally connect with patients and consumers. So strap on your seat belt and get ready for the ride!
1. The Road to Digital Success in Pharma
By David Champagne, Amy Hung, and Olivier Leclerc, published on McKinsey & Company
Driving trends lead to digital opportunities
Pharma companies have a unique role to play in the evolution of digital healthcare – but only if they know which cards to play. Initiatives, such as outcome-based care, are one such trend helping to drive the digital revolution. Other innovations to capitalize on include the engaged patient, watching closely for new competitors, and gauging product performance and gleaning insights. With an eye on these driving forces, Pharma companies can take advantage of digital opportunities such as providing personalized care, engaging with patients and physicians on multiple channels, using advanced analytics, and responding in real time.
2. Predicting Pharma’s Data-Driven Future
By Dharma Subramanian, Published on Pharmaceutical Commerce
Data-driven applications are key to Pharma industry growth
Digital success for Pharma looks a lot like LinkedIn or Facebook, both great examples of applications that are easy to use and driven by data interactions. Data-driven applications can support R&D teams, as well as sales, marketing and compliance departments. As data is pulled from sources across the organization, it can inform Pharma-specific applications based on actionable insights. With this type of data-driven application, Pharma can seamlessly integrate data, manage the volume of data and gain the right insights upon which to get a 360 view of the customer and grow their business.
3. Pharma Gets Social: Ten Tweet Chats Transforming Pharma Digital Engagement
By Daniel Ghinn, published on pharmaphorum
Twitter chats driving Pharma engagement
Twitter is becoming the central meeting place for more than just casual tween chats. The platform is ideal for business chats, with users gathering around a unified hashtag to engage in real-time conversations. Pharma has taken notice, and started its own centralized chats. The Pharma industry should capitalize on the unique features the platform offers to gather and engage like-minded patients, prospective customers and medical professionals.
4. Is It Finally Time for Pharma to Change the Way It Uses Facebook?
By Zoe Dunn, published on Medical Marketing & Media
Turning Facebook Pharma policy on its head
For years Pharma brand pages have been able to turn off comments on Facebook to comply with FDA marketing requirements. However, Facebook appears to be toying with the idea of reversing its leniency for healthcare industry pages, since it can’t scan the comments to inform ads. While Pharma may be balking at the idea of having to regulate comments, some experts believe it’s time to make the change. Without the ability to comment, Pharma is missing a significant opportunity to engage consumers, building relationships that would lead to new customers.
5. GRANTS4APPS: 3, 2, 1, GO!
By Teresa Bau, published on mHealth
Bayer driving innovation
Pharma is getting support from investors to promote innovation. For a long time, Pharma has suffered from regulations that cause it to be slow to move and respond. Now, with Bayer’s Grants4Apps program, it’s inviting investors to partner with Pharma startups to encourage innovative ideas. The winning teams will spend 100 days in the Bayer accelerator, with access to mentors and specialists. At the end of the session, the teams, who will have developed a business model and bettered their Pharma solution, will present their products to the venture capitalist. This type of “outside the box” thinking by Big Pharma may very well be what will push this industry through challenges and hurdles it faces in today’s complicated market.