What Pharma Can Learn From Pixar and Other Lessons
As a member of the pharma industry, I bet you never thought you could learn a thing or two from Pixar or Facebook. But this week, we’re doing exactly that: acquiring valuable, organization-sustaining lessons from two of the big wigs in production and social media. Alongside these insights, we’ll look at the explosion of possibilities that Apple’s Research Kit holds, review changes in branded drug distribution and healthcare’s favoring of partnerships over acquisitions. Finally, we’ll explore the drivers behind lower drug costs and the leaders compelling change in the industry.
1. Why Pharma might be especially interested in ResearchKit
By Jonah Comstock, published on mobihealthnews
The future looks bright for pharma – with ResearchKit monitoring
The initial skepticism around Apple’s release of ResearchKit quickly came to halt, as healthcare watchers began to see its potential for data collection. Clinical trials are one way ResearchKit can aid in collecting data. Some industry analyst foresee the device changing the face of pharma, in that the remote monitoring tool could revolutionize the testing of new drugs. In fact, ResearchKit holds much promise for overcoming regulatory barriers and logistical problems that presently holds pharma back in developing drugs.
2. Health Insurer Mergers Will Pressure Pharma Over High-Cost Drugs
By Ed Silverman, published on The Wall Street Journal
Healthcare mergers may benefit patients through lower drug costs
As the Affordable Care Act prompts insurance companies to diversify their portfolio and make cuts wherever possible, drugmakers foresee an escalation of reimbursement pressures. Alongside the recent and future drug company mergers, cancer drugs in particular are being targeted for price busting, as they are especially costly. The move is a good one, as cancer drugs have largely bypassed cost control measures of Medicare or other health insurers.
3. Partnerships Rather Than Buyouts May Become Big Pharma’s Choice In Collaborating With Biotechs
By Gene Marcial, published on Forbes
Partnerships favored over problematic mergers
Pharmaceutical acquisitions may, by and large, become a thing of the past. Today, many major pharmaceutical companies are opting to collaborate with startups or younger companies. Partnerships are cost-effective and not as complicated. Further, they allow organizations to avoid elaborate regulatory issues. As such, recent collaborations such as the one Celgene made with the newcomer Juno Therapeutics still allow Celgene to work with the cancer technology developed by Juno, but at a fraction of the cost and resources required. Expect to see future partnerships, as large pharma companies follow suit.
4. Resell vs. Direct Models: US Branded Drug Distribution in the Future
By Kathleen Iacocca, published on PharmExec.com
What will the future of branded drug distribution look like?
The new model of branded drug distribution looks different, thanks to the initial progress of the direct-sale model. In the future, the direct model will benefit all stakeholders, as drug wholesalers and manufacturers work together. This offers wholesalers motivation to get on board, as they’re rewarded for their core skill (logistics), while patients also receive perks of improved service and cost efficiencies. A final benefit lies in accessibility of the best and latest products for patients’ needs. Indeed, the model will save wholesalers from extinction via the savvy direct-sale distribution model, but only if they’re willing to cooperate.
5. Pharm Exec’s Emerging Pharma Leaders 2015
Emerging leaders breaking new ground
Meet the news leaders in pharma, the movers and shakers that are changing the pharma landscape. PharmaExec.com announces its list of 17 Emerging Pharma Leaders, with diverse skills and backgrounds. New to the list this year are leaders in the generics and vaccines industries, who represent the strategic side of finance and manufacturing, with organizational design skills to better serve patients, and who have the skillset to customize digital message on many platforms and digital channels.
6. Inspiration For Big Pharma From Pixar And Facebook
By David Shaywitz, published on Forbes
Pixar and Facebook: Surprising motivators for Pharma
Two industry leaders outside of pharma have much to teach us about innovation. Pixar, the producer of multiple successful movie productions has a powerful message: Embrace change. It’s the ideation upon which the successful production company was built, and it’s how pharma can succeed in the future. Instead of latching onto a successful recipe generated from a solitary success, organizations should welcome change, and treat each portfolio products as holding the potential for innovation. Facebook, another leader in market share and a huge employee base, can also teach pharma a thing or two. Namely, its corporate philosophy is that “Nothing at Facebook is somebody else’s problem,” giving employees the bandwidth to come up with solutions. While pharma organizations generally frown upon self-motivated innovation, it is the fuel that powers the engine and can unleash the creativity to power the next great product or process.