Welcome to the September 2008 issue of Pharma Marketing News. This is the Executive Summary version. See Article Summaries below.
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Should free samples be banned as some have argued?
"Samples encourage physicians and patients to rely on medications that are expensive, but often not more effective than other available drugs." Prescription Project
What do YOU think? Please take 2 minutes to answer this survey, which asks your opinion on the provision of free samples to physicians.
Results will be used to inform an ongoing Pharma Marketing Roundtable discussion, which you may join. The discussion and survey results will be summarized in a future issue of Pharma Marketing News.
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Generally, I don't ask pharma people about their politics, but this year I am making an exception -- at least online and now through Pharma Marketing News.
Who do you intend to vote for: Obama or McCain?
That's the main question I ask in a new online survey. But I also ask: Who's Better for Pharma: Obama or McCain? Why? More...
PhRMA's Platform for a Healthy America
I am interested in your opinions on healthcare reform because PhRMA, the US drug industry trade association, recently outlined its "Platform for a Healthy America.. More...
PhRMA's New Code on Interactions with Healthcare Professionals
On July 10, 2008, the Pharmaceutical Research and Manufacturers of America (PhRMA) Board of Directors adopted measures to enhance the PhRMA Code on Interactions with Healthcare Professionals. This new Code, which may have a profound effect on how pharma-ceutical companies interact with physicians, will become effective on January 1, 2009.
To better understand the impact of this code on the pharmaceutical industry, Pharma Marketing News surveyed readers between July 10, 2008 and August 7, 2008, and collected comments from pharma-focused blogs and bulletin boards. This article is a summary of the PMN survey results and opinions of experts, bloggers, and anonymous commentators.
Topics include:
Survey Results
Who Benefits from the New Code?
Massachusetts Health Care Cost and Quality Act
Free Gifts to Physicians
What Sales Reps Have to Say
Compliance is the Elephant in the Room
PhRMA vs. ABPI: How Do the Codes Compare?
Does the Code Address the Real Problem?
Support for Continuing Medical Education
Use of Prescription Data
Formulary Committee Disclosure
Commentary by John Mack, author and Editor of Pharma Marketing News
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Building Power Sales Messages
This article is the second in a series of articles focused on improving pharmaceutical sales call effectiveness. It is based on an interview and webinar featuring Ian McKinnon, Senior Vice President, TNS Healthcare, who spoke on building and developing "power messages," which are messages that drive sales results.
This article will help you achieve the following goals:
Build the Best Messages; i.e., create messages with the power to generate prescribing.
Identify Competitive Messages that Hurt; i.e., identify which competitive messages are detrimental to your brand -- and blunt their impact through counter detailing.
Learn how you can adapt messaging in response to market changes, ensuring your brand’s continued growth.
The New Sales Model
Identify Your Competitor’s Weaknesses; i.e., find the Achilles’ heel in your competitor’s message—and act to gain a market advantage.
Understand the Voice of the Competitor Before Entering a Market
Commentary by John Mack, author and Editor of Pharma Marketing News
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Current Issues and Future Prospects for Sales Force Effectiveness
There is no doubt that the face of pharmaceutical sales is going to change in the next five years. With more than one rep per physician, the industry has seen a 25% drop in call productivity over the past 5 years, down a whopping 23% in 2004 alone. Although difficult to give precise numbers, many authorities estimate that the total number of medical sales professionals will drop from a peak of 110,000 in recent years to about 70-80,000 in the next five years. Gone are the days of throwing large numbers of sales professionals at physicians trying to sell the newest product and achieve the needed new scripts and market share.
The industry will have to adapt its sales model to meet the new challenges ahead. This article offers insights on the new sales model and how to achieve it from pharma experts who presented at a recent eyeforpharma Sales Force Effectiveness Summit.
Topics include:
Sales Force Reduction is in Progress
Adapt to the New Reality
Role of Technology and Sales Training
The New Sales Model
TNS Healthcare Survey of What Physicians Value
Low Morale Leads to Low Productivity
Need to Counteract Negative Public Opinion
A New Value Proposition
Sales Professional Still Best Way to Deliver Value
Focus on the Right Success Metrics
Commentary by John Mack, Editor of Pharma Marketing News
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India's Booming Pharmaceutical Market
India is emerging as a global powerhouse in the pharma business with a robust domestic industry. India has an estimated population of 1.16 billion, making it the second most populous country in the world. The healthcare market in India -- which includes pharmaceuticals, healthcare, medical and diagnostic equipment, and surgical equipment and supplies -- is estimated to be US$ 30 billion. Revenues from the healthcare sector account for 5.2 per cent of the GDP and it employs over 4 million people. Private spending accounts for almost 80 per cent of total healthcare expenditure. This article, written by a marketer with firsthand experience, provides an overview of the pharmaceutical markets and promotional practices in India.
Topics include:
Medical Tourism
Booming Indian Clinical Trial Business
Allopathic/Biologicals Market
Herbal/Ayurveda Market
Indian Biotech
Internet vs. Mobile Phone Channels
Aggressive Marketing: Indian Gift Giving
Health 2.0 In India
Commentary by John Mack, Editor of Pharma Marketing News
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Increase Access to Hospital-based Physicians with Virtual Pharmacist or Nurse Reps * LIVE Call-in Podcast and Chat! * September 11, 2008 2:00 PM Eastern * Join host John Mack, Editor, Pharma Marketing News, and guest Greg Lee, RPh, Manager, Clinical Consultant Program, Arista Marketing Associates, Inc. in a conversation focusing on how pharmaceutical companies can improve access to hospital-based physicians by deploying remote teams of clinical consultants vs. traditional sales reps. Q&A Session Included! Call in or particpate in the live chat during the show to ask questions.
Pharma Marketing News is the monthly e-newsletter of the Pharma
Marketing Network(www.pharma-mkting.com). Pharma Marketing Network
is an exclusive marketing information resource and communications
network for pharmaceutical marketing professionals. The Network
includes an interactive e-mail discussion group (PHARMA-MKTING),
an informational web site, and a monthly newsletter (Pharma
Marketing News).
Each issue of Pharma Marketing News is packed with facts,
opinions, and case studies based upon interviews with experts in
the field of pharmaceutical marketing. Highlights of presentations
from industry conferences, contact lists for experts consulted,
and links to references help subscribers keep up to date on best
practices and network with their peers.
Do you wish to contribute an article? E-mail John Mack, editor of
PHARMA MARKETING NEWS,
at johnmack@virsci.com.
On July 10, 2008, the Pharmaceutical Research and Manufacturers of America (PhRMA) Board of Directors adopted measures to enhance the PhRMA Code on Interactions with Healthcare Professionals. This new Code, which may have a profound effect on how pharma-ceutical companies interact with physicians, will become effective on January 1, 2009.
There is no doubt that the face of pharmaceutical sales is going to change in the next five years. With more than one rep per physician, the industry has seen a 25% drop in call productivity over the past 5 years, down a whopping 23% in 2004 alone. Although difficult to give precise numbers, many authorities estimate that the total number of medical sales professionals will drop from a peak of 110,000 in recent years to about 70-80,000 in the next five years. Gone are the days of throwing large numbers of sales professionals at physicians trying to sell the newest product and achieve the needed new scripts and market share.
India is emerging as a global powerhouse in the pharma business with a robust domestic industry. India has an estimated population of 1.16 billion, making it the second most populous country in the world. The healthcare market in India -- which includes pharmaceuticals, healthcare, medical and diagnostic equipment, and surgical equipment and supplies -- is estimated to be US$ 30 billion. Revenues from the healthcare sector account for 5.2 per cent of the GDP and it employs over 4 million people. Private spending accounts for almost 80 per cent of total healthcare expenditure. This article, written by a marketer with firsthand experience, provides an overview of the pharmaceutical markets and promotional practices in India.
