Some predicitions about the pharmaceutical industry
May/14/2007 02:32 Filed in: Pharma
Business
1. Pharma brand.product teams will be reduced in size- There is no need for a lot of people across the brand team. P&G managers manage billion dollar brands with and the same will happen in pharma with regulatory, legal and medical personnel working across several functional areas.
2. Pharma sales forces will continue to be condensed - Physicians don't have enough time to meet with the reps so they eventually pharma will realize that they cannot afford such high priced sample deliverers.
3. The Internet will be embraced more for both DTC and DTP initiatives- Sooner or later marketers will wake up and realize the the Web can drive business successfully if used correctly.
4. The FDA will limit DTC but product website will not be considered DTC unless they become overly promotional- Pharma will have to add more credible information and less promotional information to get past FDA reviewers.
5. TV will become less important in the DTC mix.
6. At least 3 CEO's from top 10 pharma will step down in the next two years.
7. Some colleges will offer a medical degree for those people who don't want to practice medicine but who will need an understanding of medical principles in their careers. This will be driven by the need of pharmaceutical companies who will need marketers with more knowledge of medicine to market new drugs.
8. Smaller companies that are able to respond to market place challenges will be more successful and deemed more credible by physicians.
9. Vendors/agencies will be out...strategic partners that have quantitative measurement criteria will be in.
10. More venture capital money will flow into small biotech companies that are developing new drugs with hopes that if successful they will be purchased by big pharma.
11. eMarketing people, people who really deeply understand the Internet, will be in high demand while traditional media people will be looking for work.
12. Pharma will eventually embrace Web 2.0 at a time when other marketers are embracing Web 3.0
13. There will be more reports of medications causing problems with continued use that will lead to more litigation from the bloodsucking legal profession.
14. When Viagra comes off patent sales of Cialis and Levitra will decline rapidly.
15. The days of big salaries and bonuses at pharma will be coming to an end. The pressures on pricing and promotion will continue to force pharma to more performance enhanced compensation models.
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