Here's to a better year

Dec/29/2007 04:27 Filed in: Pharma Business
images
I don't believe that any industry has come under more scrutiny and attack then the pharmaceutical industry, although a lot of the negative media was justified. We have become an information driven economy and there is so much information out there it's hard to hide anything from anyone. Zetia data not being released, Zyprexa data on the relationship between diabetes and zyprexa and of course the Vioxx litigation have all opened doors that for too long have remained closed and sealed.



Data can always be interrupted and manipulated to show positive outcomes. Is the glass half empty or half full depends on whom is making that judgement but in order to make such a call one has to see the glass. The pharmaceutical industry has done little to become more transparent when it receives data from ongoing or new clinical trials. Of course this is partly justified because they need to study that data to determine the results. But when data is withheld or hidden that is NOT justified and for this reason more and more stories are appearing on the front page of the New York Times.


What does this mean for DTC? Well most DTC marketers fail to acknowledge that patients have a lot more choices in healthcare and they continue to push messages without considering how consumers are considering the source of such information. I recently found out again that consumers do not trust product.com websites and will go to a variety of independent websites to collect health information. Pharma has responded by updating website once or twice a year and if there is an issue it is usually not addressed on the product website. Avandia tried to address the issue on their website with one of their medical people but again it was on the THEIR website so credibility was nil.


As the Web had grown in importance so has social media. The number of new BLOGS is in the millions and although this author believes that the life-cycle of BLOGS has reached its peak they will still continue to play an important part in patient healthcare choices. For the most part pharma has no idea how to react to social media and is sitting on the sidelines watching and waiting. That's too bad because companies like Pfizer are looking to eliminate the status quo and get products to market faster. Remember though that they were forced into this as the top selling pharma product of all time, Lipitor, is coming off of patent.


So what will happen in 2008? Well that is anybodies guess but I can assure you that one or two major stories will surface about drug side effects or hidden data. This should make lawyers very happy and the cost to settle this litigation can no longer be considered the "cost of doing business". A new crop of CEO's will be assuming the reins this year. Whether they have learned from past mistakes only time will tell but it's time to communicate to the corporation that the old way of doing business is gone and that they have to embrace and nourish an atmosphere of openness if they are to flourish in turbulent waters.
|