The Pharmaceutical Industry: Specificity, Challenges, and What You Can Learn from this Book, Innovation in the Pharmaceutical Industry: The Process of Drug Discovery and Development, Portfolio Management in New Drug Development, Grassroots Innovation: A Promising Innovation Paradigm for Pharmaceutical Companies, New Challenges in Alliance Portfolio Management, Evaluating the Impact of Treatment Effectiveness and Side Effects in Prescribing Choices, The Successful Launch and Diffusion of New Therapies, Pharmaceutical Lifecycle Extension Strategies, Patent Expiry and Pharmaceutical Market Opportunities at the Nexus of Pricing and Innovation Policy, Risk Assessment: The Consumer as an Intuitive Statistician, Efficacy Expectations and Adherence: Evidence of Consumer Biases and Heuristics in Pharmaceutical Marketing, Factors Affecting Adherence to Governmental Health Warnings and the Case of Over-the-Counter Cough and Cold Medications (OTC-CCM) in Children Under Two, Patient Empowerment: Consequences for Pharmaceutical Marketing and for the Patient–Physician Relationship, Leveraging Peer-to-Peer Networks in Pharmaceutical Marketing, Leveraging Social Media in the Pharmaceutical Industry, Understanding Sample Usage and Sampling as a Promotion Tool: State of Industry Practice and Current Research, Pharmaceutical Detailing Elasticities: A Meta-Analysis, Modeling the Effects of Promotional Efforts on Aggregate Pharmaceutical Demand: What We Know and Challenges for the Future, Direct-to-Consumer Advertising of Pharmaceuticals: An Integrative Review, How DTCA Influences Prescription Pharmaceutical Markets, Spillovers and Other Externalities in Pharmaceutical Marketing, Closing the Marketing Strategy-Tactics Gap: An Institutional Theory Analysis of Pharmaceutical Value Chain. Several Big Pharmas have also openly stated that they have or will move towards Open In the context of the pharmaceutical industry, killer acquisitions – those that eliminate potentially promising, yet likely competing innovation– will potentially have a harmful impact on society, in terms of choice and thus pricing and in terms of societal wellbeing. However, a number of case rulings during the past two years – most notably Santen in the summer of 2020 – have dramatically reduced the eligibility of products for SPCs, bringing potentially significant and lasting consequences for innovation in the pharmaceutical sector. Pharma executives say big data, radio frequency identification, automation and other innovations used in supply-chain tracking and tracing will be the most important digital innovation for their companies in the next five years, according to a recent Bain & Company survey. Payors and governments have an ever sharper focus on managing costs while delivering improved patient outcomes, putting an even greater onus on pharma companies to demonstrate the value of their drugs in the real world—not just in randomized controlled trials—if they are to retain market access and premium pricing. JavaScript is currently disabled, this site works much better if you ... marketing and innovation. With AI, pharma companies can explore and develop unique marketing strategies that promise high revenues and brand awareness. “You can’t innovate by looking at the best thing someone else did in the pharma industry and copying it. Our ongoing mission is to foster a community for the pharmaceutical and healthcare marketing ecosystem designed to understand the challenges and trends of today, while collaborating to shape the future. Part of Springer Nature. pharmaceutical innovation value chain becomes more porous where every contact is treated as a potential part of the innovation ecosystem. innovation in pharma Pharmaceutical industry perspectives on the Global Innovation Survey 2013: The insatiable appetite of society, investors and patients for pharmaceutical innovation is linked to the breakthrough advances in science and technology by the innovation process. The pharma company was interested because the rare disease being addressed was a precursor to cancer, and the large pharma company saw funding the innovation as an opportunity. The result is a comprehensive, state-of-the-art resource that will be of interest to researchers, policymakers, and practitioners, alike. That is to say, most patients will now use search engines to find information or solutions relating to … suggestions for further research by scholars and students. By creating targeted, value-driven branded content that offers prospective or current patients insight into relevant information… ...you'll find more products in the shopping cart. PM360 embraces diversity, gender equality, ideas, and innovation that advance bold ideas in pharmaceutical marketing. Pharma products then pass on this benefit to end customers, thus bringing to market inexpensive medicines. Pharmaceutical firms are increasing investments in R&D portfo-lios in lieu of this “patent cliff,” evidenced by the growth in the number of new drugs 1 A new molecular entity (NME) is a medication containing an active pharmaceutical ingredient (API) that has not previously been approved for marketing in any form (Munos 2009). Pharma IQ: Many believe that AI will be the solution to the productivity problem in R&D. Innovation Map: Top 10 Pharma Industry Trends. McKenna: The pharmaceutical industry has a productivity cloud hanging over it. 185.148.131.207, Min Ding, Min Ding, Jehoshua Eliashberg, Stefan Stremersch, Stefan Stremersch, Min Ding, Songting Dong, Jehoshua Eliashberg, Arun Gopalakrishnan, Ulrich A. K. Betz, Nuno Camacho, Michael Gerards, Stefan Stremersch, Tat Chan, Chakravarthi Narasimhan, Ying Xie, Vardit Landsman, Isabel Verniers, Stefan Stremersch, Veronika Ilyuk, Caglar Irmak, Thomas Kramer, Lauren Block, Talya Miron-Shatz, Glen M. Doniger, Yaniv Hanoch, Shrihari Sridhar, Murali K. Mantrala, Sönke Albers, Jaap E. Wieringa, Ernst C. Osinga, Enar Ruiz Conde, Peter S. H. Leeflang, Philip Stern, Erasmus School of Economics, Erasmus University Rotterdam, https://doi.org/10.1007/978-1-4614-7801-0, Springer Science+Business Media New York 2014, International Series in Quantitative Marketing, COVID-19 restrictions may apply, check to see if you are impacted, The Pharmaceutical Industry: Specificity, Challenges, and What You Can Learn from this Book, Innovation in the Pharmaceutical Industry: The Process of Drug Discovery and Development, Portfolio Management in New Drug Development, Grassroots Innovation: A Promising Innovation Paradigm for Pharmaceutical Companies, New Challenges in Alliance Portfolio Management, Evaluating the Impact of Treatment Effectiveness and Side Effects in Prescribing Choices, The Successful Launch and Diffusion of New Therapies, Pharmaceutical Lifecycle Extension Strategies, Patent Expiry and Pharmaceutical Market Opportunities at the Nexus of Pricing and Innovation Policy, Risk Assessment: The Consumer as an Intuitive Statistician, Efficacy Expectations and Adherence: Evidence of Consumer Biases and Heuristics in Pharmaceutical Marketing, Factors Affecting Adherence to Governmental Health Warnings and the Case of Over-the-Counter Cough and Cold Medications (OTC-CCM) in Children Under Two, Patient Empowerment: Consequences for Pharmaceutical Marketing and for the Patient–Physician Relationship, Leveraging Peer-to-Peer Networks in Pharmaceutical Marketing, Leveraging Social Media in the Pharmaceutical Industry, Understanding Sample Usage and Sampling as a Promotion Tool: State of Industry Practice and Current Research, Pharmaceutical Detailing Elasticities: A Meta-Analysis, Modeling the Effects of Promotional Efforts on Aggregate Pharmaceutical Demand: What We Know and Challenges for the Future, Direct-to-Consumer Advertising of Pharmaceuticals: An Integrative Review, How DTCA Influences Prescription Pharmaceutical Markets, Spillovers and Other Externalities in Pharmaceutical Marketing, Closing the Marketing Strategy-Tactics Gap: An Institutional Theory Analysis of Pharmaceutical Value Chain. The pharmaceutical industry is one of today’s most dynamic and complex industries, involving commercialization of cutting-edge scientific research, a huge web of stakeholders (from investors to doctors), multi-stage supply chains, fierce competition in the race to … Given the fact that the pharmaceutical industry is a sales-driven sector, AI can be a handy tool in pharma marketing. Companies will need to demonstrate that their brand adds value to patients and they will have to offer a package of products and health services that the market not only wants and needs but is willing to pay a premium for. This model would also benefit end consumers and caregivers. Embracing Technology and Innovation in Digital Marketing – Pharma and Healthcare. Marketing and innovation produce results; all the rest are costs. The pharma industry is no longer being rewarded for incremental innovation, me-too products and selling the most pills. Not affiliated The pharmaceutical industry is one of today’s most dynamic and complex industries, involving commercialization of cutting-edge scientific research, a huge web of stakeholders (from investors to doctors), multi-stage supply chains, fierce competition in the race to market, and a challenging The quest for innovation is a major driving force in pharma. When compared with other sectors, such as financial services, retail and travel, pharma and healthcare has been relatively slow in its digital transformation journey. November 2018 10:10. But there’s still room for some serious innovation as we enter a new decade—particularly in the specialty care arena, one expert says. In the early 1990s, a paper was published by the head of research at Roche on the innovation deficit in pharmaceutical research. That by definition is not innovation. Open-innovation collaborations such as crowdsourcing, PPP, and corporate partnerships would help pharmaceuticals reduce their overheads. Not logged in With those insights, one can develop drugs with labels that are more likely to meet patients’ needs, commercialize them in a more patient-oriented way, and perform clinical trials more efficiently. Over 10 million scientific documents at your fingertips. Through online communities, mobile applications and a wealth of web content, people now have wide access to a range of pharma-based insights. (gross), © 2020 Springer Nature Switzerland AG. Pharma marketing refers to the marketing of drugs and medical devices by private and public organizations to doctors, clinicians and consumers. The pharmaceutical industry is one of today’s most dynamic and complex industries, involving commercialization of cutting-edge scientific research, a huge web of stakeholders (from investors to doctors), multi-stage supply chains, fierce competition in the race to market, and a challenging regulatory environment. price for Spain The result is a comprehensive, state-of-the-art resource that will be of interest to researchers, policymakers, and practitioners, alike. Innovation in Pharma Marketing on Vimeo Join In short, data is now an important element for effective marketing and measuring these results is just as important. The offbeat thinking is all about seeding innovation. 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