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Strategy: Why Big Pharmas Do What They Do -- And How Silicon Valley Might Help Them Think Differently - Forbes

Strategy: Why Big Pharmas Do What They Do -- And How Silicon Valley Might Help Them Think Differently - Forbes | Pharma Strategic | Scoop.it

Medical product companies that figure out how to embrace and most effectively apply emerging analytic and digital health technologies, and think creatively about new risk-sharing business models, will be best positioned to deliver.

Pharma’s Underlying Challenge

The fundamental problem the industry is wrestling with is this: car companies know how to make a car, soft drink companies know how to make soda, yet drug companies really have no reliable way of knowing where their next products are going to come from, and in a sense, have to start from scratch each time – at least if they want to make radically new, “first-in-class” products that offer unprecedented, dramatically better benefits to patients.

The problem is, these products are incredibly difficult to come by.  Disease remains very complicated, and it’s exceptionally hard to devise a new molecule that durably interferes with a pathological process yet leaves the rest of the body alone; the technical risk, as it’s called, is ridiculously high.

Not surprisingly, strategies that involve tweaking existing products, or reformulating them in a new way (e.g. liquid Ritalin, as Bruce Booth has discussed), remain popular because they at least reduce the technical risk, and may offer an incrementally – and often meaningfully — better option for patients (see here).  However, an increasingly difficult payor environment is likely to make this approach ever more challenging, materially elevating the commercial risk.  Proving an incrementally better product enhances value can be expensive (because it takes many patients to demonstrate a small difference in an active comparator trial), and of course, risky as well.


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Social Media Rules: The FDA Crackdown

Social Media Rules: The FDA Crackdown | Pharma Strategic | Scoop.it

Studies have shown that 60% of Americans turn to the internet for medical advice. It’s obvious how social media naturally seems like another method pharmaceutical companies can quickly and easily advertise to consumers. Are pharmaceutical companies alone in trying to tap into our unconscious? Would you be surprised if I told you that you could be inadvertently perpetuating such behavior?  

The U.S. is one of the few countries that permits direct-to-consumer advertising of pharmaceuticals. We’ve all see the ads that ramble on about all the potential risks and side effects associated with various medications. No doubt you’ve probably been bombarded with flashy sidebars on the internet promoting one medication or another — some creepily relevant to our own medical conditions. As social media became a part of life for many of us, pharmaceutical companies were quick to exploit the medium. Platforms like Twitter are free to operate and far-reaching. Only until recently has there been a greater effort to regulate the content being disseminated to the public.

In this day and age, Big Pharma might not be quite as cavalier as you might expect. A quick search on Twitter says it all. Almost every major drug company has a verified Twitter account. While companies are generous in providing general medical knowledge or the update here or there that says the company is actively researching condition X, seldom do you find anything plugging a specific product.

Direct-to-consumer advertising on social media has revealed many challenges. Sometimes 140 characters simply isn’t enough to convey all the benefits let alone the black box warnings a drug may possess. The “Twitterverse” is an international community, and messages applicable to one population could wrongfully passed on to another. Some medications banned by one country may be promoted by individuals and corporations of another country. In fact, Glaxo Smith-Kline and AstraZeneca reportedly have disclaimers on their Facebook sites saying that information is “intended for US residents/consumers only.”

But how often are pharmaceutical companies really harping on their own products on Twitter? More likely than not, individuals are weighing in with their micro-reviews on Twitter. Some would argue that these posts could impact consumers. Bad experiences often motivate people to say something. What about the positive reviews? Who is really behind the tweets gushing about Medication XYZ?

So far, individuals aren’t being held accountable for claims they make. Should the FDA as individuals to report their disclosures? Should the FDA be verifying all social media posts that mention a drug? Something tells me there no room in the FDA budget for this. Others would go as far as to argue that this violates the first amendment.

In June 2014, the FDA released suggested guidelines to regulate social media posts by drug companies. Essentially for every post claiming benefit of a certain medication, the FDA is demanding equal reporting of risks and a link to more information to go with it. Sounds impossible to squeeze all that into 140 characters, and perhaps it these guidelines were meant to deter drug companies from using social media altogether to promote their products.

Let’s take a step back to ask ourselves a few questions:

Do you think the FDA is being fair to drug companies, or should we be hearing about the risks/benefits of toilet paper or have the nutrition facts be mandated for a tweet promoting candy bars? Do you think such regulations are resulting in adverse effects by deterring some individuals from learning about some medications? As mentioned earlier, should individuals be subjected to the same rules? Should all our tweets be regulated as potential advertisement for whichever product is mentioned?

To read the other posts in Austin Chiang’s Healthcare & Social Media series, click here.

 


Via Plus91, Rémy TESTON, Antoine POIGNANT, MD, EuroHealthNet
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What & Why People Share On Social Media (Infographic)

What & Why People Share On Social Media (Infographic) | Pharma Strategic | Scoop.it

What people are sharing and how they’re sharing it is changing fast. A new infographic from Go-Gulf, a web design team based in Dubai, has gathered the latest data, which is now available in this newly released (July 2014) social media infographic. Here are the highlights…


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Nicoletta Gay's curator insight, September 8, 1:23 AM

Infographic, highlights and useful social media strategy takeaways.

Lee Erpelo's curator insight, September 11, 12:16 PM

Some rules change, but this info shows that photos still perform better than text links on social networks.

In addition, marketers should pay attention to the reasons behind what drives people to share. You can definitely guarantee more views and more shares when you put more effort in understanding the motivations people have to share a specific piece of content.

ManufacturingStories's curator insight, September 15, 4:54 AM

For more resources on Social Media & Content Curation visit http://bit.ly/1640Tbl

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Microsoft Corporation (MSFT) Announces Collaboration with TracFone For A New Mobile Health Management Solution

Microsoft Corporation (MSFT) Announces Collaboration with TracFone For A New Mobile Health Management Solution | Pharma Strategic | Scoop.it

Microsoft Corporation (NASDAQ:MSFT) is partnering with TracFone, a telecommunication company, to provide a new mobile health management solution for high-risk and underserved population. This service would be provided through insurers and other providers. The company revealed this in a press release on its website recently.


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Can Wearable Technology Put a Dent in Parkinson's Disease?

Can Wearable Technology Put a Dent in Parkinson's Disease? | Pharma Strategic | Scoop.it
Intel is teaming up with the Michael J. Fox Foundation to put a dent in Parkinson's disease with wearable technology and big data.

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Josepf J Haslam's curator insight, August 14, 10:54 AM

#BackToTheFuture Technologies today?

norm lawlor's curator insight, August 15, 8:29 AM

http://normlawlor.blogspot.ca

Paulo Duarte's curator insight, August 30, 2:11 AM

Parkinsons deasise

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Pact app pays cash for living healthily, provided by members who don't

Pact app pays cash for living healthily, provided by members who don't | Pharma Strategic | Scoop.it

Pact uses cash incentives to help successful users achieve health goals, paid for by members who fail to observe their commitments.


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Andrew Spong's curator insight, August 6, 5:01 AM

I can't decide whether Pact's proposition is akin to a pyramid selling scheme in a health setting, or whether its stimulation of the most primitive of instincts (for example greed, or the fear of losing face) can be drivers of health behaviour change.

 

I'd suspect that it will merely reward those who already observe good health habits, and penalise those willing to pay to discover that willpower cannot be outsourced.

 

It'd be interesting to see the emergence evidence around its health impact, however, particularly with reference to the ability to change health behaviours rather than merely reinforce existing ones.

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Apple HealthKit: watches, health sensors and more

Apple HealthKit: watches, health sensors and more | Pharma Strategic | Scoop.it
Apple has filed for HealthKit trademarks in the U.S. and Europe, with mention of watches, fitness sensors and more

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Sandy Williams Spencer's curator insight, August 6, 8:02 AM

I would love to have this little item. With COPD, I'm monitoring 02 and Heart Rate quite often. On the treadmill, it's constant monitoring. 


And when taking a walk or working around the house, if I'm not wearing 02-- I'm monitoring the need for it. 


When you have an illness of any sort, monitoring vitals is definitely important.  And the ability to send a quick message to friend or family member for help when trouble arises-- is imperative. http:///ginghamcountry.com/living

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How mobile became mighty in healthcare

How mobile became mighty in healthcare | Pharma Strategic | Scoop.it
Without a doubt, 2014 will be declared the year mobile became mighty in healthcare. No matter where in the world you live, whether you are talking about patients, consumers, or healthcare providers, mobile is revolutionising the future of healthcare – so much so, that it's worth taking a closer look at 10 powerful trends emerging throughout the mobile health space. We'll also be showcasing our findings on mobile health user experience at the Mighty Mobile seminar at the inauguralCannes Lions Health festival.

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The Wearable Tech Ecosystem in One Easy View (infographic)

The Wearable Tech Ecosystem in One Easy View (infographic) | Pharma Strategic | Scoop.it
After weeks of research, Wearable World has created an Infographic of The Existing Wearable Technology Landscape, which indexes over 160 different companies within the ecosystem.

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Felix Jackson's curator insight, May 14, 1:55 AM

Very complex infographic that nicely shows how difficult it is to categorize the existing wearable landscape... despite what the authors like to think they did... ;)

Eularis's curator insight, May 15, 12:49 AM

The Wearable Tech Ecosystem in One Easy View (infographic) | http://venturebeat.com/2014/05/12/overview-of-the-wearable-technology-ecosystem-infographic/

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More than three-quarters of patients think pharma companies have a responsibility to provide information and services that help patients manage their own health

More than three-quarters of patients think pharma companies have a responsibility to provide information and services that help patients manage their own health | Pharma Strategic | Scoop.it

More than three-quarters (76 percent) of patients think pharmaceutical companies have a responsibility to provide information and services that help patients manage their own health.

 

Nearly as many respondents, 74 percent, indicated that the most appropriate time to initiate outreach is when they start making a medication, although half of the respondents are open to receiving assistance after they have begun a course of treatment or are considering switching.

 

The report also indicated that patients are generally very satisfied with patient services when they get them—and are willing to give more personal health information to obtain more relevant services.

 

Of the patients who receive services, a sizable majority (70 to 80 percent) express satisfaction with all the services used.

 

In addition, patients appear to place high importance on services, providing a strong indication that services are viewed as a "should offer" not a "nice to offer" add-on—dependent on the type of medicine or treatment.

 

Patients are also ready and willing to share information in order to receive improved or free services, the survey found.

 

Eighty percent of patients are proactively seeking information about the medicines they are taking, and more than 70 percent seek out information on health care services related to their conditions.

 

Nearly four in 10 (38 percent) want pharmaceutical companies to reach them through social media—a significantly higher percentage than what they want from physicians, pharmacists, friends and family.

 

"There is a clear need for pharmaceutical companies to understand patient communication preferences and customize channels and content to provide relevant customer experiences at scale," the report said.

 

 


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Surveying the therapeutic areas pharma participates in on facebook, YouTube and Pinterest

Surveying the therapeutic areas pharma participates in on facebook, YouTube and Pinterest | Pharma Strategic | Scoop.it

Many companies have created online forums as support networks for patients and their loved ones. Customized online communities can greatly impact patients, but many of these support groups can also be found on mainstream platforms like Facebook.

 

The article show popular therapeutic areas that are represented on pharma-sponsored Facebook, YouTube and Pinterest sites, according to secondary research conducted by CEI analysts.

 

In these graphics, the larger the circle, the larger a presence the therapeutic area has on the social media platform. These data suggest that central nervous system (CNS), diabetes and oncology patients have many options for online support. But there are also options for endocrinology, respiratory and immunology patients – to only name a few.

 

Facebook is shown above.

 

YouTube: http://www.cuttingedgeinfo.com/wp/wp-content/uploads/Figure-2-YouTube-TA-presence-JPEG-400x299.jpg

 

Pinterest: http://www.cuttingedgeinfo.com/wp/wp-content/uploads/Figure-3-Pinterest-TA-presence-JPEG-400x300.jpg

 

 


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EUROPA - Press release - Healthcare in your pocket: unlocking the potential of mHealth

EUROPA - Press release - Healthcare in your pocket: unlocking the potential of mHealth | Pharma Strategic | Scoop.it
Sven Awege's insight:

he European Commission is today launching a consultation on #mHealth or mobile health, asking for help in finding ways to enhance the health and wellbeing of Europeans with the use of mobile devices, such as mobile phones, tablets, patient monitoring devices and other wireless devices.

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Rowan Norrie's curator insight, April 11, 1:54 AM

Links to useful European strategy and green papers on eHealth

 

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Roche joins forces with PatientsLikeMe | Pharmafile

Roche joins forces with PatientsLikeMe | Pharmafile | Pharma Strategic | Scoop.it
PatientsLikeMe has set up a five-year agreement with Genentech, Roche’s biologics arm, to allow the firm access to patients’ real-world experience with disease and treatment.
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A DOCTOR’S PRESCRIPTION FOR SOCIAL MEDIA

A DOCTOR’S PRESCRIPTION FOR SOCIAL MEDIA | Pharma Strategic | Scoop.it
SOURCE
MARCH 31, 2014 



As an experiment,  I immersed myself in social media for the past three months.  I started this blog, joined Twitter, LinkedIn,
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Heart and Breathing Rates Tracked with Google Glass

Heart and Breathing Rates Tracked with Google Glass | Pharma Strategic | Scoop.it
A new way to track heart and breathing data, demonstrated with Google Glass, could heighten interest in wearable sensors.
Sven Awege's insight:

Really interesting bit about ballistocardiogram!

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The iPhone 6 May Come With A Special Chip Just For Measuring Your Health

The iPhone 6 May Come With A Special Chip Just For Measuring Your Health | Pharma Strategic | Scoop.it
The iPhone 6 could come with a separate processor for analyzing your health data, such as your burned calories and blood sugar.

Via Alex Butler
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Art Jones's curator insight, August 26, 8:07 AM

#mHealth #QuantifiedSelf

Insights to Health Clinic's curator insight, August 26, 9:22 AM

What tools are you using to help manage your health?

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Moving the Mobile Needle: Majority of HCP's Use Mobile Phones For Professional Purposes

Moving the Mobile Needle: Majority of HCP's Use Mobile Phones For Professional Purposes | Pharma Strategic | Scoop.it
If you've been to a doctor's office recently, you may have noticed some changes. Sure, the stethoscope and tongue depressors are still there. But now, patients

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Google Glass App Connects Patients With Specialists Quickly

Google Glass App Connects Patients With Specialists Quickly | Pharma Strategic | Scoop.it

Navigating the healthcare system as a patient can be a real pain in the aspirin. You've got your annual checkups, and if anything looks fishy, bring on the wild goose chase of specialist visits. If you've ever been referred to a specialist, you've likely experienced weeks of waiting to get into his or her office, and then sat dumbfounded when you went through roughly the same procedure as you had with the first doctor, all to find out, "You're all good."

Remedy, a Google Glass application that connects physicians and specialists, is helping solve appointment overload by getting patients in front of the right specialists quickly and digitally.


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Passive sensing with smartphones

Passive sensing with smartphones | Pharma Strategic | Scoop.it

The opportunities, pitfalls, and ethical challenges associated with the increasing amount of passive data collection that is possible through the many different sensors we're already carrying around in our pockets.


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Andrew Spong's curator insight, August 6, 6:50 AM

I'm thinking 'health' when reviewing this summary of course, and you will be too, I'm sure.

 

These questions will become increasingly important as more sensors are added to the devices we carry with us, but more significantly those static sensors in our lived environments that gather data about us -- overtly, and covertly.

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Digital Advances: Healthcare Professional Demand versus Pharmaceutical Industry Supply of Digital Resources

Digital Advances: Healthcare Professional Demand versus Pharmaceutical Industry Supply of Digital Resources | Pharma Strategic | Scoop.it
This 29-page research report is based on an independent study conducted in April 2014 by EPG Health Media, publisher of epgonline.org (the website for healthcare professionals).

The study includes two sample groups; 326 healthcare professionals (HCPs) and 146 pharmaceutical industry marketers (including pharma company and agency) and is designed to provide insight into factors surrounding HCP demand and pharma supply of digital resources.
- See more at: http://www.epghealthmedia.com/industry-reports/digital-demand-versus-supply/#sthash.EULwUre0.dpuf
Sven Awege's insight:

Some excellent insights in this free report.

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Now You Can See Which Diseases Are Trending At The Doctor's Office

Now You Can See Which Diseases Are Trending At The Doctor's Office | Pharma Strategic | Scoop.it
An electronic health record company is offering up a fascinating new way to see what's making people sick, how they're getting treated, and what...
Sven Awege's insight:

Quite impressive - I can see pharma marketers drooling over this.

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Corporate Communications should not be implementing pharma's social media

Corporate Communications should not be implementing pharma's social media | Pharma Strategic | Scoop.it
Corporate Communications is fine for implementing social media for investor relations but patients and caregivers want someone who can keep it real and speak to them with respect, transparency and honesty.

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Andrew Spong's curator insight, May 6, 3:57 AM

Aside from corporate reporting, I whole-heartedly agree with Rich on this.

 

Clearly, pretty much the opposite is the case at present, and the longer the status quo is preserved, the harder it will be for the industry to break away from a decision which use and familiarity have legitimated over time, and which is looking less and less viable.

 

Social media sits for the most part in pharma corporate communications because it's the easiest thing to do, not because it's the right thing to do.

Tanja Juslin's curator insight, May 15, 1:13 AM

Challenges seen both when corporate communication is doing what they "technically" know best and when therapy area specialist would know the area best, it's not clear that they can "technically" manage this.

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Merck's EHR alliance to improve patient health

Merck's EHR alliance to improve patient health | Pharma Strategic | Scoop.it

In one of its first digital health initiatives, Merck has partnered with web-based electronic health record provider Practice Fusion to help doctors track the percentage of their adult patients who are up to date on their vaccines.


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App-Using Patients Less Likely To Be Readmitted

App-Using Patients Less Likely To Be Readmitted | Pharma Strategic | Scoop.it
The Mayo Clinic has found cardiac rehab patients who use apps to monitor their health were less likely to be readmitted. By Katie Wike, contributing...

Via Alex Butler
Sven Awege's insight:

.... so yes,  going the extra mile with the CE can be worth it!

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DundeeChest's curator insight, April 13, 2:34 PM

Take 2 iPhone apps, three times a day.

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Survey: One third of wearable device owners stopped using them within six months

Survey: One third of wearable device owners stopped using them within six months | Pharma Strategic | Scoop.it
Sven Awege's insight:

Additionally, more than half of consumers who own one no longer use it!

Click on the "survey reads" to see report. Engagement is where the game is now.... just being flash doesn't cut it anymore.

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Nearly three-quarters of prescription-takers use mobile apps, including most older adults and seniors

Nearly three-quarters of prescription-takers use mobile apps, including most older adults and seniors | Pharma Strategic | Scoop.it

Most patients taking prescription medicine (72%) also use mobile apps (Android smartphone, iPhone, Android tablet, iPad, or Kindle Fire),

Mobile app adoption rates are high across all medication-taking adult age groups: 93% (age 18-24), 90% (age 25-34), 88% (age 35-44), 80% (age 45-54), 66% (age 55-64), and 50% (age 65+),

App-using patients prefer the privacy-protected single app Mobile Health Library (MHL) system (by a factor of 11 to 1) over email programs often offered by medication manufacturers.  This high preference for a privacy-protected single app, customized to a user's needs for medication education and support services, was observed across all adult age groups.


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Dr Martin Wale's curator insight, April 8, 8:05 AM

I've not been able to verify the funding source for this research, so it could just be marketing.  If you know, please comment.  Thanks!