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NOVARTIS CEO: Big Pharma Has To Move Beyond Just 'Selling The Pill'

NOVARTIS CEO: Big Pharma Has To Move Beyond Just 'Selling The Pill' | PharmaBites | Scoop.it

Joseph Jimenez  had previously worked in consumer goods. 

He discusses how he's attempting to change the company in a Q&A with the Wall Street Journal. Some of it's your standard material about writing fewer power points and spending more time with customers, but he also gives an interesting example of how the industry can and must change in an age of budget crises: 

I also started to shift our business away from a transactional model that was focused on physically selling the drugs to delivering an outcome-based approach to add value beyond just the pill. I really believe that in the future, companies like Novartis are going to be paid on patient outcomes as opposed to selling the pill.


Via Dinesh Chindarkar, Sven Awege
James Aird's insight:

Easier to talk the talk than walk the walk, but very encouraging to see big pharma waking up to this.

Sven Awege's curator insight, February 12, 3:17 AM

This is wonderful news for alternative channels like social media. Think about it, there are already millions of patients using Novartis products, each with their own experience, and thoughts of how they could be better services. Social Media listening has been around for a while now, but we can take it to another level.

Think upstream!

Today we're focusing on social media for sales and marketing (does that sound clever?), with a few stints into Medical (primarily MedEd, and some crowd-sourcing for clinical studies).

Why not take it a step further - into the R&D chain? Not only this could revolutionize our services of tomorrow, it could help us better design clinical studies so that we are smarter about setting primary and secondary end-points.

Past experience in sales has demonstrated that if you get your trial set-up wrong it's like trying to sell ice to eskimos!

Dinesh Chindarkar's comment, February 12, 9:24 AM
Very true Swen - Myopic views are currently dominant but the larger picture is slowly evolving! Thanks for the comments
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Pharma gets social: Novartis has content, but no engagement

Pharma gets social: Novartis has content, but no engagement | PharmaBites | Scoop.it

Pharma gets social Novartis has content, but no engagement - Articles In his latest article, Daniel Ghinn takes a look at Novartis' social media channels and questions whether there is a missed opportunity for the pharma company as it is not using...


Via Olivier Delannoy
Mat Beca's curator insight, May 17, 4:04 PM

Comment générer de l'engagement pour la pharma? La réponse n'est pas ici mais c'est vrai qu'il y a une opportunité à saisir...

hugh mcclung's curator insight, May 17, 8:07 PM

Summary statement

 

"For Novartis, the message is highly controlled. If in the past, pharma communication was a one-way dialogue via glossy brochures with little opportunity for stakeholders to respond, the digital age of healthcare engagement appears to have bypassed Novartis, at least as far as its corporate communications activities go"

 

Pharma need to enter the patient engagement. One recent quote

 

" Patient Engagement is the Bigest BlockBuster Drug of the Century"

Rescooped by James Aird from PharmaChange
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Many Biotech Execs Dismiss Reimbursement Issues - Forbes

A new survey from Ernst & Young finds that many biotechs have not fully caught on to the simple, but important notion that their products must demonstrate value to payers in order to get maximum placement and reimbursement coverage.

Via Aleksandra Misiorowska
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Rescooped by James Aird from Digital marketing pharma
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Socializing Pharma – Sanofi Gets it Right

Socializing Pharma – Sanofi Gets it Right | PharmaBites | Scoop.it

Today’s patients are empowered and connected – living as much in the digital world as the “real” world. It isn’t easy to engage healthcare customers in soci...


Via Olivier Delannoy
hugh mcclung's comment, April 18, 11:24 PM
Interesting example of getting it right. The key is patient engagement around a target disease or problem
Scott Chepow's comment, April 19, 9:12 AM
Wonder how they monitor the reaction...
Sven Awege's comment, April 20, 5:41 AM
They are building great insights too along the way through listening to the community. That will certainly be fed through into the more traditional marketing material ;-)
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Docs to pharma marketers youre not getting it

An ePharma Summit panel of physicians takes the sheen off new marketing initiatives by telling pharmas they find them useless.

Via Aleksandra Misiorowska
James Aird's insight:

"...there is a gap between knowing what healthcare providers and organizations need and getting that messaging to filter down to the brand marketing level."

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Rescooped by James Aird from Pharma Strategic
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NOVARTIS CEO: Big Pharma Has To Move Beyond Just 'Selling The Pill'

NOVARTIS CEO: Big Pharma Has To Move Beyond Just 'Selling The Pill' | PharmaBites | Scoop.it

Joseph Jimenez  had previously worked in consumer goods. 

He discusses how he's attempting to change the company in a Q&A with the Wall Street Journal. Some of it's your standard material about writing fewer power points and spending more time with customers, but he also gives an interesting example of how the industry can and must change in an age of budget crises: 

I also started to shift our business away from a transactional model that was focused on physically selling the drugs to delivering an outcome-based approach to add value beyond just the pill. I really believe that in the future, companies like Novartis are going to be paid on patient outcomes as opposed to selling the pill.


Via Dinesh Chindarkar, Sven Awege
James Aird's insight:

Easier to talk the talk than walk the walk, but very encouraging to see big pharma waking up to this.

Sven Awege's curator insight, February 12, 3:17 AM

This is wonderful news for alternative channels like social media. Think about it, there are already millions of patients using Novartis products, each with their own experience, and thoughts of how they could be better services. Social Media listening has been around for a while now, but we can take it to another level.

Think upstream!

Today we're focusing on social media for sales and marketing (does that sound clever?), with a few stints into Medical (primarily MedEd, and some crowd-sourcing for clinical studies).

Why not take it a step further - into the R&D chain? Not only this could revolutionize our services of tomorrow, it could help us better design clinical studies so that we are smarter about setting primary and secondary end-points.

Past experience in sales has demonstrated that if you get your trial set-up wrong it's like trying to sell ice to eskimos!

Dinesh Chindarkar's comment, February 12, 9:24 AM
Very true Swen - Myopic views are currently dominant but the larger picture is slowly evolving! Thanks for the comments
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How Deloitte Made Learning a Game

How Deloitte Made Learning a Game | PharmaBites | Scoop.it
To get employees to actually use your learning program, make it fun.
James Aird's insight:

The must be many opportunities to employ gamification in pharma.  Rep training is the obvious one, but what about external stakeholder interactions? Or internal business strategy sessions?

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The Basics Of Neuromarketing

The Basics Of Neuromarketing | PharmaBites | Scoop.it
A Panda and a Penguin walk into a bar--and send your Google search ranking plummeting a few hundred places.If you didn’t laugh at the above, that’s because it’s not really a joke.
James Aird's insight:

Interesting article on SEO strategies - although like most good ideas it sounds like common sense when you read it!

 

"Neuromarketing is a science that’s based on the fact that 95% of all thoughts, emotions, and learning occur before we are ever aware of it"

 

Top tips include:

 

Don’t Make It All About You

Spend less time talking about how great you are and more time talking about how you’re going to help a potential customer.

 

Don’t Take Too Long
Our brains are getting inundated with messages all day long--so they respond well to pitches that are short and sweet.. Focus on quick ways to sum up how your product or service can change the customer’s life for the better.

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Rescooped by James Aird from Creativity & Decision-Making
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Innovate on Purpose: Innovation "killers" never play by the leader's rules

Innovate on Purpose: Innovation "killers" never play by the leader's rules | PharmaBites | Scoop.it

What will it take for a tablet to "unseat the ipad from its position as the leader of the tablet pack"?

 

Clayton Christensen in the "Innovator's Deilemma" argued "that most disruption happens from products that offer less feature or benefit than the existing expectation."

 

"To win in an established market, you don't want to do more of the same, you want to shift the rules entirely."

 

"Any innovation that overturns a dominant market position in hindsight will appear obvious, but in foresight will seem dramatically new and different. That's because the innovation doesn't extend the strengths and capabilities of the leader, but often plays judo against the leader, playing off of its strengths."


Via Katherine Stevens
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ViewPoints: When 'good' is not 'good enough' – FirstWord talks to UCB about its drug development ethos | FirstWord Pharma

ViewPoints: When 'good' is not 'good enough' – FirstWord talks to UCB about its drug development ethos | FirstWord Pharma | PharmaBites | Scoop.it

Raising the bar of innovation!

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Do you have enough mental energy to make the important decisions?

Do you have enough mental energy to make the important decisions? | PharmaBites | Scoop.it

An interesting concept - seems to work for Barack Obama...

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Panel to recommend testing for HIV as routinely as cholesterol - FiercePharma

Panel to recommend testing for HIV as routinely as cholesterol - FiercePharma | PharmaBites | Scoop.it

A U.S. advisory panel may recommend before the end of the year that primary care doctors start routine testing for HIV, a shift that if it occurs, has huge implications for drugmakers with HIV meds.

 

 

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In a Fast World, Think Slowly

In a Fast World, Think Slowly | PharmaBites | Scoop.it

Or rather think at the appropriate speed for you and your business... faster doesn't always equate to better!

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Rescooped by James Aird from Mindfull Decision Making
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Deep Rationality: The Evolutionary Economics of Decision Making ...

Even though I consider that I am across the literature at the boundary of economics and evolutionary biology, now and then an article pops up that I someho.

Via Philippe Vallat
Miklos Szilagyi's curator insight, April 25, 10:21 AM

Wow... very interesting topic, and a pdf embedded I would have been missed forward...

Rescooped by James Aird from Bounded Rationality and Beyond
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The Top 11 Reasons You Ignore Your Intuition | Powered by Intuition

The Top 11 Reasons You Ignore Your Intuition | Powered by Intuition | PharmaBites | Scoop.it
The 11 reasons your ignore your intuition cause you problems. If you ignore your intuition often you make mistakes. Listen to intuition and find success in life.

Via Alessandro Cerboni
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Rescooped by James Aird from Mindfull Decision Making
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Five Effective Decision Making Techniques

Five Effective Decision Making Techniques | PharmaBites | Scoop.it
A trader's journal on topics related to trading, psychology, money management and technical analysis of Futures, Forex and Stock markets.

Via Philippe Vallat
James Aird's insight:

Childhood curiosity still applies to working life!

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Why Facebook And Twitter Are Not Most Innovative Companies

Why Facebook And Twitter Are Not Most Innovative Companies | PharmaBites | Scoop.it
2012 MISSION FACEBOOK Reignite revenue growth, particularly via mobile; after May 18, appease Wall Street TWITTER Make enough money to start justifying its $11 billion valuation WORST MOMENT FACEBOOK Proudly touting that CEO Mark Zuckerberg...
James Aird's insight:

This article makes some valid points about what it means to be "innovative" - something pharma cos would do well to remember too!

 

"...recent moves reveal two companies engaging in innovation's evil twin: short-term thinking at the expense of long-term value."

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Remarkable drugs at remarkable prices

Remarkable drugs at remarkable prices | PharmaBites | Scoop.it
BBC Scotland's Ken Macdonald examines the issue of orphan drugs, which cost the NHS in Scotland more than £17m last year.
James Aird's insight:

The world's most expensive drug, and a timely reminder of the value of orphan drugs to both patients and pharma.

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Make Your Next Innovation Jam Work

Make Your Next Innovation Jam Work | PharmaBites | Scoop.it
Four basic principles of creative group problem-solving.
James Aird's insight:

Anyone have any good/bad experiences of Jamming to share?

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New HIV/Aids Campaign Targets Varsity Students - AllAfrica.com

New HIV/Aids Campaign Targets Varsity Students - AllAfrica.com | PharmaBites | Scoop.it
New HIV/Aids Campaign Targets Varsity StudentsAllAfrica.comThe Ministry of Health has launched a one week sensitisation drive targeting the youth, especially students at the National University of Rwanda (NUR).
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Get Your Story Straight... Because It's the Key to Your Success

Get Your Story Straight... Because It's the Key to Your Success | PharmaBites | Scoop.it
Marketing Strategy - Stories matter. We see it over and over again: Companies that capitalize on an inflection point and grab a leadership position always have a thought-provoking point of view that resonates ...
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Rescooped by James Aird from Creativity & Decision-Making
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Stop Trying to Solve Problems

Stop Trying to Solve Problems | PharmaBites | Scoop.it

"Hack the brain to increase complex problem solving."

 

"New research by Neuroscientist David Creswell from Carnegie Mellon ... explore[s]  what happens in the brain when people tackle problems that are too big for their conscious mind to solve."

 

 "To put it plainly - people who were distracted did better on a complex problem-solving task than people who put in conscious effort. This isn’t so surprising –the problem-solving resources of the non-conscious are millions if not billions of times larger than that of the conscious. What’s surprising is how fast this effect kicked in – the third group were distracted for only a few minutes. This wasn’t the ‘sleep on it’ effect, or about quieting the mind. It was something more accessible to all of us every day, in many small ways."


Via Sandeep Gautam, Katherine Stevens
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Research tips - Why are some things easier to forecast than others?

Research tips - Why are some things easier to forecast than others? | PharmaBites | Scoop.it

This blog raises some good points - use forecasts in the right way and you have a very powerful tool!

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Following bapineuzumab's Phase III failure, where should #Pharma now concentrate #Alzheimer's disease investment?

Following bapineuzumab's Phase III failure, where should #Pharma now concentrate #Alzheimer's disease investment? | PharmaBites | Scoop.it

Interesting poll - opinion seems to be in favour of moving on from beta amyloid...

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Behavioural Economics and HIV - Simple psychology that pharma can learn from

This story caught my eye in this paper:

 

Reducing AIDS transmission through inaction - The Power of Defaults and the Status Quo Bias

 

"Do you eat the same thing every morning because, well, that’s just what you always eat? If so, you’re not alone. Research has shown that people exhibit a status quo bias, the tendency to go along with an existing situation or selection rather than taking action to change it (Samuelson & Zeckhauser, 1988). The loss associated with changing or giving up the current situation often looms larger than any gains associated with acquiring a new situation

 

One result of the status quo bias is that we are more likely to select the default option whenever one is present. Changing AIDS testing for pregnant women in Zimbabwe from opt-in to opt-out increased testing rates from 65% to 99% over a six month period (Chandisarewa et al., 2007).

 

By making AIDS testing opt-out, taking the test becomes the default option. Women had to take additional effort to opt-out of the test, and inaction led to having the test – thus the status quo bias was used to help women make healthier choices for them and their future children."


Via Pat Brenner
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