This document discusses partnering between academia and industry for social media research. It explores how social media research can connect and improve healthcare, and investigates the emergence of pharmacovigilance 2.0. Both parties see benefits but also challenges to collaboration. Early research includes analyzing social media posts about medications to monitor adverse effects and improve adherence. Future applications may integrate social media, sensors and mobile devices to better understand health behaviors and detect health issues. Privacy and ethical concerns will need ongoing management.