Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Generic Pharma at Strategic Inflection Point - IHF - CEO Nicos Rossides

1,333 views

Published on

Medochemie CEO Dr Nicos Rossides argued that generic pharma is at a strategic inflection point due to a combination of factors: on the one hand are industry forces such as price pressure, tough regulatory/legislative environment, shifting demographics and increasing patient empowerment. On the other hand, the digital revolution has far reaching implications on the way in which generic pharma companies create and deliver value.

  • Be the first to comment

Generic Pharma at Strategic Inflection Point - IHF - CEO Nicos Rossides

  1. 1. Generic Pharma International Health Forum Dr. Nicos Rossides CEO Medochemie Bucharest September 12, 2013
  2. 2. Strategic Inflection… What is it? Where outside forces have challenged the norm, radically altering the competitive landscape Old ways of doing business are destroyed…new competitors emerge. Existing businesses are forced to change or die Internal reactions often amount to ‘strategic dissonance’: -competencies suddenly diverge from the basis of competition -company’s stated strategy tends to differ dramatically from what it actually does …Andrew Grove, Intel
  3. 3. PATIENT EMPOWERMENT COMPETITION Generic Pharma
  4. 4. From Digital Marketing to Living & Working in a DigitalWorld Digital Focus H L 2005 2007 20132009 BRAND WEBSITES ONLINE MEDIA SOCIAL MEDIA ‘Digital Marketing’ ‘Business in a Digital World’
  5. 5. Towards a digital strategy… Access & context Always available computing power & storage. Insight & predictive analytics. Behavior, pref erence & interaction.
  6. 6. In roughly a decade…
  7. 7. 2001 2003 2004
  8. 8. 2007 20102006
  9. 9. 201220112011 2012
  10. 10. A Few Numbers…..
  11. 11. 665M 189M active users/day active users through mobile
  12. 12. 410,714 55 join each day minutes spent/day
  13. 13. 500M active users 9M unique visitors/day
  14. 14. 200M active users 172,800 join each day
  15. 15. Per Day… • 32M unique visitors • 195M hours of videos watched • 3Bn views
  16. 16. 2013 Stats 7.1Bn people on earth 6.8Bn 2.7Bn 165Bn 823M
  17. 17. Fast forward to 2020…
  18. 18. In 2020: Mobile will dominate
  19. 19. In 2020: Media Consumption individual & interactive
  20. 20. Primacy of Earned Media
  21. 21. Owned Media Bought Media Earned Media Digital Culture brand website, brand social network page, packaging, experiential online conversations / blogs, consumer driven brand advocacy, consumer driven buzz/viral TV, press, radio, online, sponsorships e.g. PR PUSH PUSH & PULL PULL
  22. 22. Appropriate mix of push and pull marketing need to evolve from ‘push’ (tell/sell)
  23. 23. to ‘pull’ (help/support)
  24. 24. In 2020:TV no longer the spoke of the advertising wheel
  25. 25. By 2020… PATIENT ENGAGEMENT PATIENT CENTRICITY
  26. 26. Web enabled devices will grow fourfold.
  27. 27. ‘Big data’ will drive decisions
  28. 28. Implications for businesses
  29. 29. What is the opportunity for generic pharma - apart from survival? Reduce cost Do more for less Create proprietary sources of insights - such as online communities - for competitive advantage Translate insights into marketing and operational actions… more effectively and faster
  30. 30. Social media monitoring Chat Groups /Bulletin Boards Online communities Web listening Video photo diaries Stimuli /Video Clip Evaluation Polling New ways of gaining insight!
  31. 31. Listen Analyze Understand Engage
  32. 32. ….Less questioning, m ore listening & interacting.
  33. 33. But….. It’s easy to be busy with social media. It’s hard to be strategic. Social media is becoming the primary means for communication & collaboration.
  34. 34. The Evidence….
  35. 35. PATIENT PHYSICIANS PARTNERS Healthcare & Social Media
  36. 36. The Connected Patient • 25% of Internet users live with a disease. • 80% seek info on their disease. • 23% follow their friends’ health status. • Seek medical info & second opinions. • Rate products & services. • Share their experience - provide support & encouragement.
  37. 37. The Connected Patient
  38. 38. How about physicians?
  39. 39. The Connected Physician • 90% of U.S. physicians go online for health or drug info. • 92% accessed it from their office. • 21% did so with a patient in the examination room. • 88% looked for health info online from home. • 59% used mobile device to get online. adverse effects? best treatment? dosage forms? new molecules tips from specialists? indications? drug interactions?
  40. 40. The Connected Physician…
  41. 41.  Improve patient engagement Provide relevant content & give feedback to gain patient trust, anticipate changing needs & add value.
  42. 42.  Increase physician engagement Create a positive customer experience with physicians by understanding their specific clinical & professional needs. Through dedicated portals, CRM.
  43. 43.  Get complete view of customers Effective targeting & advanced analytics to evaluate customer behaviour & refine customer segments.
  44. 44.  Enable mass collaboration & co-creation Build on-line communities for co-creation & engagement while creating lasting relationships.
  45. 45.  Move from procedural to strategic uses of social media Screen for applicants with digital capabilities – partner them with experienced managers. Harness the new ways of gaining insight & creating engagement – communities, gamification. Extend capabilities through third party providers – for content production, analytics etc.
  46. 46. Targeted Healthcare Portals • B2C portals - info about diseases, medical products & services (www.intelihealth.com) to enable patients to buy OTC online (www.drugstore.com). • B2D portals – networking, info exchange, expert advice for doctors. (www.sermo.com). • B2B portals - connect pharma companies, hospitals, wholesalers and pharmacies to reduce transaction costs (www.webmd.com).
  47. 47. What we should be asking: Who owns “digital” in my company? What is my “digital” strategy? Am I spending enough? Am I spending it the right way? How do I choose my “digital” partners?
  48. 48. Create a strategy around… relationshipsrelevance interaction
  49. 49. In which ways is our industry changing? How is technology changing? Are the changes evolutionary or revolutionary? What are the implications for how we do business?

×