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Pharmaceutical Industry Analysis 2013

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This presentation provides a comprehensive overview of the current pharmaceutical industry. It begins with a look at some of the changes facing the industry and then moves into a discussion on digital technology and its impact on pharmaceutical companies. From there, the deck explores two digital trends, mobile and eDetailing. The presentation wraps up with some examples of pharmaceutical companies their digital presence.

Published in: Health & Medicine, Business

Pharmaceutical Industry Analysis 2013

  1. 1. pharmaceutical industry propanestudio.com san francisco newbusiness@propanestudio.com 415.550.8692 private & confidential july 10th 2013
  2. 2. agenda • industry overview • two trends • brands embracing digital
  3. 3. industry overview
  4. 4. statistics industry overview 86% of physicians in the US use the web to gather health, medical or prescription drug info1 53% of consumers polled say information found online led them to ask a doctor new questions3 98% of physicians agree that their use of the internet for medicine will increase over the next 3 years2 1-3. Roman, Shawn, Donna Tuths, and Jason Wolenik. "Digital: The Connecter in Life Sciences." Accenture. N.p., n.d. Web. 2011.
  5. 5. typesofpharmaceuticals industry overview brand name marketed under a specific trade name by a pharmaceutical manufacturer and are still under patent protection generic made with the same active ingredients in the same dosage form as a brand name drug, but are sold to customers under their chemical name for 30-80% less
  6. 6. distributionchannels industry overview supplier manufacturer hospitalwholesaler doctorsales rep patient clinic retailer
  7. 7. fundamentalchanges industry overview • increasing demand for health care services and prescription medication to treat diseases • physicians are refusing to meet with sales reps in person • new technology allowing doctors and patients to access pharmaceutical information online • increasing threat of patent cliffs, litigation and legislation4 4. Roman, Shawn, Donna Tuths, and Jason Wolenik. "Digital: The Connecter in Life Sciences." Accenture. N.p., n.d. Web. 2011.
  8. 8. sellingprocess industry overview sales calls - reps from top companies target high volume prescribing doctors over the phone office visits - reps pass out free samples to physicians, this method is on the decline, statistics suggest out of 100 sales reps only 20 actually meet with a doctor5 online - reps engage online with doctors and patients through eDetailing 5."Pharmaceutical Sales Force Effectiveness Metrics." Eularis. N.p., n.d. Web. <http://www.slideshare.net/EULARIS/pharmaceutical-sales-force-effectiveness-metrics>.
  9. 9. globaldigitalstrategy industry overview 5 areas of focus 1. choosing the right digital operating model 2. integrating all channels 3. using analytics as a differentiator 4. finding new approaches for developing content 5. focusing on flexible and responsive technology architecture6 6. Roman, Shawn, Donna Tuths, and Jason Wolenik. "Digital: The Connecter in Life Sciences." Accenture. N.p., n.d. Web. 2011.
  10. 10. step#1 industry overview creating the right digital operating model • agile and flexible model that allows for customization at the local level • move towards centralization for digital capabilities such as, website development, mobile apps and digital asset management in order to create a cohesive customer experience • focus on hiring the talent needed to meet the digital needs within the organization7 7. Roman, Shawn, Donna Tuths, and Jason Wolenik. "Digital: The Connecter in Life Sciences." Accenture. N.p., n.d. Web. 2011.
  11. 11. step#2 industry overview seamlessly integrating all channels • consistent interactions across all channels will drive meaningful customer interactions • need to gather information about customer interactions on all channels to create a holistic and realistic picture of their customers8 8. Roman, Shawn, Donna Tuths, and Jason Wolenik. "Digital: The Connecter in Life Sciences." Accenture. N.p., n.d. Web. 2011.
  12. 12. step#3 industry overview using analytics as a differentiator • use data collected from all channels to assess the impact of digital campaigns and make real time adjustments based on customer engagement • use advanced marketing analytics to enable competitive differentiation, companies will be able to spot trends faster and act on them more quickly9 9. Roman, Shawn, Donna Tuths, and Jason Wolenik. "Digital: The Connecter in Life Sciences." Accenture. N.p., n.d. Web. 2011.
  13. 13. step#4 industry overview embracing new approaches for developing content • automating processes will allow the same number of employees to handle increased demand • creating content that can be used across multiple channels without modification will be crucial (optimized sites, videos etc.)10 10. Roman, Shawn, Donna Tuths, and Jason Wolenik. "Digital: The Connecter in Life Sciences." Accenture. N.p., n.d. Web. 2011.
  14. 14. step#5 industry overview using a flexible and responsive technology architecture • the right architecture will extend overall customer reach and increase promotional capacity across all channels • integrated channels allows for sharing customer information across channels and leads to a more cohesive customer experience11 11. Roman, Shawn, Donna Tuths, and Jason Wolenik. "Digital: The Connecter in Life Sciences." Accenture. N.p., n.d. Web. 2011.
  15. 15. trend1: {mobility}
  16. 16. salesreps trends • companies are arming their sales forces with tablets to enable sales, train staff and conduct administrative • result is a tailored approach to individual doctors with a clear marketing message relevant to doctor's individual practices and patients
  17. 17. doctors trends • doctors are sharing patient information, recording diagnoses and billing codes across mobile devices to eliminate the need for patient cards • the mobile/iPad app costs $99 a month and provides a template for doctors to follow while dictating information • the audio files, transcripts and relevant images (ie. photo of a patient’s wristband) are encrypted and sent to a cloud based HIPAA compliant database12 12. Peterson, Stacey. "InformationWeek: The Business Value of Technology."InformationWeek. N.p., 05 July 2012. Web.
  18. 18. patients trends • patients are information seekers when it comes to their health, many of them are actively searching for ways to independently educate themselves • they are posting health statuses on sites like PatientsLikeMe13 • they are engaging with solutions like Emmi, which give them access to physician recommended info via their mobile devices • Emmi also allows patients to receive information from physicians after office visits regarding preventative treatment options and medical condition assistance14 13."Patientslikeme." Patientslikeme. N.p., n.d. Web. <http://www.patientslikeme.com/>. 14. Peterson, Stacey. "InformationWeek: The Business Value of Technology."InformationWeek. N.p., 05 July 2012. Web.
  19. 19. patients trends • VaxNation is a mobile app that allows patients to track vaccinations over the course of their lifetime • the system allows patients to enter information such as date of birth and prior vaccines with corresponding dates • the app then provides age appropriate recommendations based on the CDC’s prevention guidelines as well as immunization reminders15 15. Peterson, Stacey. "InformationWeek: The Business Value of Technology."InformationWeek. N.p., 05 July 2012. Web.
  20. 20. trend2: {edetailing}
  21. 21. pharmaceuticaldetailing trends detailing is a one-on-one marketing technique used by pharmaceutical companies to educate physicians about a vendor’s products in hope that the physician will prescribe the company’s products more often. This traditional practice has evolved into edetailing, which utilizes technology to reach doctors16 16. Rouse, Margaret. "Pharmaceutical Detailing." SearchHealthIT. N.p., Feb. 2011. Web.
  22. 22. IQmercury2 trends • IQmercury2 is edetailing made simple • features include presentation capabilities, such as the ability to customize slides, track sentiments with + or - response tags • a remote control system, that gives HCP’s the chance to control the presentation via an iPhone remote • a content management tool, that lets users integrate CRM solutions and review analytic data per each presentation17 17."Unique Features Build Successful Presentations." IQmercury Features Comments. N.p., n.d. Web.
  23. 23. brands embracing digital
  24. 24. merck digital presence • merck invests 17 M in Physicians Interactive • PI is the leading provider of mobile and web based clinical resources and solutions for healthcare professionals • the funds will be used to fund the growth of 4 key products and initiatives18 • one key product is the skyscape app, a mobile content publisher19 18."PI Press Release." Physicians Interactive RSS. N.p., 05 Jan. 2012. Web. 19. Arnold, Matthew. "Merck Adds to Its Digital Portfolio." MMM. N.p., 01 Feb. 2012. Web.
  25. 25. pfizer digital presence • pfizer targets boomers through GetOld microsite • the site is a place where consumers can share and get information about the changes that occur during the aging process • a survey gives boomers the opportunity to see how their feelings stack up with others their age20 20. Armstrong, Linda. "Pfizer Gets Digital Marketing to Boomers Right." No Green Bananas. N.p., n.d. Web.
  26. 26. astrazeneca digital presence • astrazeneca invests in a comprehensive, interactive mobile application solution for use by its sales force developed by accenture • accenture developed a responsive application to meet the needs of pharma sales reps out in the field • the app has the ability to capture and store metrics even in offline mode21 21. "Helping AstraZeneca Achieve High Performance Through Digital Application Delivery." Accenture. N.p., n.d. Web.
  27. 27. novartis digital presence • novartis invests $200 M in integrated ad campaign to promote heartburn drug • the campaign includes several digital elements, such as online ads that drive consumers to the prevacid24.com site • on the site users are prompted to join the prevacid 24HR action program • once users join they receive customized email newsletters, coupons and other money saving offers as well as members only tools and info22 22. Hurn, Mary E. "Novartis $200 Million Integrated Campaign Promotes Heartburn Drug."Direct Marketing News. N.p., 12 Nov. 2009. Web.
  28. 28. summary pharmaceutical companies need to recognize the fundamental shift away from promoting individual products. Instead the focus is on making adjustments, both internally and externally that will revolutionize the ways companies attract and engage with customers to create lasting and profitable relationships.
  29. 29. opportunitiesforthefuture online • manufacturer sponsored support communities for patients with similar diseases • sites that allow online ordering and delivery of prescriptions • manufacturer sponsored sites to access reliable health care information mobile • apps that remind patients to take medicine, schedule followup doctor’s visits • apps for patients to use as tools to monitor their health (pollen monitor app or heart rate monitor app) tablet • customized interactive platforms with a focus on doctor engagement for sales reps to utilize during office visits
  30. 30. propane studio | 1160 battery street, suite 350 san francisco, ca 94111 | 415.550.8692 | www.propanestudio.com propanestudioisafull-service digitalagencyfocusedon developingexperiencesand solutionsthatfuelthewaypeople connectwithbrandsandeachother.

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