Competition Will Put Even More Pricing Pressure On Pharma This YearRead the rest of this entry »
There's no shortage of predictions about what's ahead for the pharmaceutical and biotech sector in 2018. A Google search turns up dozens of articles and that's just in the last two weeks. And the range is broad -- from predictions of quicker FDA drug approvals to an aggressive entry into the field by tech companies, especially Google and Amazon and continued consolidation of the industry.
One of the ...
Drug Companies Turning to AI to Speed DevelopmentRead the rest of this entry »
Slower to come to the party than other industries, bio-science firms are beginning to turn to artificial intelligence to speed up the development of new drugs.
When GlaxoSmithKline inked a $43 million AI deal last summer, Reuters quoted a company official saying, “It’s still to be proven, but we definitely think we should do the experiment."
Other large drug makers have entered into similar partnerships with biotech firms, taking ...
CVS-Aetna Deal Will Hasten Move to Value Drug PricingRead the rest of this entry »
The news that CVS is buying Aetna for $69 billion rattled the business press this week, prompting headlines that included words like "Reshape," "Transform," and "Shake Up."
Most accounts discussed how the deal could lead to converting CVS' 9,700 storefront pharmacies into primary care centers and walk-in clinics, similar to the 1,100 CVS already operates. That, of course, is only part -- admittedly a big part -- of the implications ...
Report: Traditional Drug Selling Is Becoming 'Obsolete'Read the rest of this entry »
The future of pharmaceutical sales marketing will look very different in the next decade from what it was in the last. These changes, which began to take shape even before the start of the Great Recession, are accelerating, leading, says a PricewaterhouseCoopers report, "to a new marketing and sales system with a smaller, more agile and smarter sales force."
Among the headwinds that are forcing drug makers to change tactics ...
Value-Based Drug Pricing Is Gaining More AttentionRead the rest of this entry »
In the face of blistering criticism over drug pricing from Republicans and Democrats alike, pharmaceutical firms are experimenting with "value-based" pricing.
The concept is not especially new; over the years, academics and healthcare reformists have proposed it as one model for overhauling how medicine is practiced in the U.S. Implementing it as a pricing model for drugs is relatively new.
As a PwC whitepaper last month explains, a value-based ...
Pharma Turns to Social Media to Recruit VolunteersRead the rest of this entry »
Recruiting participants for clinical trials can be as much of a challenge as hiring experienced workers for skilled jobs. A stunningly high percentage of trials never get underway because enough patients can't be recruited. And attrition rates average 30%, causing some trials to have to shut down.
For years, drug companies have resorted to advertising their need for volunteers on radio, in print, on TV. Lately, they have ...
Pharm Deals Topped $189 Billion In 2016Read the rest of this entry »
The pharmaceutical and biotech industry saw a total of 2,028 deals made in 2016, with an aggregate deal value of $189 billion, according to a recently released factbook by Research and Markets.
Summarizing the broad findings, Research and Markets says, "Pharmaceutical and biotechnology companies are facing challenges due to disruptive events in the healthcare market such as increasing costs of production and R&D, shifts in patent laws, and challenges ...
Pharma and Biotech Often Turn to Search Firms For HelpRead the rest of this entry »
When companies need specialized talent or are having a hard time filling in-demand jobs, they often turn to executive search firms like Green Key Resources for help. While all industries use search firms, companies in sectors where the specialized talent is especially limited and highly sought after are the ones most often engaging search firm help.
A just released report says pharmaceutical and biotechnology companies regularly call on search firms ...
Pharma Striking Early Stage Deals With AcademiaWith the price of developing a new drug and bringing it to market running into the hundreds of millions and up to more than $2.5 billion, pharmaceutical companies are forging partnerships with universities to help cut the cost and hasten the process.Read the rest of this entry »
Academic researchers and major drug companies have worked together in the past, typically at the clinical trial stage. Now, big pharma is looking to partner with universities ...
Report Shows Workforce Drug Use Increased In 20164.2% of American workers tested positive for drugs last year, the highest rate in a dozen years, according to Quest Diagnostics.Read the rest of this entry »
The company, one of the largest providers of medical and diagnostic tests in the U.S., issued its annual Quest Diagnostics Drug Testing Index in May. The company said it found cocaine, marijuana and methamphetamine use was up across the nation.
“This year’s findings are remarkable because ...