Will AI Replace Pharma Sales Reps?Read the rest of this entry »
Artificial intelligence is being deployed in all sorts of ways in all industries and pharma and the life sciences are no exception.
It's hardly surprising that AI is already an ally in simulations and data analysis, but does it have a role in pharmaceutical sales?
Yes, says David Logue, Senior Vice President of commercial strategy at the pharmaceutical software firm Veeva. Writing in PharmaExec.com, Logue says, "The next frontier ...
Pharma M&A Deal Volume Smallest In YearsRead the rest of this entry »
Vantage is out with a half-year review of developments and trends in pharma, medtech and biotech. The headline is that M&A activity has slowed despite two mega-deals worth a combined $137 billion.
Other deals pushed the total value of takeovers in the first half of the year to $173 billion. The report describes this as " an eye-watering sum that already beats the last three full years on total deal ...
Drug Ad Uses Office Wi-Fi to Target PatientsRead the rest of this entry »
An unnamed drug firm is trying out a new way to reach potential customers -- targeting ads to patients in waiting rooms.
An article on FiercePharma says beginning this week, patients who log on to the Wi-Fi in their cardiologist's office will see messages for a PCSK9 inhibitor, which is a type of cholesterol lowering drug. Although the ad campaign, managed by Semcasting, which is managing the ad campaign, declined to ...
Pharma's Incentive Compensation Plans Growing More ComplexRead the rest of this entry »
As pharmaceutical companies shift their sales talent focus from recruitment to retention, they are adjusting their compensation programs to better align those goals with their most important business objectives.
An article on PharmExec.com discusses the tinkering companies have been doing with their variable pay to make it a larger percentage of compensation.
Partha S. Anbil , cognitive enterprise transformation leader, Healthcare & Life Sciences practice at IBM Global Business Services ...
How Big Is the Right Size For a Clinical Trial?Read the rest of this entry »
When a drug company embarks on a clinical trial, one of the risks it runs is the nonadherence of participants to the rules. In simplest terms, that means if a patient is to take a pill in the morning and another at night, deviating from the schedule is nonadherence. If too many participants deviate, the trial could fail.
An article in Applied Clinical Trials discusses the statistical implications of nonadherence ...
Orphan Drugs Forecast to Be 20% Of SalesRead the rest of this entry »
The orphan drug market is predicted to top $240 billion in the next five years and account for 20% of all prescription drug sales worldwide.
From a market once so small that Congress had to incentivize the development of drugs to treat rare illnesses, EvaluatePharma's 2019 Orphan Drug Report predicts the sector will see a 12.3% CAGR between now and 2024. That's about double the rate of non-orphan prescription ...
Hiring the Best Is No Longer a Given For Life SciencesRead the rest of this entry »
It wasn't that long ago that life sciences companies were considered employers of choice, "offering attractive opportunities and benefits, challenging and rewarding work, and long-term (if not lifetime) employment stability."
Many still are, but the landscape has changed. Today, says an article on PharmaExec, "The power to attract and retain the best in the labor market is no longer a given for life sciences employers."
Referring the changes ...
Outsourced Pharma Services Could Top $54 BillionRead the rest of this entry »
The market for global healthcare contract research is growing at a rate approaching 7% a year, and could top $54.7 billion by 2025.
A study from Grand View Research says the growth is the result of increasing drug development costs. Expiring patents, the increasing number of partnerships and rising R&D costs are putting pressure on drug makers. At the same time, the regulatory process in many countries for drug ...
2018 Was a Record Year for VC ActivityRead the rest of this entry »
When talking about venture capitalists, California and its Silicon Valley may be the first place to come to mind. In 2018 the state accounted for well over half the $130.9 billion invested. Massachusetts and New York were second and third.
Last year was a record-breaker for VC investment. The Pitchbook declared, "2018 ended up being a banner year for the VC industry with $130.9 billion invested across 8 ...
Clinical Trials Suffering From Lack of Skilled InvestigatorsRead the rest of this entry »
The management of clinical drug trials has never been more complex. Changes in trial protocols and development practices are making it increasingly difficult to meet patient enrollment goals. Meanwhile, finding investigators with the experience to work in these trials where drugs are tested on specific genetic mutations, rather than diseases, is harder than ever.
An article in Applied Clinical Trials details the challenges of engaging principal investigators. The article cites ...