Zoomedia Blog
I am the CEO of a communications agency that depends directly on DTC and DTP advertising for a significant portion of our bottom line. One of our largest clients is a non-profit patient advocacy group. In addition, we have many, many clients who have to balance their passion for finding cures with their need to satisfy their investors' expectations. As we begin 2008 and listen to the Presidential candidates views on healthcare, we hear a lot of strident voices within industry often pitted against patient advocacy. It seems that there's a lot of talk about change, a lot of serious resistance to change, and a lot of skeptics who say the pharmaceutical industry will never change.
Already this year we have the ENHANCE trial of Vytorin being investigated and marketing campaigns called into question. We also saw a study released on clinical results of antidepressants that shows that while ninety-four percent of studies with positive drug data showed up in print, only 14 percent of the studies with negative or inconclusive results were published. Another two studies - one on marketing spending and one on R&D spending - show that while we continue to say that drugs have to cost so much to support R&D, the spend on advertising may be as much as $20 billion more than R&D budgets.
Below is my list of 2008 Ins and Outs for our industry. Change happens whether we like it or not and as our therapists tell us it is healthier for all concerned to talk it out and move forward. Let's hope we can do so in a way that brings health and care to patients.
| IN | OUT |
Patient Empowerment | "Doctor Knows Best" |
Tags: Product Strategy, Global Strategy, Clinical Strategy