Valeant wants to buy Allergan, and a takeover orchestrated by the Canadian company's CEO, J. Michael Pearson, usually involves some hefty job-chopping. But sales reps need not worry about major layoffs, according to the helmsman.
Layoffs are always big news in pharma, as they are seen as an indicator of the health of the industry. Companies don't like to have to announce them, but when they decide to, getting plenty of attention becomes important. That is to impress upon investors that their CEOs are making the hard decisions needed to keep costs in line. Of course employees are interested. They know from the inside what is about to happen, and having lived through the awful anticipation, they want to see what the carnage is really going to be.
The patent cliff is often the big culprit. One might think that a one-to-one relationship could be graphed between what is happening with the patent cliff and layoffs, but that is not the case. Pharma analysis company EvaluatePharma has forecast that there were $41 billion in patent sales at risk in 2011, a year in which the top 10 pharma layoffs amounted to 26,500. In 2012, the peak year, EvalutePharma said a whopping $67 billion was at risk. In that year, the top layoffs tallied more than 34,600. Then in 2013, when at-risk sales fell to only $29 billion, we have a total for the top 10 of nearly 27,900. Click here to read the full report on FiercePharma >>
Chatting with the public is not in pharma's comfort zone. Drugmakers are adept at the one-way communication known as direct-to-consumer advertising, and some of them deal well with the media. Some even know how to work with patient groups. Back-and-forth with doctors? Pharma's daily bread.
But put your average, everyday drug company in the middle of a public conversation, and it freezes up. In fact, of the 50 largest drugmakers worldwide, only half even dabble in social media. Only 10 use all three of the oldest, biggest social sites--Facebook, Twitter and YouTube--according to a new study by the IMS Institute for Healthcare Informatics. And within that small group, few are actually interacting with patients and the public. Click here to read the full report >>
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We can officially say that Gilead Sciences pulled off the fastest drug launch on record. First-quarter sales of the company's new hepatitis C drug Sovaldi (sofosbuvir), approved in December, blew past previous records and just kept going. And along the way, it broke the blockbuster barrier, too. Read more >>
The champions of digital marketing pounded their chests in dismay earlier this month, when 2013 DTC-spending stats showed online ads on the wane. Down by 14%, and the numbers were pretty paltry to begin with. No wonder, then, that Google is lobbying the pharma business on YouTube's behalf.
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