generic pharma
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Generic Pharma. International Health Forum. Bucharest September 12, 2013. Dr. Nicos Rossides CEO Medochemie. Strategic Inflection…. What is it?. Where outside forces have challenged the norm, radically altering the competitive landscape - PowerPoint PPT PresentationTRANSCRIPT
AT A STRATEGIC INFLECTION POINT ?
Generic Pharma
International Health Forum
Dr. Nicos RossidesCEO Medochemie
BucharestSeptember 12, 2013
Strategic Inflection… What is
it?Where outside forces have challenged the norm, radically altering the competitive landscape
Old ways of doing business are destroyed…new competitors emerge.
Existing businesses are forced to change or die
Internal reactions often amount to ‘strategic dissonance’:
- competencies suddenly diverge from the basis of competition
- company’s stated strategy tends to differ dramatically from what it actually does
…Andrew Grove, Intel
PATIENT EMPOWERMENT
DEMOGRAPHICS
REGULATORY
COM
PETITION
PRICE
MEDICAL
BREAKTHROUGHS
Generic
Pharma
From Digital Marketing to Living & Working in a Digital World
DigitalFocus
H
L 2005 2007 2013 2009
BRANDWEBSITES
ONLINEMEDIA
SOCIALMEDIA
‘DigitalMarketing’
‘Business in aDigital World’
Towards a digital strategy…Access & context
Always available computing power &
storage.
Insight & predictive analytics.
Behavior, preference & interaction.
In roughly a decade…
2001 2003 2004
2007 20102006
201220112011 2012
A Few Numbers…..
665M
189M
active users/day
active users through mobile
410,714
55
join each day
minutes spent/day
500Mactive users
9Munique visitors/day
200Mactive users
172,800join each day
Per Day…• 32M unique visitors
• 195M hours of videos watched
• 3Bn views
The New Era
2013 Stats
7.1Bn people on earth
6.8Bn
2.7Bn
165Bn
823M
Fast forward to 2020…
In 2020: Mobile will dominate
In 2020: Media Consumptionindividual & interactive
Primacy of Earned Media
OwnedMedia
BoughtMedia
EarnedMedia
Digital Culture
brand website,brand social network page,
packaging, experiential
online conversations / blogs,consumer driven brand advocacy,
consumer driven buzz/viral
TV, press, radio, online, sponsorships
e.g.PR
e.g.
RM activatio
ne.g.RM acquisition
PUSH
PUSH & PULL
PULL
Appropriate mix of push and pull marketing
need to evolve from ‘push’
(tell/sell)
to ‘pull’ (help/support)
In 2020: TV no longer the spoke of the advertising wheel
By 2020…
PATIENT ENGAGEMENT
PATIENT CENTRICITY
Web enabled devices will grow fourfold.
20,000,000,000
‘Big data’ will drive decisions
Terabyte
Petabyte
GB
Exabyte
Zettabyte
MB
Implications for businesses
What is the opportunity for generic pharma - apart from survival?Reduce cost
Do more for less
Create proprietary sources of insights - such as online communities - for competitive advantage
Translate insights into marketing and operational actions… more effectively and faster
Social media monitoring
Chat Groups /Bulletin Boards
Online communities
Web listening
Video photo diaries
Stimuli /Video Clip Evaluation
Polling
New ways of gaining insight!
Listen
Analyze
Understand
Engage
….Less questioning, more listening & interacting.
But…..
It’s easy to be busy with social media. It’s hard to
be strategic.
Social media is becoming the primary means for communication & collaboration.
The Evidence….
PATIENT
PHYSICIANS
PARTNERS
Healthcare & Social Media
The Connected Patient
• 25% of Internet users live with a disease.
• 80% seek info on their disease.• 23% follow their friends’ health
status.• Seek medical info & second opinions.• Rate products & services.• Share their experience - provide
support & encouragement.
The Connected Patient
How about physicians?
The Connected Physician• 90% of U.S. physicians go
online for health or drug info.• 92% accessed it from their
office.• 21% did so with a patient in
the examination room.• 88% looked for health info
online from home.• 59% used mobile device to
get online.
adverse effects?
best treatment?
dosage forms?
new molecules
tips from specialists?
indications?
drug interactions?
The Connected Physician…
The way forward…
Improve patient engagement
Provide relevant content & give feedback to gain patient trust, anticipate changing
needs & add value.
Increase physician engagement
Create a positive customer experience with physicians by understanding their specific clinical &
professional needs.
Through dedicated portals, CRM.
Get complete view of customers
Effective targeting & advanced analytics to evaluate customer behaviour & refine
customer segments.
Enable mass collaboration & co-
creation
Build on-line communities for co-creation & engagement while creating lasting
relationships.
Move from procedural to strategic uses of
social media Screen for applicants with digital capabilities – partner them with experienced managers.
Harness the new ways of gaining insight & creating engagement – communities, gamification.
Extend capabilities through third party providers – for content production, analytics etc.
Targeted Healthcare Portals• B2C portals - info about diseases,
medical products & services (www.intelihealth.com) to enable patients to buy OTC online (www.drugstore.com).
• B2D portals – networking, info exchange, expert advice for doctors.
(www.sermo.com).• B2B portals - connect pharma
companies, hospitals, wholesalers and pharmacies to reduce transaction costs (www.webmd.com).
What we should be asking:
Who owns “digital” in
my company?
What is my “digital” strategy?
Am I spending enough?
Am I spending it
the right way?
How do I choose my
“digital” partners?
Create a strategy around…
relationships
relevance
interaction
In which ways is our industry changing?
How is technology changing?
Are the changes evolutionary or revolutionary?
What are the implications for how we do business?
Thank YouMultumesc