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Saturday, April 19, 2025
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IQVIA Sponsors Race for 7 to Commemorate World Rare Disease Day
“IQVIA is delighted to be associated for the fourth consecutive year as the main sponsor of Race for 7. While rare diseases, by virtue of their definition, affect relatively fewer number of patients, the overall number of rare disease patients is large enough to warrant more focused attention."
Is Pharma Losing Good SalesPeople
Articles by Gopal Kishore, K. Hariram, Pankaj Mehrotra and Vivek Hattangadi
Is Pharma’s Business Model like McDonald’s? ...
Is Pharma’s business model like McDonald’s? Doing things over & over again without innovation?
McDonald’s is famous for its Hamburger University, a training facility at the McDonald’s Corporation global headquarters in Chicago, Illinois. It instructs high-potential restaurant managers in restaurant management.
More than 5,000 students attend Hamburger University each year and over 275,000 people have graduated with a degree in Hamburgerology.
Sound familiar? Pharma’s training has been on similar lines – hire people continuously and put them through the grind of mugging up essentials of drugs for diseases that the particular company sells.
While the McDonald’s model is ideal for its business of replication, it has outlived its utility in healthcare and drug companies are in danger of being reduced to mere suppliers of drugs to new digital platform businesses unless they learn to innovate.
What Exactly Does Going Digital Mean?
Going digital is not about Social media or Omni channels. Is it about asking simple questions.
Best Buy is one of the largest electronic good retailers in USA. Few years ago Best Buy was threatened by what is now known as Showrooming effect. Basically customers would walk into its showrooms get benefitted by the advice of the salesperson, decide on the model and then go online to buy the product on Amazon because of low prices. Despite having one the best footfalls in the decade Best Buy recorded reduced profits. Although it did try to Price match Amazon they knew it was not a long-term solution because of its cost structure (Physical showrooms, salespeople etc). They couldn’t block the customers from checking price of product on Amazon. Future looked uncertain, everyone thought game over for Best Buy which was the case with many other retailing giants. No amount of investing new technology would have helped Best Buy .
Best Buy relearned how to make profits. Best Buy proposed to the manufacturers that they compensate Best Buy for exclusive showcasing of manufacturers new products. Manufacturers also could launch specific brand kiosks within Best Buy showroom for a fee. This new model which had zero investment for Best Buy dramatically increased its profitability.
Is this a ground breaking innovation? Of course NO. This has already been practiced in other industries but for the first time tried in Electronic good Retail. Best Buy realized apart from consumers it created lot of value for manufacturers therefore it captured the value lost from consumers from manufacturers.
What is my business? What is my business ecosystem? How do I currently make money? How changing one thing impacts my ecosystem? What are the options available?
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Hot topics
A Cardiologist Recounts his Fightback from a Near Death Covid19 Infection
In the lockdown, while I was on regular OPD and ICU rounds at a COVID hospital, I started noticing some mild symptoms of the Coronavirus infection. Being in the medical field and considering the severity of the pandemic situation then, I was very careful and cautious, and observed the symptoms closely. The symptoms persisted and I had to self-quarantine until the medical test reports came. It was important for me to isolate myself from the rest of the medical team and prevent the spread of the virus. Finally, the report came: I was COVID positive!
Stunned and slightly devastated; I broke the news to my family who could not believe it either. As a doctor, I could only treat, comfort and empathize with the COVID patients undergoing treatment; completely isolated from their loved ones. But now, I could actually feel the uncertainty of the situation. I was hospitalized and continued to experience body-ache during the admission. It was a stressful situation where I felt anxious and stressed about everything.
My CT scan reports showed mild lung infection on the day of admission but as the cytokines storm developed, my lungs were 76 % damaged in 3-5 days and I was short of breath and my oxygen level deteriorated to less than 80. I was shifted to an ICU with high-flow oxygen and was on a BiPap machine which I had purchased a few weeks ago for the hospital and never imagined that I would be using myself one day.
Are Digital Pharmacies a Game Changer?
Lower prices, discounts, convenience of ordering and home delivery are some of the benefits for consumers with e-pharmacies. The anonymity of the internet encourages patients to seek information about medicines that they would otherwise avoid. Mental health is one area where the consumers wish to maintain confidentiality and opt for online consultation and medication.
Winning Sales Organization
"Digital in Pharma" Special Issue. Invitation to DigiStorm2017, How to Create a Winning Sales Organization and DigiPharmaX. Avail Early Bird Discount - details inside.
Astra Zeneca Tops Indian Pharma in New Introductions 2024
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This data...
Boehringer Ingelheim India focuses on partnerships in NCD management
Addressing the media at a roundtable this morning, Vani Manja, Managing Director, Boehringer Ingelheim India said, “Boehringer Ingelheim India aspires to be amongst the top five multinational pharmaceutical companies in India over the next few years. We have been enabling access to our innovator products to patients across India and the neighbouring markets in the diabetes, cardiovascular, stroke and respiratory diseases segments. Our plan in these therapy areas is to build sustainable partnerships to ensure an ecosystem of access and care for patients. We have initiated action in that direction.”
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MedicinMan was launched in 2011 as India’s 1st Magazine dedicated to the cause of Field Force Excellence in Pharma and Devices.
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How Trump’s Tariff War Could Affect India’s Top 25 Pharma Companies
April 14, 2025
India’s pharmaceutical industry, a global powerhouse, sends...
Rx 2024 – Top 25 Drugs by Sales, Growth & Market Trends
The pharmaceutical market in 2024 saw major shifts driven...
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KKR's Investments in India's Medical Devices Market: Strategic Implications...
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