The Future of Pharma
It was a treat to speak with Nigel Walker of That’s Nice about the future of pharma. The vision of the pharmaceutical industry is to sustain increased active and healthy longevity. Customizing treatment to the individual patient is one road to that future vision. That means leveraging an understanding how people differ into innovations. That means building predictive models that define target patients and expected performance of the innovation which support that level of customization. For the model results to be as accurate and applicable as possible, algorithms must be based on data from all people—particularly those that have been historically overlooked.
There are various ways to expand the data needed for the algorithms of those models. Some of those have been surreptitious. Data has been collected from individuals without their knowledge or consent. In some communities, that approach has bred suspicion of algorithmic control and resistance to the idea that contributing data would enhance the quality of customized pharmaceutical models for them.
Seek Greater Diversity
You know you need more diversity if your business is going to become the organization you want to be. People who bring diverse viewpoints will improve the quality of your work and the solutions you are seeking to provide.
Overcoming resistance requires that these communities have a say in the development and use of the data. Plus, honest messaging to overlooked communities must tell the story of what’s in it for us—for me to participate in clinical trials, share genetic information and provide feedback after taking medication as prescribed with ethical resources. Those resources can provide 2 key benefits:
- The insights and application of the models are equitably shared.
- The distribution and pricing to those communities are timely and within the reach.
Many in pharma intermediates might say, “That’s all well and good. But my customers are not patients. Communicating to patient decision makers and those who can influence their behavior happens upstream.” However, even at the intermediates level, infusing end user communities’ needs, values and attitudes into value propositions can be a differentiator. By reflecting insights of overlooked communities in your offerings, you add greater value to your direct customers and support the vision of making innovation available to all.
Breakthrough Marketing Technology generates execution plans based on data analytics to motivate target customers to change their behaviors in favor of your offering – across the value chain. We’re happy to talk with you about how to motivate your target customers.
B2B companies are increasingly finding that their existing product-driven businesses are having difficulty growing and differentiating themselves from their competition.
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