Principal of Flaum Navigators, specializing in finding new and better ways to grow business. Author of 100 Mile Walk, Big Shoes and more. flaumnavigators.com
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Articles by Sander A. Flaum
Instead of worrying about drug costs, let’s worry about the cost of drugs that don’t work!
Instead of worrying about drug costs, let’s worry about the cost of drugs that don’t work! In the closing days of 2019, the U.S. House of Representatives narrowly passed legislation that would, among other things, allow Medicare to refuse to pay for specific drugs it deemed too expensive. Although this piece of political grandstanding will never become law, it is dangerous in that it overshadows a truly sensible bill that does deserve our support.
Forget About Pharma Profits and Focus on Drug Tort Reform
Forget About Pharma Profits and Focus on Drug Tort Reform Here’s a question for those who claim pharma profits are obscene. Have you looked at the drug tort industry? It’s huge! Sure, all drugs have side effects, and we take pains to help patients avoid them. But in today’s litigious environment, if patients experience a side effect, they – in the words of drug injury ads – “may be entitled to money damages.” Take one company — Johnson & Johnson.
Don’t believe the bluster: many American’s like their healthcare!
Don’t believe the bluster: many American’s like their healthcare! Anyone who’s been watching the Democratic primary debates knows that two of the three front-running candidates routinely equate Pharma executives with 19th century robber barons. It’s almost laughable when we see Bernie Sanders, having just suffered a heart attack, energetically resume his assault on the industry that saved his life.
Gimme a Break!
Aug 19, 2019 By Sander A. Flaum As the former CEO and then chairman of the board of French-owned Euro RSCG Becker, I spent a lot of time in Paris. With my laptop and PowerPoint presentations in tow, I was whisked off from 350 Hudson Street to Kennedy Airport onto Air France (a Euro RSCG client) and off to Paris with my Sonata capsules in my shirt pocket.
Goodbye Superman; Hello Team!
Aug 19, 2019 By Sander Flaum Sander A. Flaum has some advice for hard-driving, stressed-out senior executives: don’t try to be Superman. He predicts that the most successful leaders of the future will look to the top chiefs of the past (Jack Welch, for example) who built A teams to share the burden—and the glory. The brain, despite our wishes, has not evolved for higher level multi-tasking.
When is the Price Right? – Why Including Rx Drug Prices in TV Ads May Misfire | Flaum Navigators
Home/Uncategorized/When is the Price Right? – Why Including Rx Drug Prices in TV Ads May Misfire When is the Price Right? – Why Including Rx Drug Prices in TV Ads May Misfire On May 8, 2019, the Centers for Medicare and Medicaid Services (CMS) decreed that wholesale acquisition costs (list price) must be included in DTC prescription drug television advertising. This decision was no surprise.
Amgen’s innovative osteoporosis drug is something we can all get behind
Amgen’s innovative osteoporosis drug is something we can all get behind Amgen recently had two big wins. First, after years of wrangling with the FDA, they finally won approval for their innovative osteoporosis drug, Evenity. Second, Amgen launched Evenity at a price based on value and convenience that actually undercuts other treatments. Why is this exciting? The obvious: millions of people at risk for osteoporotic fractures have a new treatment option.
We Can’t Surrender the War Against Cancer
We Can’t Surrender the War Against Cancer Tucked into the next-to-last paragraph of a recent New York Times editorial (“What’s Good Health Care Worth?” February 17, 2019), you’ll find the following scary thought: “It may make sense to forgo innovations that a growing number of people can’t benefit from in exchange for a program that sets fair prices at the outset and doesn’t leave people rationing low-tech essentials or begging for donations to cover basic costs.” In other words, new...
Is it Time for Big Pharma to Think a Little Smaller?
In the late 1990s, I ran into an old Army buddy who revealed that he had become an investing wizard. His secret? “Just buy any company with a ‘dot com’ in its name.” Well, we remember how that turned out. It’s easy to be a business genius when customers love you and the dollars are pouring in. But when markets change and your revenue curve begins to sag, that’s when you discover how skilled you are. I was reminded of this story by an article in the Wall Street Journal (June 22, 2018).
A Radical Idea for Congress: Make Drugs Cheaper By Getting Out of the Way
During the 2016 campaign, then candidate Donald Trump thundered against the “rip off” prices of prescription drugs. Why not? Demonizing an unpopular industry always makes a good sound bite. However, during his first year in office, President Trump did little about drug prices except occasionally bash pharma (or its leaders.) Finally we’re getting particulars.
Why Any Merger is the Last Resort of Lousy Marketers
It might be funny if it weren't so scary. Aetna is wooing Humana and Anthem is pursuing Cigna. As I write, it looks as though Aetna may prevail, but the Department of Justice is frowning on the Anthem deal. Aetna has $37 billion on the table, and Anthem is offering $53 billion. Ask the companies involved to justify such vast sums and they'll say: “We're just want to save customers money and improve healthcare.” Spouting this level of BS should be a federal crime.
Will Investors Reward Drugmakers That Limit Price Increases?
Someone else will. And it won't be pretty, to be sure. It won't be long before Congress will tire of simply badgering pharma CEOs and decide to actually do something about pricing scandals. Maybe they'll create an oversight panel with the power to impose fines for “predatory” pricing. Or perhaps they'll allow Medicare to negotiate drug prices directly with manufacturers. But why stop there? Why not require that pricing be part of every NDA? Insert your own nightmare here, please. Forget the critics.
Okay, We’ve Passed the “Right to Try -- What’s Next?”
For more than a year, “Right to Try” legislation was mired in Congress. This was surprising, considering that the bill had already been passed by 38 state legislatures. When the Federal version was eventually passed and signed into law by President Trump on May 30, 2018, it was hailed as a victory both by the Administration and patient’s rights advocates. Good for them. The bill’s emotional appeal is undeniable.
Focus turns to future after Right to Try Act passes
For more than a year, right to try legislation was mired in Congress. This was surprising, considering the bill had already been passed by 38 state legislatures. When the federal version was eventually passed and signed into law by President Donald Trump on May 30, it was hailed as a victory by both the administration and patients' rights advocates. Good for them. The bill's emotional appeal is undeniable.
Pharma Ad Agencies: Time for a Reboot?
According to the Wall Street Journal, global advertisers are cutting their ad spends — especially when it concerns digital ads. Procter & Gamble is cutting its digital spend by more than $200 million. Not surprisingly, WPP announced, almost simultaneously, declines in net ad sales with no prospects for growth in 2018. It’s no different when it comes to Pharma ads. According to Kantar Media, in 2017, total Pharma ad spending dropped by nearly 5% – the first drop since 2008.
Moving Forward - Without the Promotion
It may sound wacky, but if you're not busy climbing the corporate ladder, you've probably settled into a spot where even being considered for promotion is unlikely. Most high-risers shoot up fast; they land an entry-level position and immediately stand out as future stars. Within a year, or even more quickly, they've been bumped up to the next level. This continues until, inevitably, two rising stars are competing for the same slot.
Think You Own Your Brand? Think Again
Who owns a brand? Lawyers will tell you it's a matter of copyright and trademarks. But that's bull. Your customers own your brand—100%. Every little bit. When consumers think of BMW, they're believing that if only they owned a BMW, they'd be the Ultimate Driver of the Ultimate Driving Machine. BMW's job is to never defame its brand essence.
You Have 100 Days To Make An Impact. What Are You Waiting For?
You've joined a new company. Everyone you've met during the hiring process assures you that you'll be a star. But they also know the reality. Most new hires will fade into B and C players. A few will simply flop and disappear. Only a handful will become standouts and go onto great things. As a rule, the judgment about where you fit in will be clear within the first 100 days. Sounds unfair? Maybe, but that's life. To launch a successful career, you need to scramble in into the top tier as fast as you can.
Drugs’ value to patients eclipsed by price tags
Don’t let critics put the blame on Pharma. As with many other sectors, our industry is experiencing upheavals that no one had predicted. Years ago, we developed blockbusters like beta blockers, antianxiety products, antibiotics and statins that improved the lives of millions of people. Thanks to these numbers, drugs could be marketed at prices that not only supported ongoing research; but were also affordable. Today we’re being squeezed.
Health diagnostic startup Nanobiosym brings on Finn Partners as AOR
Diagnostic biotech startup Nanobiosym has hired Finn Partners as its PR AOR. Nanobiosym's platform, Gene-RADAR, is a mobile health diagnosis unit. The technology was approved last month to test for the mosquito-borne illness Zika. “We have been developing the science and technology, and now its FDA-approved, but people don't really know we exist yet and what we've been up to,” said Nanobiosym founder, chair, and CEO Dr. Anita Goel. “There's a lot of noise in the field.
5 things for pharma marketers to know: Tuesday, May 22, 2018
Pennsylvania-based Geisinger Health System is offering DNA sequencing to 1,000 patients with the goal of looking for mutations in 77 genes with the hope of revealing medical conditions and examples of how treatments affect individuals. The health system hopes to expand the program to include all 3 million Geisinger patients. (Kaiser Health News) Dova Pharmaceuticals has received FDA approval for its drug that treats low blood platelet count in patients with chronic liver disease.
Meet the 2018 Women to Watch Honorees
Taylor Bicchieri, account supervisor, Area 23 Taylor Bicchieri has earned the reputation as a launch leader and portfolio expert, able to build brands from the ground up and think strategically about how every tactic fits into a bigger picture. Her work spans several therapeutic areas, including neurology, allergy, asthma, gastroenterology, and over-the-counters for both U.S. and global teams.
Genevieve Paquette, Level Ex
What would you do if you didn't work in healthcare? I'd be a professional guitarist or teach music to children. Playing, or these days just listening to, music has been a driving force in my life. It's the primary way I express myself and feel creative, and I use it as a way to stay connected to others. While I no longer engage in the music industry how I used to, I'm now exploring different musical genres with my 4-year-old son, with a plan for him to read music in the near future.
Elena Cant, Takeda
What would you do if you didn't work in healthcare? I would work in education. My childhood dream was to become a teacher. Educators, like healthcare practitioners, can make a tremendous impact on the lives of others. It just takes longer to see the results of their impact. How long ago was the last time you recharged your batteries? Last weekend. I love gardening and am always re-energized in spring when the gardening season begins.
Neera Chaudhary, Golin
Anything at the intersection of science, business, and art. Talk about the last time you experienced a fist-pumping victory moment. When my amazing healthcare team won a massive new business pitch with a unanimous decision, and I finished one of the world's hardest jigsaw puzzles with my brother (both on the same day). When was the last time you endured an "agony of defeat" moment? What did you learn from it?
'300' director Zack Snyder takes Leukemia & Lymphoma Society campaign in bolder direction
The Leukemia & Lymphoma Society is taking a bolder stance with its latest branding campaign and tagline, “Beating Cancer Is in Our Blood,” directed by Hollywood director Zack Snyder. The campaign is focusing on the blood cancer advocacy group's contributions to the development of treatments, said Andrew Coccari, chief product officer at the nonprofit.
Plan D: Experts predict government savings, but higher co-pays with Trump plan for lowering drug prices
As a candidate for president, Donald Trump was a vocal supporter of allowing the government to directly negotiate with pharmaceutical companies to reduce drug costs under Medicare. However, that proposal was notably absent from the president's plan to lower prescription drug prices that was detailed last week.
Meghan Rivera, Amag Pharmaceuticals
What would you do if you didn't work in healthcare? It's always surprised my family and friends that I did not end up in the arts. When it was time for me to think about college, I ended up getting into an art school in New York City for my sculpting and painting. I also received a scholarship offer for creative writing. If I didn't end up successful in healthcare, I likely would have gone back to my passion for the arts. Talk about the last time you experienced a fist-pumping victory moment.
Linda Ruschau, PatientPoint
What would you do if you didn't work in healthcare? Be a talk show host. I love to get to know people. My teammates laugh at me because I interview every Uber and cab driver. People have such interesting life stories if you take the time to listen. Talk about the last time you experienced a fist-pumping victory moment. We've been in a really competitive industry, and for the past three years I've been coaching my team — almost preaching — to just keep doing what's right and good things will come.
Johanna Skilling, Ogilvy CommonHealth Worldwide
What would you do if you didn't work in healthcare? Can I throw in some time travel, too? I'd be singing the blues in a small club in the 1930s. Seriously, if I weren't working in healthcare now, I'd be spending my days in public service, preferably for a non-governmental organization focused on achieving one or more of the United Nations' 2030 Sustainable Development Goals. How long ago was the last time you recharged your batteries?
Becky Chidester, Wunderman Health
Talk about the last time you experienced a fist-pumping victory moment. Pass It On is an initiative for women at Wunderman for which I'm an executive sponsor. One component of the program is bringing together a diverse pool of women to participate in workshops in which stories are shared, fueling a sense of purpose and empowerment. Our last workshop — like many — started with hesitation and cynicism.
Five things for pharma marketers to know: Monday, May 21, 2018
Following two rejections, AstraZeneca's potassium drug Lokelma has received a green light from the FDA. The approval could result in a threat to rival Vifor Pharma, which also produces a potassium drug. (Reuters) Nabriva Therapeutics' pneumonia drug for adults met its main endpoints in a Phase III study. The company is expected to file a marketing application with the FDA this year.
Alisa Lask, Galderma
What would you do if you didn't work in healthcare? Prior to my current role at Galderma, I worked in consumer packaged goods and grocery. I would love to take that experience and work on Nestlé incubator projects to drive innovation in nutrition and wellness. Horses are my personal passion. If I weren't working in the corporate world, I would be on the farm riding my horses bred for jumping. Talk about the last time you experienced a fist-pumping victory moment.
Wendy Blackburn, Intouch Solutions
What would you do if you didn't work in healthcare? I'd probably do something in animal behavior or advocacy. Talk about the last time you experienced a fist-pumping victory moment. Each time Intouch has won Agency of the Year – five times so far. We built the agency up from a tiny startup, and it feels fabulous to have all that hard work recognized. When was the last time you endured an "agony of defeat" moment? What did you learn from it?
Five things for pharma marketers to know: Friday, May 18, 2018
The FDA has approved the first preventative migraine treatment from Amgen. Aimovig is the first drug specifically approved to prevent migraines, while other treatments used to prevent the ailment were designed to treat other diseases, like high blood pressure. (New York Times) Amgen has been running an unbranded migraine awareness campaign, called Speak Your Migraine, since last summer. (MM&M) The first non-opioid drug to treat opioid withdrawal was also approved.
How Amazon's culture fuels innovation
What's the secret ingredient to Amazon's innovation success? Working backward from what the customer wants. Speaking at the MM&M Transforming Healthcare conference on Thursday, Shaun Qualheim, global life sciences solutions architect at Amazon Web Services, said the lessons learned from Amazon's many innovations can be applied to any business, including pharma. “We believe there's value across industries, including in pharma,” he said. “It's empowering others that helps you innovate.
'Less about the product and more about the patient': Soundbites from Transforming Healthcare 2018
Healthcare panelists discussed technology as a driver in improving collaboration among pharma, payers, providers, pharmacies, and patients at the MM&M Transforming Healthcare conference. Scroll down for a bite-sized roundup of their thoughts. It's about thinking more broadly about the consumer and patient experience. If you want to fix the broader problem, you need to be thinking more broadly about the patient.
Making headlines: Key moments throughout Martin Sorrell's historic career
There had been high drama, as the employees of D'Arcy MacManus and Masius were forced to flee the agency's St James's Square office when it had become the temporary headquarters for anti-terrorist squad officers during the Iranian Embassy siege a year earlier. With so much going on, not too much notice was taken of an astute financial whizz called Martin Sorrell as he prepared to quit Saatchi & Saatchi to begin building his WPP empire.
Biden Initiative's Greg Simon: Innovation comes when health system collaborates
To spur innovation in cancer treatment and healthcare, the industry needs to get the “elephant” out of the room. That's how Greg Simon, president of the Biden Cancer Initiative, described the subconscious bias that keeps healthcare professionals in their lanes, stops them from asking questions, and making change. “Turn off your subconscious,” Simon said at the MM&M Transforming Healthcare conference on Thursday. “Apple. Steve Jobs.
'When we look at health we have to unpack emotion': More soundbites from Transforming Health
Expert panelists discussed their role in boosting patient-level outcomes at the MM&M Transforming Healthcare conference in New York on Thursday. Scroll down for bite-sized snippets of their conversation What physicians want is more simplicity when it comes to coverage. They want transparency when it comes to price rebates and how that constrains what they'll be prescribing. If they want to use a non-preferred method, how do they go about that process?
Five things for pharma marketers to know: Thursday, May 17, 2018
Greg Simon, head of the Biden Cancer Initiative, kicked off the 2018 MM&M Transforming Healthcare conference by describing a lack of patient healthcare data sharing that affected even the former vice president's late son. “Our system is not designed to help people share, and that's one of the things we have to help change,” he said.
Read the May 2018 Digital Edition
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Interview | Rick Ford, TrialCard
Copyright © 2018 Haymarket Media, Inc. All Rights Reserved This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions.
The future of the agency model in a post-Sorrell era
What began in 2006 as Team Detroit, five agencies working "horizontally" together to help the car-maker, had morphed into a huge, WPP global unit, Team GTB, in more than 40 offices, Sorrell declared proudly. Satish Korde, head of Team GTB, who had joined the WPP chief executive on-stage, pointed to a slide that showed the logos of "more than 20 WPP companies" that worked on the Ford account.
Former FDA commissioner Califf to pharma: opening up on health data requires overcoming risk
Califf, speaking at the NewYorkBIO conference on Wednesday, lamented the high costs of drug development. He said drugmakers can and should use the tools from the “Fourth Industrial Revolution” to make the process better. “The idea is that physical, biological, and information sciences are converging into a single discipline,” Califf said. “I think all of us can see this happening, but we're just on the front edge of it.
Five things for pharma marketers to know: Wednesday, May 16, 2018
The top lawyer at Novartis is resigning after payments the company made to Trump lawyer Michael Cohen became public. Felix Ehrat has decided to step down after seven years at the drugmaker after it was revealed he co-signed the $1.2 million, year-long contract with a shell company set up by Cohen (Bloomberg). "Although the contract was legally in order, it was an error," Ehrat reportedly said. (Reuters) Six states filed lawsuits against opioid maker Purdue Pharma.
AstraZeneca's Joe Shields to launch Health Accelerators with Think Patients
AstraZeneca executive Joe Shields is partnering with Think Patients CEO Joe Meadows to launch Health Accelerators, a B2B marketing services agency supporting suppliers to life sciences companies, at the start of June. Shields will serve as cofounder and president of the firm, which will be a subsidiary of Think Patients. “We see a niche in the supplier community for high-quality, precision marketing services,” said Shields.
Five things for pharma marketers to know: Tuesday, May 15, 2018
The Justice Department has joined the whistleblower case against Insys. The lawsuit has accused the pharmaceutical company of offering kickback to doctors in exchange for prescribing its opioid pain killer, Subsys, a spray form of fentanyl. (Reuters) Meanwhile, a new JAMA study found that doctors who received free meals and other forms of compensation from pharma companies increased opioid prescriptions, while those who did not receive such payments reduced them.
17 days that rocked WPP
Sorrell, the most powerful man in global advertising, knew the board had begun an investigation into allegations of personal misconduct against him but was unaware of the details when he faced Wilmerhale's lawyers in WPP's Farm Street office. At that stage, only a tiny circle of people inside WPP knew that a whistle-blower had raised concerns about Sorrell's behaviour – about 10 days earlier.
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