Data Security in Pharmaceuticals: Compliance is Key — But not Enough

It seems like we learn about a new data breach almost every day. And unfortunately for the pharmaceutical industry, it is an attractive target for fraudulent behavior.

As a professional in the pharmaceutical industry, you likely know that the typical drug costs more than $2.5 billion to develop and takes 10-15 years to bring to market. There is a particular need for pharmaceutical companies to protect drug recipes and research given the richness of their intellectual property (IP). As these organizations rely more and more on technology to conduct business, the industry has become particularly vulnerable to cybercrime. [Read more…]

Why Brand Name Development Needs to be a Part of Your Strategic Focus

Regulatory approval exists as the final hurdle to product launch – the final sign that this product, which has been studied, tested, researched, strategized – and yes, branded – is ready to find its place on the market. That it’s time for the preparation to pay dividends in making a difference in a patient’s life.
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Why Medical Affairs is the Cornerstone for Building Trust in our Industry

This article delivers a clarion call to the pharmaceutical industry to recognize, support and champion the medical affairs professional as the cornerstone for reigniting trust in our industry.

  • Medical affairs professionals are the face of our industry to healthcare professionals (HCPs) globally; rebuilding and maintaining trust among HCPs is vital
  • The primary domains of the medical affairs function – data, quality and safety – are foundations for trust building, according to 2016 data on trust in the pharmaceutical industry
  • The three elements for building trust – reliability, competence, sincerity – are integral to/ingrained in how Medical Affairs professionals operate
  • HCPs must better understand the role medical affairs professionals play in helping to improve patient outcomes

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Beyond Traditional Marketing: What are the New Strategies for Pharma Sales?

Sales targets! Profit margins! Lead generation! Conversion rate! Market share!  These are terms that constantly haunt sales individuals. From giving doctors expensive gifts to recommending off-label uses for drugs, pharma sales representative were more concerned on achieving sales goals rather than ethical considerations. But now it is changing. With the new code of ethics guidelines from OIG and PhRMA, traditional sales and marketing activities are triggering enforcement actions. So what are the new marketing strategies pharma companies are considering? [Read more…]

Combating Fraud, Waste and Abuse in Pharmacy Claims with Advanced Data Analytics

Combating Fraud, Waste and Abuse (FWA) in Pharmacy claims continues to be a top priority for healthcare payers. Sophisticated payers are applying multi-layered FWA solutions to comprehensively address FWA issues.  Robust Pharmacy FWA solutions provide significant benefits to payers across compliance, member safety and savings by providing insights at provider, pharmacy and member levels. In addition, these solutions also offer flexibility to handle payer’s unique business requirements, the ability to frequently update algorithms with changing industry trends and refine rules to minimize false positives on an on-going basis. [Read more…]

Navigating Compliance in Animal Health and Veterinary Drugs

The growing trend of pharmaceutical companies venturing into the animal health products realm makes knowledge of regulatory and compliance considerations within this sphere increasingly important. While the central governing regulatory body for human health pharma in the United States is the FDA, within animal health, several additional agencies can play a significant role. In addition, a growing number of animal health pharma companies are now manufacturing products in other countries, only adding layers of complexity that can surround animal health pharma compliance. [Read more…]