The pharmaceutical and biotechnology industries face further marketing and sales challenges in 2005 as the fallout from the Vioxx and Celebrex market recall and warning make it increasingly challenging for companies across the industry to reach physicians and consumers with effective campaigns without the distractions of the unfavorable press these recent events have generated.
Though the drugs have proven effective and without unusual safety concerns for the vast majority of patients, the industry is particularly susceptible now to any news that raises questions about industry practices. Pharma finds itself under pressure from many points, reports Strategic Research Institute. These include a dearth of new blockbuster drugs, market fragmentation, safety concerns, an unfriendly consumer environment, and pricing/re-importation pressures. All have converged to create a business climate dramatically different from that of the 1990s when double-digit earnings and flood of new drugs were common. The business model is changing and the industry is adjusting to the realities of the new, emerging marketplace.
From February 14-15, the 3rd Pharmaceutical Marketing & Sales Global Summit, an annual gathering of executive level marketing and sales executives, their agency affiliates, and the diverse service provider community, will convene in Florida over 3 days to discuss the many topics relevant to changing marketplace, set forth strategies for the future, and meet with industry counterparts.
Among the topic highlights are the implementation of the Medicare Reform Act over the next year and a half, reimbursement and Managed Care topics, DTC, improving physician detailing and access, compliance/persistence, ROI measurements, sales force re-structuring and strategy, new technologies to better reach physicians and consumers, co-promotion/development, and dozens of additional subjects that make the information and networking extravaganza a special yearly event.
The conference features over 100 expert speakers and is studded with networking and socializing events to permit information exchange away from the ballroom sessions. Hundreds of executives from around the world annually attend the event.