No patents. No launches. No stages. Welcome to modern pharma.

  It ’s not enough to have a customer experience strategy, give it a little funding, and hope it somehow takes off.  Companies outside of healthcare that are winning in experience treat it like a core product.    That means they have a senior leader overseeing a team and full P&L dedicated to the success of that experience, both the overall and micro-moments.  What is keeping pharma companies from doing this?  If you follow the money, things become clear.  Traditional confines based on milestone dates put a tremendous amount of stress on an organization to maximize its investments in a finite window of time.  The following highlights the dynamics that occur today around funding priorities, and how that works against the success of customer experience efforts. Time pressures on drug development and patent expiration There are many phases of drug development, and the three that tend to garner the most attention are Phase III, Launch, and Patent Expiration.  For those at large pharma companies, not only does funding quickly shift to drugs as they approach and move through steps, but the office culture shifts.  And it pairs with the following anxiety: •Stage III: “We’re so close to turning this investment into a return.  How fast can we responsibly move through this phase and hopefully start recognizing a return?”•Launch: “The clock is ticking on day one.  How do we generate demand ASAP?”•Patent Expiration: “Let’s make one last push to ...
Source: EyeForPharma - Category: Pharmaceuticals Authors: Source Type: news