Global Pharma Sales : The Era Of Data Driven Marketing By Big Pharma

1081 Words Sep 22nd, 2016 5 Pages
i. As of 2014, Global Pharma sales had reached over a trillion dollars, and they are continuing to climb every year. With the advent of electronic medical records, the era of data driven marketing by Big Pharma has come under several ethical issues. With patient’s data being readily available for purchase by Pharmaceutical companies, their drug reps can pinpoint which doctors to approach, and which drugs they should approach them with. Drug reps generally only approach doctors that write a large amount of prescriptions, and for good reason. A single doctor could literally add 100-200k in sales for a Pharmaceutic company through prescribing their drugs. They will use terms like, “Thought Leaders”, or “Educators” and pay the doctors to lecture about the drug they are promoting to other doctors with vetted slide shows and information.

The majority of Big Pharma are publicly listed companies, that have spent large amounts of money on drug R&D or outright acquisitions of drug patents. The main goal of any public company is to make money and be profitable. Because of this, the drug reps will push their companies patented drugs over competitor, and generic drugs no matter the cost increase or ineffectiveness of those drugs. With the influence of prescription data, and paid speaking requests, drug reps can literally manipulate a doctor into prescribing drugs that aren’t even needed by patients, and in some cases, can do more harm than good. One of worst aspect of this…

Related Documents