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03 Health Services
How Pharma Companies Can Survive the Patent Cliff Through Digital Innovation
The pharma market is about to get busy. 2011–2013 marks a patent cliff, when many big-selling drugs went, or soon will go, off patent. 2013–2015 promises several new products jostling for attention. This time the stakes are even higher than usual, and companies will need to get their new products firmly established to secure future revenues. They will also be launching into a fast-evolving digital ecosystem.
Specific products will offer different medical merits but their success will depend on how effectively brands can blend digital into their launch process — and how much value dynamic digital services add to the product offering. Many areas of healthcare have already been busy harnessing the potential of digital in innovative technical ways: gene sequencing, diagnostic imaging, telemedicine, electronic medical records, and so on.
Many believe that pharmaceutical marketing has been slow to find the relevance of digital innovation for standard consumer offerings, but the potential to capitalise on technology for health is limitless. Where entertainment and retail may offer services and interactions that people want, healthcare has the opportunity to create services that people need.
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03 Health Services
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