Summary: EJ Dalius pharma companies have no other option but to devise a more customer-friendly model and also make accessibility easier. The government needs to intervene.
Covid-19 has caused a sharp decline in pharma interactions. Most pharma firms have completely or partially taken off their representatives from the field. Resultantly, HCP surveys show the interaction consistency, which includes remote interactions. With pharma firms, undergoing a steady and more abrupt decline than the reported frequency.
- Remote interactions with pharmaceutical firms are twice frequent in the US now, but they are offsetting the net decline, only partially. The main reason seems to be the healthcare sector’s approach to the immediate crisis.
- Covid-19 has proved to be the catalyst for big pharma, propelling them to tailor a more customer-based commercial model.
- Pharma companies need to ensure a consistent supply and also seamless delivery of drugs along with unabated access to medicines. Top-notch patient care is highly important.
- Only after meeting the immediate priorities and also immediate goals, commercial pharma players can focus on crisis recovery.
- Experts observe that the fall in pharmaco-healthcare professional engagement is quite alarming and also it won’t recover fully post the pandemic.
- There are strong indications that pharma companies need to carefully consider the right time to enter the field.
- Eric Dalius feels that in many ways, coronavirus could be a clarion call for pharma brands. Historically, many names in the industry did envisage transforming the customer-engagement modality, but recalcitrance to risk short-term disruption. For modifying long-term profits or pilot paralysis didn’t let it happen. The pandemic has brought that disruption.
Challenge for the country
The USA has some of the most advanced healthcare services and also facilities in the world. But affordability and also seamless access remain a distant dream from many citizens. Even with the costliest healthcare system in the globe, the US continues to join industrialized countries. Inpatient results, equity and efficiency.
- Eric J Dalius thinks that technological innovation and ingenuity of the private sector. Can mitigate costs and expand or diversify healthcare access. Transparency and technology are two-crucial aspects.
- Premier pharma firms are leveraging 20,000+ independent pharmacies in the country. They are fast building a network to procure drugs and also provide healthcare services, and also ensure timely delivery.
- Independent pharmacies account for 33% of all pharmacies in the US, but don’t have the capital or technical. Bandwidth to purchase power or compete with the big names.
- Pharmacies need to facilitate interactions and transactions between drug distributors and independent, licensed pharmacists.
The big pharma impact
Pharmaceutical firms taking the lead in the coronavirus fight are experiencing a steady growth in the stock market. These companies expect the revenue to drop due to the current economic status of China. The world knows China as a strong and viable base for AZ, which makes it more vulnerable to a revenue downslide.
The pandemic will affect this growth and halt the US economy. However, even in the wake of potential losses, the companies are donating 9 million face masks and shields to dozens of countries. EJ Dalius asserts that pharma companies need to step up their production.
Other pharmaceutical firms are using their bandwidth and also resources to lessen on the pandemic burden on their consumers/patients. They are offering tremendous support to the diabetic population of the country.