NEW JERSEY, May 28, 2002: They say change is good. If that's true, then the pharmaceutical marketing industry must be gearing up for a tsunami of goodness.

We don't have to recount the turmoil going on in the marketing of pharmaceuticals -- but if you look at the current trends, you see nothing but change -- sweeping, often drastic, changes.

First, generic competition. It's not only fierce, but prevalent. And it is changing the way we market pharmaceuticals. Veteran Rick Lane has become the CEO of Andrx Pharmaceuticals -- a generic maker with a patented drug delivery technology. Not sure about the impact of this trend -- but when a powerhouse like Lane moves over to the generic side, you know that change is underway.

Then there's the scrutiny. Former FDA commissioner David Kessler said that the DTC issue has put our industry "in the crosshairs of the public." Then there's the "drug ads drive up drug prices" argument (or folly). THis seems to be gathering steam. Public Citizen decries DTC advertising. and AARP is running anti-DTC ads in Time Magazine -- "Don't let advertising convince you to ask for expensive drugs you don't need." (Again, this is baffling to us. Consider the advertising for, let's say, Lexus -- is it driving up the cost of automobiles? Should economy car manufacturers run ads that say -- "Don't let advertising convince you to buy expensive cars you don't need"?)

Thirdly, anti-Rx legislation: On the docket at the federal and state levels all across the country -- from Maine to Michigan - are potential new laws that could limit DTC marketing, that could require disclosure of advertising costs for pharmaceutical brands, that could levy huge fines for "misleading" marketing, and other bills that could prompt sweeping changes in pharmaceutical marketing.

Fourthly, we seem to be in a slump. Noteworthy failures. Huge near misses. Embarrassing manufacturing problems. You know the brands and the companies we're referring to. Then there's the lawsuits. Lawsuits. Lawsuits. And the crushing fines. As a result of all this, practically every Wall St. analyst has questioned our sector for months now.

Fiftly, the FDA. Will there be new regulations on DTC? Will there be a commissioner before the end of the year? Will he or she be like David Kessler? This is one change we know will happen. The question is -- what will be the result of this change?

Sixthly, will there be more consolidation? It could happen. Will a GSK merge with a BMY? Will an NVS merge with an SGP? TOm McKillop thinks that the M&A will continue -- that's a big hint, we think.

As we said, change is good. So why is all this change good for pharmaceutical marketers?

First -- it means that the talented will weather the storms -- and that can only be good for business.

Second -- it means that the talented will have more responsibility and more accountability -- and that can only be good for patients.

Lastly -- it means that the talented will lead the change for the good of the industry -- and that can only be good for everyone.

When times are tough, the talented rise to the occasion.

Change = good. Talent = goodness.

PS: Arianna Huffington, you're not part of either of those equations, and we gladly ignore you and all your hot air.

 

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