Pharma 3.0: is Social Media the Third Element?
Mark Owen wonders what means Pharma 3.0:
“When I first heard the term “Pharma 3.0” I thought that it was the latest in the trend to put “x.0” (where x = 2, or higher) after everything. I was delighted to find out that it wasn’t, and there is a (reasonably) well-defined “Pharma 1.0, and 2.0” (…)
This is what defines “Pharma 1.0” – the age of the “Blockbuster”.
However, Pharma companies also realized that there is more than just having a “really great product”. “Pharma 2.0” is a period where there was a recalibration to do business leaner, nimbler and more focused on emerging realities. Effectively, the focus was on redefining the business model.
There are no precise dates when the next “Pharma x.0” period is entered, but “Pharma 3.0” has started to emerge.
Pharma 3.0 can be described loosely as “Pharma + Web 2.0”. (…)
That is, “social media” plays a big role. The advent of social media has brought a voice to the end consumer. With a greater wealth of knowledge at their hands, the patient has become more knowledgeable about their ailments, and more critical of the medicines they are taking. Insurance companies and governments are also now starting to look for real value in the medicines that they are paying for, rather than just relying on the claims of the pharmaceutical company.
As a result, the pharmaceutical company has had to redefine who the “customer is”. No longer is the customer the Medical Doctor. Now more focus is put on delivering real value to the patient.
Owen, Mark. Pharma 3.0, AIIM, Posted on 30th of January 2012.