Category Archives: biotech

Breaking: Yahoo is not a speciality pharma company

Dan Primack gave his fellow journalists a pretty hard time about their saturation coverage of the Yahoo / Tumblr deal and their simultaneous failure to cover specialty pharma company Activis’ acquisition of Warner-Chilcott today in a Fortune piece.

I think Dan is right on with this point:

Notice anything horribly amiss? Particularly once we consider that Tumblr basically is the latest/greatest means for teens to express themselves, while Warner Chilcott develops products to help people manage serious diseases and prevent unwanted pregnancies.

But as much as I agree, I think the post underestimates the power of public relations and puts at least some of the blame in the wrong place. The post points a finger at journalists and their consumers for being somewhat shallow, but I think a lot of it is actually reasonably business strategy.

What do you think the gap was in the relative PR spend between these two deals?

I bet Yahoo! spent at the very, very least a cool half million on on Mayer’s Tumblr post and that cute .gif and media outreach. Activis? Probably not close to that much.

Not to mention the press release copy:

Screen Shot 2013-05-20 at 10.53.19 PM

I did PR for biopharma companies for four years, and these companies expect an Activis / W-C style release and campaign. Anything else is viewed as completely insane. You could argue that’s fine.

Their audience is their stockholders, not the media. They need to write a release that tells investors the deal is fiscally sound.

Yahoo! and Tumblr are most concerned that Tumblr users sees this as a cool, quirky deal reflecting the cool, quirky culture of Tumblr and that they dont disengage with the platform. Because investors would not so much like that.

Maybe some reporters DO look under every rock to try to cover the stories that are most important to society, and maybe Dan’s article is right about the reasons coverage is so unbalanced.

But I think it’s a pretty simple case of using resources to meet business needs. If medical companies see consumer-style PR results as a goal, they should (and sometimes they really should) hire creative agencies and give them leeway to do so. Until then I think we’ll always see the imbalance that Dan points out – no matter how well intentioned journalists may be.

This is the time when I give a shout out to the good people at MacDougall Biomedical Communications. They rock. They’re creative. And they’re hiring.

And Andrew and Charles and others who were discussing this on the Twitters today.

Life Science + Digital Health + Tech Blog List

It seems like digital health and drugs/diagnostics/delivery are maybe starting to rub off on each other a little bit. David Shaywitz said it well in his column last weekend:

The good news is that some digital health companies (though still precious few tech-oriented investors, who have remained generally skittish) are beginning to brave the complexities of what might be called “real healthcare”.

Totally agree. It’s a good sign.

On that note, I realized my blog list is nicely curated to cover the spectrum from ‘hard science’ to TechCrunch (no offense, TechCrunch). This isn’t totally comprehensive, but it’s probably a decent starting point for biotech / business / digital health / tech. I’m sure I missed some and will update. And, not for nothing, posting it here will make it easier for me to email to people…

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A Beginners Guide to Surviving an Overwhelming Professional Event

This guide specifically references my own personal experiences straight out of college at a certain January healthcare conference in San Francisco, but it’s applicable for any fresh-faced yuppie trying to navigate their first conference, meeting, symposium or interstellar peace summit.

First, you must give a shit. I’m sorry to drop mild profanity in the first sentence, but it’s true. You must want to succeed for reasons beyond your bonus, review, paycheck or business card collection. Otherwise you’re in the wrong business and you should stop right here and go read a self-help book. Or a coming-of-age novel. Or just listen to some Bon Iver and look smug. You must really give a shit about what you’re doing because you want to learn and grown. 

Second, prepare. If you’re part of the planning team re-read every single thing you’ve created at least two, nay, three dozen times. Write down what you need to do and where you need to be. Write down what other people need to do and where other people need to be. Cross-reference.  Repeat. Make lists. Lots of lists. Store them in Dropbox. Put Dropbox on your phone and your iPad (you should get an iPad). Read your lists again. Check your documents. Proof read your documents. Then do it all again.

Third, get smart on things that aren’t your job. Know things about your industry that you don’t technically need to know. Read blogs from last year’s event. Read a history of the industry. Google stalk anyone you might meet. Yelp the area restaurants and bars. Get an Uber account. Now forget it all. You don’t need to go around town dropping knowledge bombs. Timing is everything. Keep just enough information in your brain to be interesting, informed and prepared in case of emergencies. And keep lists. Keep your lists close to the vest. Check them frequently.

Fourth, listen up. Don’t excuse yourself until you’re asked to leave and don’t try to interject. Just listen. You’ll learn a lot and then you can go drop those knowledge bombs somewhere appropriate.

Fifth, it’s an oft quoted and parodied phrase but I think that’s because it’s such an important mantra. Keep Calm, my friends. Keep Calm and Carry On. And by all means, smile. Make it a real smile. Think of a funny joke if you must. Here’s one: What did the fish say when he swam into a wall?

Finally, try to remember that there is always more alcohol. I’m sure whoever you are you would never, ever allow yourself to be over-served in a professional situation. Ever. But when you’re making just enough to cover rent and suddenly you have seven open bars and an after party in a row, it’s hard to remember that you don’t need to hoard alcohol in your stomach. But you don’t. I promise. Nor should you try to store extra drinks in your purse or backpack. It’s bad for your electronics. Speaking of which, bring extra chargers.

That’s all I’ve got. Good luck. If you get really strung out call (719) 26-OATES. Press 2 for Rich Girl.

Oh, the answer was, “Dam.”

 

Mad props to a one @chriserdman. Who taught me most of what I know. 

Fresh ideas. Served online. Social media musings from #BPA11

At the Biopharm America (#BPA11) conference in Boston this week I attended a panel on social mediain the biotech industry. The biotech industry is way (way) behind consumer and tech when it comes to having an online dialogue about the questions and issues that are important and, frankly, it drives me crazy.

Biotech doesn’t lack passionate people – but many of their voices are seldom heard unless you know them personally. This panel featured industry thought leaders who have established an online presence and the beginnings of a community. The BPA11 panel unanimously agreed that the most compelling, interesting and useful people to ‘follow’ online are just that – people. Not companies.  Just as how the best interactions come over coffee or beer, not at a booth in an exhibit hall.

This concept resonated with me because I often feel somewhat hypocritical in my day job when we warn clients about the ‘dangers’ of starting a corporate blog. For the biotech industry social media still has many, many unknowns and, with limited resources, I think it’s true that most biotech companies don’t actually need a blog. But there are still voices within these companies that should be heard. The solution, I think, is to get more individuals tweeting and blogging and joining the online conversation as representatives of themselves. Of course – just like in the real world – you have to represent yourself honestly and professional. But there is certainly less of a burden when your voice is your own, and it’s also easier to admit mistakes as a person than as a company.

This panel really helped harmonize my thoughts on the social interwebs and its application for biotech. It’s not that we need more companies with sanitized Twitter feeds and blogs. It’s that we need more passionate individuals willing to join the daily conversation and share their thought processes and ideas transparently with the biotech community.

Another message that came through loud and clear at this conference is that the biotech industry is desperate for new ideas. By turning up the volume (and the awesome) in the ongoing online dialoge perhaps we can help these ideas take shape, grab hold and create real innovation.

Huge thanks to the panel participants for sharing their thoughts and helping me continue to form my own. You should absolutely start following them and their communities:

Drugs are Not the Answer.

I’ll tell you one more time, kids: drugs are not the answer. Information is the answer. 

Some decent insights there in Xconomy. Summarized:

2011. Electronic medical/healthcare records. Telemedicine. Genetic profiling. Primary care. Time-saving technologies.

I love drugs as much as the next person, but the next major improvements in medicine are going to be about gathering, analyzing and acting on information. Truth.

A tale in five iPhone camera photos

I’m talking about a place where the four loko flows like wine and where live music is played in bars that smell like urinal cakes, where the beer comes in limited edition corked bottles and mountains rise up as if the result of relatively recent  tectonic plate movement.

Yes, friends, this is California.

Pre-conference.
Monday night in San Fran means Bachelors at the Saloon.

Also, there was work. 
And then work was over.

Happy ending.

99 problems, and market size is one

From Matt Herper/Forbes: Rare Disease Drugs: A $1 Trillion Market?: ”

“But this is a real reminder of how big a market has to be to get companies to develop a new treatment, and that’s a fundamental fact – and challenge – when it comes to curing any disease. People tend to think of the profits that pharmaceutical companies make as payment for the research they do. But it’s more like the jackpot in a lottery — a very big prize most drug developers will never get. (Collins also noted that only 5% of drugs that start development make it to market.) If the pot isn’t sufficiently big, the money gets invested somewhere else.

i’m here for the profits, i mean patients.

most excellant freudian slip around 6:30.