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March 2009 Archives

Innovation against crisis
posted by Javier Boix on Mar 3, 2009
Innovation is the magic recipe that many opinion leaders in the pharmaceutical industry give when it comes to talking about how the impact of the fiscal crisis can be reduced. The leader of the association that gathers the industry´s interests in Spain (Farmaindustria) stated that the future has to be faced by increasing the investment in R&D -an effort that must come from not only the industry but also the government. That´s the reason why Farmaindustria is negotiating a Sector Plan with the Ministry of Health that will be subsequently presented to the Ministers of Industry, Work and Innovation.
I was just in India as part of Leaders’Quest an immersion program that explores the connection between business and society. While health wasn’t on our agenda per se—no visits to hospitals, or doctors’ offices—I saw how intrinsic health is to the mission of every organization and leader we visited and how solutions to pressing societal issues like the environment, education, and human rights are connected to health.
On this blog, we've written about trust and engagement and the importance of transparency in communications. In the online space, transparency is imperative. Not only because it's the ethical thing to do, but also because non-transparency can be discovered and broadcasted.
Hong Kong is many things to many people but, for me, what I find to be the most startling of all attributes is the constant dichotomy in almost every facet of life. You find yourself one moment down a busy street in the center of the city surrounded by sprawling skyscrapers and the next, lost down a back alley where Chinese ‘wet market’ shopkeepers have to use body language to communicate the beauty of their savory pieces of meat or fresh produce.
The key stakeholders to target for effective engagement often vary by country and, even more so, with the times. My colleague, Elisabetta Olivotto, executive vice president of Edelman's Health practice in Milan, offers her perspectives on the changing players in Italian health engagement:
With the lack of guidance from the Food & Drug Administration (FDA) specifically for social media, many pharmaceutical companies have shied away from engaging in the space. While a few have made forays into social media, others wait for more specific guidance. Maybe this will help:
The major challenge for healthcare companies in the US and Europe is reducing the cost of healthcare. In a country of India’s size and with its inadequate infrastructure, access is a greater challenge, besides affordability. GE Healthcare*, the healthcare business of General Electric, has therefore set itself a goal – to bring diagnostic technology to the patient’s bedside. This is a welcome development, especially in rural and small-town India where two-thirds of the country’s 1.15 billion people live.