The pharmaceutical industry faces pressure from investors to slash its spending because drugs generating an estimated $30 billion in sales will lose patent protection over the next several years, sparking competition from less-expensive generic drugs. The recession may trigger even bigger spending cuts, analysts said, if cash-strapped consumers start filling fewer prescriptions or turning more to generics.
The head of public relations for the pharmaceutical giant Pfizer makes free food a centerpiece of his tips for managing journalists an industry conference, Advertising Age reports.
… [Ray] Kerins claims that that his team has no agenda when journalists are made honored guests at corporate headquarters. But, as someone who has worked in the pharmaceutical industry, writing ad copy for various well-known brands including some of Pfizer“s products, I can categorically say Yeah, right. He may not be pitching specific stories, but he“s almost certainly mounting a charm offensive.
The first thing we do, let’s kill all the lawyers PR and HR executives, not the scientists. Who’s to hire and what’s to communicate when business fails to meet investment expectations? As I often say, a technology company cannot retain value for very long without technologists, nor by ignoring or manipulating the competition.