Leaders in Pharmaceutical Business Intelligence (LPBI) Group

TODAY – 10:30 am – 11:30 am Business Track: The Image Problem of the BioPharma Industry – Bridge – MassBio Annual Meeting 2014, Royal Sonesta Hotel, Cambridge, MA

Reporter: Aviva Lev-Ari, PhD, RN

Conference Coverage for Scientific and Social Media

Business Track: The Image Problem of the BioPharma Industry

Panelists:

Lisa Adler, Vice President, Corporate Communications, Millennium: The Takeda Oncology Company
Maria Cantor, Senior Vice President, Corporate Affairs and Human Resources, ARIAD
Karen Carolonza, Principal, Strategy, Green Room Communications
Lori Gorski, Director, Corporate Communications, Genzyme

Moderator:

Luke Timmerman, Biotechnology Journalist

images of Biopharma took a hit in the last few years

Luke: Genzyme – did a lot to build trust with Patients.

Lori Gorski: Patient placed complaints, corporate decision to engage Patients to visit Operation of Genzyme. Patients express regret for causing PR crisis. Credibility restored. Employ need to understand the value of trust. price – global accessibility to drug: India, patient died, drug available at Genzyme did not arrive at time,

Maria Cantor: Patients expressed fear and concern, patients, had no other option, after other drugs failed. Patient demanded access to patients 390  applied 305 got access before wide availability announced. trust was not lost, relations report and communication with patients, never consider that communication with patients will ruin relations with investors. from a management perspective, do all for patients, 3 announcements, in 4 weeks on product been suspended from market. Restricted label CML drug orphan disease, 500 Patients, maintain lower margins, future access to third line, price of treatment $125,000 instead of $108,000, pt to pay $10 per month instead of $20.

Lisa Adler: Company reputation endanger, last year in Japan, company misrepresented product in material. early on collect feedback. familiarize patients by aggressive , reputation is intangible 10% of capital, Patient helps with policy. Funding innovations – multifactorial

Luke: why reputation matters, consequences, slow down in enrollment in clinical trial equal loss of money

temporary things pharma can do to improve reputation: do not charge such high prices, Regeneron, big success, vs area approach, charging a lot, reach whole market vs. niche with high price

Karen Carolonza: If phase iii fail, prepare a Program in therapeutic area, bring patients to participate when a bond is built already,