How much damage can one person do? In the case of the pharma industry this week, the answer was quite a lot. That one person was Martin Shkreli, the CEO of Turing Pharmaceuticals, who hiked the price of its newly purchased toxoplasmosis drug Daraprim by more than 5000%. Universal social media criticism and outrage over "price gouging" followed, along with a financial hit to biotech stocks.
This could go down in pharma history as the week that drug pricing met pop culture. But this week won't be remembered as the one when drugmakers lost their long-standing pricing power in the U.S. That, at least, was the word from analysts and at least one top pharma CEO as politicians vowed a crackdown.
Tweet on, drugmakers. Not only is Twitter use by pharma companies on the rise, but so is interest in what they've got to say. A recent survey by the Eye on FDA blog found more daily interactions on Twitter by pharma, along with a marked increase in followers versus last year.
Are pharma social media FDA infractions slipping through the cracks? It took more than three weeks for the FDA to notice Kim Kardashian's regulation-bending Instagram post paid for by anti-morning sickness drug Duchesnay's Diclegis. Similar misleading claims on social media might be going unnoticed altogether, Vox suggests.
The "Kardashian Effect"--it's a term to describe the way reality TV's Kardashian family, especially daughter Kim, influences beauty and fashion trends. Now, the Kardashian Effect has come to pharma.
Stereotyping in male-dominated professions like engineering is nothing new. But one young female engineer in San Francisco had enough, after she appeared in an ad for her company--and then faced a backlash on social media. She didn't look like an engineer, the critics said.
Brands are ditching agencies and bringing digital marketing in-house in bigger numbers than ever, and that includes pharma companies. A new study from the Society of Digital Agencies found that "the percentage of clients taking full responsibility for digital efforts at their companies grew significantly" year over year.
Social media success in consumer marketing has advanced beyond counting fans and followers. Today it's all about shares, retweets and links that indicate real consumer engagement with brands....
A congressman is taking aim at perceived flaws in FDA's long-awaited, much-discussed guidance on the use of Twitter.
A Missouri congressman wants to know why the pharma industry is sitting on the sidelines of social media. Actually, Rep. Billy Long (R-MO) has an idea why--and he's proposing legislation to change it. He recently introduced H.R. 2479, which would force the FDA to let pharma share more info about its products online.