Perspective on Social Media in Pharma

There has been no shortage of headlines in recent years about the impact social media will have on the pharma landscape. While traditionally a change-averse industry, pharma companies are finally embracing social media... with half-open arms. The benefits of expanding your digital presence - reaching a broader range of customers, establishing a feedback loop, enhancing credibility - are just the tip of the iceberg when we examine the monumental business opportunity for pharma presented by social media.

There are two compelling reasons that stick out in my mind for pharma companies to embrace social media as an enduring strategy:

(1) To Build the Brand

Pharma can use some help here. Negative press leads to distrust, and I'm not particularly aware of any pharma or biotech that is immune from this. Pharma frequently comes under attack with highly publicized issues that affect consumer trust. Pharma has a responsibility to various industry stakeholders, not to mention its shareholders. Building your brand online will build trust with stakeholders who are both active and passive "listeners" of online content - including patients, who are perhaps more likely to enroll in your clinical trials. Key takeaway: transparency with stakeholders, both in formal communications and in social media outlets (where regulatory constraints do not exist).

(2) To Improve Patient Safety

The amount of information on the web about this opportunity is tremendous - here I will mention a couple of broad opportunities that I find most interesting.

First, improve on the reach and speed of information to patients. Traditional methods of educating patients on treatment and risks have clearly been ineffective - the New England Healthcare Institute estimated last year that anywhere from one-third to one-half of patients do not take their medications as their doctors intend them to. This is partly due to economic factors, but a lack of basic knowledge about treatment is also a factor. You might hypothesize that those patients who turn a deaf ear during doctor visits could be, on average, more likely to seek out information from sources on the web (ex: Internet-savvy young adults). Likewise, growing numbers of patients are feeling more empowered to take matters into their own hands, performing online research and answering their own questions before making a call to their doctor.

Patients who correctly adhere to medical guidance are more likely to reap the intended benefits of the medication and are less likely to become hospitalized - contributing to decreased cost of healthcare. Don't allow Google to send one of your consumers to an informal forum convincing them that it's okay to double their dosage because Patient27 said they experienced positive benefits from doing so. Take control of the information on your products by creating a credible forum and feedback loop closely monitored by your safety organization.

Speaking of feedback loops, a second opportunity for improved patient safety through social media is an increase in the volume and speed of information from patients to your safety organization. Product safety profiles, particularly of those new to the market, are continuously evolving. The potential in social media to improve safety profiles by acting as a new source for adverse events might not be as great as was once projected (studies have shown the number of adverse events found online that meet the required criteria are not coming in high numbers), but pharma companies should start becoming adept at collecting safety-related information from non-traditional sources. If not a formal source of AEs/cases, it is at the very least an indicator of potential signals or real-world usage patterns that provide information not easily discovered during the clinical trials process.
Perhaps the greatest future sources of feedback are patient social networks: niche online networks connecting patients with others who can relate to their condition. Patient social networks have spread all over the web and have contributed to the phenomenon of patient health issues "going public." For an example, visit www.patientslikeme.com. This network consists of a variety of "communities" organized around disease, allowing patient users to share health data, find patients like them, and learn from others' experiences.

George Botsakos, Associate Partner in IBM's Life Sciences practice, speaks clearly about the vision and challenges behind social media in drug safety: “Imagine a world where social media is effectively used to drive increased reporting of adverse events and allow independent, comprehensive, and reliable management of an individual's health. Well that may be a long time coming as the industry remains in waiting mode. Even companies that recognize the potential value of this insight are paralyzed by the negative implications associated with 'listening' to unregulated information. Until companies receive clear guidance in these areas, the risk of applying social media to patient safety will always be perceived to outweigh the rewards.”