Bridging the “Pharma-Startup Gap”: How Can Pharma Companies and Digital-Health Startups Work Effectively to Bring Products to Market Faster
December 29, 2022
In this episode of Pharma Launch Secrets, Bozidar is joined by Naomi Fried, CEO, and Founder of PharmStars. If you’re a pharma or startup executive and wondering about how to bridge the pharma-startup gap, this episode could be just what you need to hear. Tune in to this episode of Pharma Launch Secrets, a Podcast by Evermed.
- What is the Pharma-Startup Gap and how to bridge it?
- What are the three biggest mistakes that digital health startups make when approaching pharma companies?
- Are digital health founders coming from the pharma industry, or are they newcomers?
- What is the number one challenge that pharma faces when engaging with startups?
- Can startups strike a seven-figure deal with pharma in seven months?
To answer these questions, Bozidar is joined by Naomi Fried, CEO and Founder of PharmStars.
- [ 01:37 ] - Naomi started PharmStars to bridge the pharma-startup gap, thus bringing startups and pharma together in a constructive way so they can become partners, take advantage of the innovation, and work together
- [ 04:12 ] - Some gaps between pharma and startups include large companies executing a proven business model, trying to prove a business model, getting to product-market fit, and differences between business models. Pharma and startups have different approaches to innovation and taking risks
- [ 06:48 ] - There's a lot of opportunity for digital health solutions and innovations to support pharma. Digital solutions can bring more value to patients by offering a drug plus a digital solution, an app, a diagnostic, or a digital therapeutic to address side effects or enhance the impact of the drug. Digital health startups can also help pharma companies with the drug discovery and development process
- [ 10:16 ] - Some of the greatest mistakes digital health startups make when engaging with pharma companies are not articulating their pharma value proposition and not understanding how pharma is organized and the pharma language
- [ 19:16 ] - When engaging with startups, some mistakes pharma companies make are not having clarity of purpose, appreciation for the speed with which startups need to move, and understanding the resource and staff limits startups have
If you want to learn more about leading a successful pharma marketing campaign in the US, tune in to this episode of Pharma Launch Secrets, a Podcast by Evermed.
And connect with Naomi here:
About The Show:
“Pharma Launch Secrets” is a podcast by Evermed and hosted by Bozidar Jovicevic, where we host direct, actionable conversations with world-leading pharma launch experts and help you stay up-to-date with the latest trends and strategies to help you launch your product successfully.
Previous guests include: Trevor Landry of Syneos Health, Indraneel Mukherjee of ZS Associates, Meg Heim of Heim Global Consulting, Scott Snyder of EVERSANA, Andrew Willmer of Symbiotix, Bharti Rai of CVS, Brendan Gallagher of Publicis Health and Matthew Goodman of LUCENT Biopharma.
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