Massive layoffs, slowing revenue growth, a major blockbuster “patent cliff”, disappointing R & D productivity, never-ending product liability lawsuits, allegations of illegal marketing and sales activities that lead to billion dollar fines and settlements, and the list goes on.
“How did we come to this, and is there hope that these companies will behave differently moving forward. That is the subject and basis for the book Pharmaplasia written by Michael Wokasch*. The book does a very good job of describing the history of the pharma industry, with emphasis on the past 20 years and the conditions under which the companies chose to pursue marketing tactics with such questionable ethics.”
Ralph Casale The Motley Fool CAPS blog
(*) Mike Wokasch is an 30 year pharmaceutical industry veteran. A long time interest in medicine and a Pharmacy degree (University of Minnesota) provided Mr. Wokasch with a solid scientific foundation for marketing and sales management (e.g. Merck, Abbott, and Chiron), senior product manager launch of the antibiotic Cipro® in the US, and senior management positions (e.g. Covance and Vertex). Mike has worked in or managed most functional areas of a pharmaceutical company, providing him with real world working knowledge from which he writes and speaks.