March / April 2019 by Healthcare Sales and Marketing Magazine

™ MARCH/APRIL 2019

the publication for healthcare sales & marketing leaders™

TOP 50 BIOTECH COMPANIES IN THIS ISSUE

BIOTECH COMPANIES

The 50 Top Biotech Companies Nonin’s Chief Commercial Officer: The Path to Sales Success Ipsen, Medac, Bio Products and Cardiovascular Systems Execs on the Sales Landscape UVision360 CEO Allison London Brown on Entrepreneurship in Healthcare Novo Nordisk Commercial Director on Sales Culture The 2019 Biotech Outlook Boston Scientific, Abbott and more: The Prix Galien MedTech Award Winners

FINDING EMOTIONS IN EVERY MOLECULE, CELL, PATHOGEN, AND ANTIBODY At AbelsonTaylor, we get emotional about science. For us, there’s real emotion buried in everything from molecules to K-M curves. So we get down to the cellular level to find emotion in the science that lets us tell a human story. One that HCPs will connect with. Because we’re not just inspired by science— we feel the data.

the publication for healthcare sales & marketing leaders™

TABLE OF CONTENTS Publisher’s Letter..............................................................................................................................................4 Editor’s Letter.....................................................................................................................................................5 Editorial Board....................................................................................................................................................7

ARTICLES Spotlight: Chris Holland, Nonin’s Chief Commercial Officer, on the Path to Sales Success..........................................................................................................................9 Roundtable: Ipsen, Medac, Bio Products and Cardiovascular Systems Execs on the Sales Landscape.................................................................................................................................. 15 UVision360 CEO Allison London Brown on Successful Entrepreneurship in Healthcare..............23 Top 50 Biotech Companies.......................................................................................................................... 27 2019 Biotech Outlook.................................................................................................................................... 33 Boston Scientific, Abbott and more: The Prix Galien MedTech Award Winners...................... 39 Industry Trends: By The Numbers............................................................................................................ 45 Great Minds: Novo Nordisk Commercial Director Frank Armenante on Sales Culture ......... 47 Motivideos: To Use In Your Meetings...................................................................................................... 51 Agency and Provider Directory.................................................................................................................. 57

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Publisher’s Letter

Biotech: The Craziest Sector Investopedia calls biotech “simultaneously one of the most exciting and one of the riskiest corners of the stock market.” As you can see from our Top 50 article, and from the Vantage 2019 preview in this issue, both points of view can be credibly argued.

CARI KRAFT

Nearly two thirds of the Top 50 experienced an increase. Revenues as a whole were up by 9%. The biotech industry remains one of the most volatile. That leaves a lot of room for both investor interest and investor anxiety, and why this area is on a rollercoaster ride.

It should come as no surprise that the top ten on our list comprise 73% of the revenue in the group, and continue to increase at a healthy rate. They are solid companies with good management. We also have to look at what’s attracting the most attention. Cell therapy, CAR-T therapies and Crispr gene editing are among the headliners. The FDA continues to be bullish on biotech. Its current attitude has been to fast-track promising therapies, which of course will bring investors to the table. While our Top 50 reaches only until the end of 2018, subsequent news requires mention. While the last quarter of 2018 saw predictions of a bear market in biotech, by January there was a renewed interest in the sector, led by the $74 billion mega-deal of Bristol-Myers Squibb (BMY) and Celgene, and the market is reporting other significant potential biotech mergers and acquisitions. And always, please keep the feedback coming. It all goes to making the magazine better for all of us.

Cari Kraft, Publisher CLICK HERE TO GET TOP 50 BIOTECH COMPANIES

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HS&M MARCH/APRIL 2019 | 4

Letter from the Editor

The Dangers of Misinformation A recent article in the Journal of the American Heart Association pointed out the difficulties—in this age of the information avalanche—of maintaining and improving trust in the healthcare professions. Here’s how it began: “Mrs. Jones, based on your risk factors for having a heart attack, I recommend that we start you on a statin.” “No, thank you, doctor, I’ve read too many scary things about those drugs on the internet. Plus, I worry that some in your profession make these recommendations for reasons NEIL GREENBERG of personal financial gain. I also found that online.” How did we get here? The article cites numerous influences. First, of course, is the inability of the layman to sort out true from false claims, science professionals from rumor-mongers and hype artists. Also, people tend to believe “authorities” merely because of their visibility—actors, activists, politicians. There’s also the contrast between those who defiantly and unconscionably stand behind their claims, and scientists, who often are more measured in their statements because that’s the nature of science. We are always learning something new, and it’s rare that we have a 100% degree of certainty about any medication or device. Also, one must be honest about the range of studies, side effects and doubts—a consideration that does not restrain the activists who claim that vaccines cause autism. The article is particularly concerned about cardiovascular disease, the No. 1 killer of both men and women around the world. We have made immense progress with medicines, devices, and an understanding of lifestyle effects on heart disease. Yet trust in healthcare professionals has declined. Some of this comes from the few bad actors in our profession who appear in the headlines. The public doesn’t know about the vast majority who act responsibly. Where the authors come out is recommending that the media, particularly monitors of our social media platforms, take more responsibility for not making false equivalencies between proven scientific data and wild claims. In this age, fake “information” travels around the world before the truth can push “Send.” They say “It is no longer acceptable to hide behind the cloak of ‘platform.’Lives are at stake.” Agreed. But I think the responsibility also lies with us. We must make a more concerted effort to regain trust, and to show how important it is that people understand the integrity inherent in our industry. We try to keep up with all this, and bring you the people who have a grasp on change. We hope that it will be informative, and assist you in furthering the work you do every day. Let us know what topics will be most useful to you!

Neil Greenberg, Editor To become an HS&M contributing author or provide feedback, please email me at ngreenberg@hsandm.com.

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THERE ARE SOME THINGS PEOPLE JUST WON’T TELL YOU BUT THEY’LL TELL US IN CONFIDENCE. AND WE’LL TELL YOU. There are a lot of opinions people never offer you about your company. What the pain is. What you could be doing better. What they think of your competition. How to talk to them effectively. Big corporations get these answers through expensive research. Small to medium-sized companies don’t have that luxury. That’s why we created the Private Process . It’s a quick, cost-effective way of compiling information that people will offer us in complete confidence. Then we assess the results and give you the insight you need to adapt your sales and marketing messages accordingly. ©

For details on how the Private Process works, and the kinds of answers you can get, contact us now at ngreenberg@hsandm.com.

™

Editorial Board

the publication for healthcare sales & marketing leaders™

Chris Bergstrom Publisher Cari Kraft Editor Neil Greenberg Contributing Editor Jill Donahue Creative Director Hedy Sirico Digital News Rick Cataldo Digital News Chris Manning Associate Publisher Natalie Newcamp EDITORIAL BOARD: Kristen Sharron-Albright Head of Marketing at Noven Pharmaceuticals Chris Bergstrom Associate Director, Digital Health Expert at Boston Consulting Group Sebastian “Sebby” Borriello Vice President, Chief Commercial Officer SK Life Science Lewis Chapman Vice President, Global Commercial Operations AllCells, LLC Maria Finlay, MBA Associate Director of Oncology Marketing, Teva Oncology Nick Gurreri Vice President New Products at Alexion Pharmaceuticals, Inc. Bob Roda VP and General Manager at BD © 2019 CL Media Inc., Philadelphia, PA CL Media is not responsible for any unsolicited contributions of any type. Unless otherwise agreed in writing, CL Media retains all rights on material published in HS&M for a period of one year after publication and reprint rights after that period expires. Email ckraft@hsandm.com.

To advertise in HS&M, please contact Natalie Newcamp at nnewcamp@hsandm.com

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Associate Director, Digital Health Expert at Boston Consulting Group Chris brings almost two decades of commercial expertise as an entrepreneurial executive at large medical device and high-growth digital health companies, and he provides “on the ground” advice for implementing digital health solutions. He currently serves as the expert on digital health at The Boston Consulting Group (BCG). Before joining BCG, Chris was the chief commercial officer (CCO) at WellDoc, a pioneer in digital health. He also held progressive roles at P&G, Roche, and Becton Dickinson. Chris was a senior advisor to several digital health innovators, including MyOwnMed, LiftOff Health, HelpAround, Heart Beam, iSageRx, and Alere Home Monitoring. He also advised the Leona Helmsley Charitable Trust and the Saatchi & Saatchi Wellness Board. Chris holds two digital health patents and has won multiple awards.. Chris holds a Bachelor of Science degree from the Kelley School of Business at Indiana University and earned his MBA from Columbia University.

Sebastian “Sebby” Borriello Vice President, Chief Commercial Officer SK Life Science Sebby is currently service as the Vice President, Chief Commercial Officer at SK Life Science. Sebby’s career has included executive sales and marketing positions at Cempra, Mentor Worldwide LLC, Johnson & Johnson Healthcare Systems Inc., Ethicon, Inc. and OrthoMcNeil Pharmaceuticals, Inc. Sebby received his B.A. in Public Administration from St. John’s University in ‘81, and received his M.S. in Organizational Dynamics from the University of Pennsylvania in 2001.

Maria Finlay, MBA Associate Director of Oncology Marketing, Teva Oncology Maria has over 20 years of commercial marketing, sales leadership and operations experience. She has led multiple sales, women’s leadership, and cross-functional teams at Johnson and Johnson, AstraZeneca, and Teva Oncology. Maria has experience collaborating to launch and grow small and large molecule products across seven different specialty therapeutic areas.

Bob Roda

Editorial Board

President and CEO, Menarini Silicon Biosystems Bob Roda is a senior commercial executive with extensive experience in delivering business growth and profit in the medtech and diagnostics sectors of healthcare. He currently serves as the President and CEO of Menarini Silicon Biosystems, where he is responsible for driving the commercialization of novel cancer diagnostics. Previously, Bob held a variety of roles of increasing commercial responsibility at Becton Dickinson. Most recently, he was VP and General Manager of the MPS business unit as well as leading the commercial integration of the CareFusion acquisition. Bob also had a successful career within the MD&D sector at Johnson & Johnson. His diverse background includes positions in business development and senior leadership roles in sales and marketing at Johnson & Johnson Medical, Inc., Ethicon, Inc. and Ortho-Clinical Diagnostics. While at J&J, Bob also served as the executive sponsor of the Commercial Leadership Development Program as well as the chair of the VP Marketing Council for all of MD&D. Bob is a highly respected, successful global leader with proven abilities in diverse disciplines. He holds a Bachelor of Arts degree from The College of Business Administration at the University of Rhode Island.

Lewis Chapman Vice President, Global Commercial Operations, AllCells, LLC Lewis Chapman is currently the Vice President, Global Operations at AllCells, LLC.Â He has spent over thirty years in health care management. He served as VP of Global Strategic Marketing at BioMarin Pharmaceutical from 2007 to 2012, where he was responsible for strategic marketing and product portfolio analyses, and implemented medical education, brand enhancement and sales support programs on a worldwide basis. He oversaw the global launch of Kuvan, which in the U.S. was 112% to budget in 2008, the first year on the market.Â Previously, he worked with Alpha Inntech Corporation as Vice President Global Sales and Marketing, where global sales grew 26% in 2004 and 22% in 2005 under his leadership. Lewis started his career with Eli Lilly & Company, with roles at Syntex and Genentech, where he was responsible for the global commercial launch of Activase (t-PA), the largest biopharm product launch in the history of the industry up to that time (first year sales $187 million).

Nick Gurreri Vice President New Products, Alexion Pharmaceuticals, Inc. Nick Gurreri is a business leader and General Manager with over 25 years of consistently achievinghigh performance and profitability through strong leadership and cohesive team building in the biopharmaceutical and medical device industries. Nick has held executive positions at Medgenics, Insmed, Pfizer, Pharmacia and Bristol-Myers Squibb. Nick received a BS in Mechanical Engineeringfrom the University of Delaware, and also acquired a Master of Science in Information Assurance at Carnegie Mellon University.

Kristen Sharron-Albright Head of Marketing, Noven Pharmaceuticals Kristen Sharron-Albright, the current Head of Marketing at Noven Pharmaceuticals, was until recently VP Sales and Marketing, Anti-Infective Marketing and Institutional Sales Specialty Care Business Unit at Pfizer. She is an experienced business leader with 20 years of experience in the pharmaceutical and biotechnology industries. She has a strong track record of delivering results in highly competitive and complex markets. Starting her career in sales at Eli Lilly, she then held positions of increasing responsibility at Lilly, Neurogen, and Pfizer, where she was responsible for sales and marketing in a franchise business model. In her spare time she volunteers, serves on the leadership committee for her church, and enjoys hiking.

HS&M MARCH/APRIL 2019 | 8

EXECUTIVE SPOTLIGHT

Nonin Chief Commercial Officer Takes the Long View to Success

Chris Holland knows what a growing enterprise looks like, and how it happens. His career path is the very definition of vision.

Chris Holland Chief Commercial Officer, Nonin

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EXECUTIVE SPOTLIGHT

As Nonin’s VP Marketing, he drove cerebral monitoring to its position as #1 growth driver and top 5 revenue producer, expanding it into new geographies and clinical uses (neonatal/pediatric, resuscitation). He also developed relationships with tier 1 monitoring providers to create further opportunities. Moving on to VP Business Development, Chris created a new area focused on strategic accounts and global business development. He and his team created a large multimillion dollar business development sales funnel, closing some of the largest deals in Nonin’s history. He went on to close an international distribution partnership for the US, EU, and Japan, enabling a double digit product line growth, and drove other initiatives like grant development and technology acquisition and licensing. For the last three years, Chris has been Nonin’s Chief Commercial Officer, driving comprehensive focus across global sales, marketing, business development, corporate communication, customer service, and clinical support. He has been able to achieve three straight years of growth at 2x market and continued gross margin improvement. Back in the 90s he was a consultant to financial giants like PricewaterhouseCoopers and Accenture. He moved on to tech leader Cisco Systems, where he quickly rose through the ranks to become Senior Manager of the Project Management Office and Senior Manager of Business Operations, overseeing an $87M budget.

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The experience he gained in strategic planning, operational reviews, program and project management, talent and performance management, forecasting, contracting, training, employee events and communications prepared him for his most recent endeavors at Nonin Medical, a manufacturer of medical, consumer and OEM devices, including cerebral and pulse oximetry measurements. Nonin sells globally to hospitals, homes, government/military and emergency medicine. THE FAS3H ASSESSMENT STRATEGY When Chris took on the commercial organization, he had to determine a way to drive consistent above market growth. Although they had a great track record over 30 years, and had delivered new products, Nonin wanted to move more aggressively. Nonin was doing all the standard things in trade show participation, feature/benefit marketing, while trying to appeal to a very wide array of markets. What Chris needed to know was what wasn’t working. He took a dive into the attitudes of the people on the teams and their leadership. Did they believe in the company and its potential? What were their skills? What did the sales data and financials say? Were they spending money where it would do the most good? What were the barriers to vigorous growth? Chris brought in a sales and marketing assessment firm, CEB (now part of Gartner) to do a competency assessment. The result was

a formula Chris developed out of that exercise, one he called FAS3H, homing in on: • Focus • Attitude • Skills, Sales, Spend • History (pro/con) Chris’s assessment was that Nonin needed a stronger management process and clearer expectations. Focus would pull everyone together and develop transparency and trust. Attitude would create an atmosphere of everyone rowing in the same direction and supporting each other. They would have more candid conversations, saying the tough things that might lead to significant change. To track progress, there would be monthly and quarterly operational planning and reviews.

“What we needed was to rebalance the enterprise,” Chris says. “That would provide the needed lift.” What does rebalancing look like? “We had to ask ourselves where growth came from, what we needed to do differently, what areas were demanding the most focus.” Ultimately, it led them to do fewer things, but do them better.

“For example, there were a lot of growth prospects in the hospital area. We had to put more strategy and energy into the hospital, which drew us away from some other areas. The tough part was figuring out where to say ‘No.’” Another wake-up call was recognizing where the big geographic opportunities lay. Japan and Germany presented the best. Were their activities aligned with those international prospects? Also, where was marketing focused on generating awareness and interest? He challenged everyone to answer the question “Where is your #1 focus for everyone in order to grow the business?” This seems like an obvious target, but often it gets lost in the process of daily business and doing what you’ve always done. 120 DAYS OUT Within the first quarter, specific goals and tactics were taking shape. • Nonin’s incentive and commission plans lacked focus on the core portfolio and a strategic overlay: these had to be restructured • They sharpened their focus on top growth prospects • Key markets—e.g. EMS • Key geographies—e.g., Japan, Germany • Actions—e.g., leads and awareness activities such as webinars What kinds of skills and leadership did they need to do this? “We didn’t have up-to-date digital and social media competencies,” says

Chris. “Partners were questioning our lack of presence and what it meant. Also, we needed to re-ignite the team with respect to their focus and skills.” Structural changes were made. Chris created market segment managers who had responsibility for driving success in key markets, letting product management focus on the individual product lines. Separating assignments created more precise market strategy in different areas with regard to marketing and new products. Chris also initiated a sales operations team to focus on developing their sales data, implementing a CRM, and sales training. This drove a sharp commercial focus. There were also new product releases, but with an additional goal: finding ways to present Nonin’s entire solution set vs. individual products. They had a well-developed and extensive sales channel and good distribution, which they believed was a strategic lever. They got agreement to search for complementary capabilities and went outside to add two new products to their portfolio. Chris also got more intelligence out of data analysis. “How many customers do we have? Who is managing them? How is the sales team focused?” He found their sales team was underweight for the number of customers—about 100—that each sales person had to manage. “CEB/Gartner data tells us sales naturally focuses on keeping existing business, which can limit them from growing new business,” Chris says.

1 YEAR OUT At the end of the first year, the results of the above initiatives were beginning to become evident. • Skills and leadership Nonin’s new digital and social media competency enabled real awareness and engagement building. First year efforts resulted in five thousand new social media followers, a number which again doubled the following year. The strategic incentives they put in place got the leadership team focused on making progress on the long-term initiatives. “Not everyone engaged, of course, but we got about 75% subscription. In subsequent years we were able to tie specific, and very impactful, business revenue growth back to balancing focus on the longer-term strategic initiatives.” • Structure/Focus for growth • They split market segment and product management areas to allow more external marketing focus. This enabled focus on lead generation and customer engagement activities. For example, launching a series of webinars, the first of which far exceeded expectations, with over 1,100 global registrants. • They created sales operations for sales process & efficiency. “For example, sales forecasting accuracy reached over 95% and we were able to roll out PowerBI sales reporting down to the rep level, enabling them to more easily track their progress to goal.” HS&M MARCH/APRIL 2019 | 12

EXECUTIVE SPOTLIGHT

• Portfolio expansion Chris’ team identified complementary products to target distributing through Nonin’s extensive sales channels, giving focus to business development to secure these contracts 2 YEARS OUT • Scale—Sales reps were carrying books of business too large to handle properly, and so they were spending time on account retention versus new business growth. “We justified adding scale to the underweight sales areas, such as E-Health, which again we were able to correlate to a measureable increase in business.” • Re-igniting the Brand—Marketing used voice-of-customer to get feedback on what customers valued on the brand, and iteratively tested messages back with customers to home in on a focused value proposition. They paired this with 13 | HS&M MARCH/APRIL 2019

a new collateral architecture aligning to the sales flow, and allowed Nonin to go from maintaining over 400 pieces down to a core set of <15. “To draw attention to the ‘new’ Nonin, we freshened the logo and brought the website in line with the branding, making it more customer-focused. Not only did removing the collateral overhead decrease the costs in maintaining all of that and give us new agility, it also resulted in a 20%+ increase in web traffic and (combined with the digital focus) a 7x increase in lead page traffic.” The customer was brought into the equation. How was Nonin perceived? What were their strengths? What was their competitive posture? How about the image of the company? Marketing worked with customers to develop a specific value proposition that resonated. They tested it, talked to key focus demographics, and asked if the

website spoke to what they wanted to hear. The new site went live last year. Nonin got the organization centered on a single value proposition to frame all the marketing and sales messages. Nonin also adopted a new sales methodology, based on a framework using the learnings from CEB. They structured it as a way to create a new type of customer conversation. The essence was “Teach, Tailor, Take Control.” Chris says this means “Teach customers by sharing new insights that will help them improve their business, tailor the conversation to resonate with that customer specifically, and take control of the conversation, challenging them to think differently. This gives the sales people a common language with which to talk to customers.” After an initial pilot test resonated, they rolled the program out to rest of the organization.

3 YEARS OUT • Nonin created a new account focus—hunter roles—with incentives targeted solely to new customer acquisition. “What we’re doing is trying to unlock growth,” says Chris. “We were layering in best practices over time, and created a hunter role solely focused on new customer acquisitions.” OEM customers are very valuable, so there was a new energy around acquiring new OEMs. This enabled focus on the longer sales-cycle of OEM and the structure incentivized progress toward goal, not just deal completion which could be more than a year out. “We leveraged practices and data from CEB/ Gartner and assessed what milestones/activities historically led to a successful deal. These became markers for the incentives. It was remarkably successful. We easily tripled the number of deals and saw deal size increase. An unanticipated benefit was stronger organic growth as well, due to increased attention on existing customers. It makes sense in retrospect, but none of us predicted it.” • Added a strategic account management role, enabling focus on larger customers and deeper account understanding. Recognizing that larger organizations have many divisions, which can have different needs, they developed a strategy around servicing them differently. Nonin transitioned one of their more senior people into a strategy growth account manager.

In the first year, organic growth increased in these accounts and a significant number of new business opportunities was uncovered. FAS3H PAYS OFF SHORT— AND LONG-TERM It was a complex and companywide restructuring, involving sales, marketing, communications and more, to achieve a skilled, resultsoriented, collaborative organization.

One key improvement was increased employee engagement. Chris cites this quote from a manager: “We’ve come together as a team and created an environment where we enjoy coming together, getting each other’s perspectives, and creating our plans. Any conflict is constructive. Great things are happening here from our collaboration and we can see the market respond.”

This was a multi-year commercial strategy, with an organizational development roadmap, and key performance indicators. “Nonin pulse oximeters, regional oximeters, capnographs, sensors, and software deliver dependable performance day after day, even in challenging environments,” says Chris. “Our technologies are clinically proven to deliver consistent measurements for a broad range of patients and conditions. But all that didn’t make enough of a difference if we weren’t carving out the markets and geographies that were most promising, giving more attention to our top customers, and growing the overall customer base.” Nonin Medical was founded in 1986 by Phil Isaacson and a team of three engineers. Their goal was to make noninvasive healthcare measuring devices more reliable and affordable. That was the initial basis of their success. Today, Nonin is a global leader in medical monitoring with partners and customers in more than 125 countries, and Chris Holland’s leadership is helping them reach the next level. •

HS&M MARCH/APRIL 2019 | 14

ROUNDTABLE

The Sales Landscape as Seen by Leaders from Ipsen, Medac, Bio Products Laboratory and Cardiovascular Systems, Inc. As our mission is to primarily serve the sales and marketing functions in healthcare, we regularly try to cover the opportunities, challenges and other issues that affect each. This month we have recruited a panel of long-term executives with deep experience in the realm of sales. In the last few years, the industry has suffered from various shifting tides: loss of product differentiation, adapting to changing technology habits, responding to the influence of massive information overload, strategizing allocation of human resources, and more. The people we reached out to have been through all of that, and have had to apply their own expertise to the hurdles before them. Hereâ&#x20AC;&#x2122;s what they had to say.

Our panel of experts: BRIAN PETERS VP Sales and Marketing Medac Pharma USA

BOB ROSSILLI President US Commercial Operations Bio Products Laboratory

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PAUL MURASKO Sr. Director of Digital Customer Interaction Ipsen

RYAN BLASKO Regional Sales Manager Cardiovascular Systems, Inc.

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ROUNDTABLE How much change is happening today in the realm of the sales forces in healthcare?

or trend, nearly all physician are online weekly or more often for professional reasons.

BOB ROSSILLI: Change has been taking place at a rapid pace in healthcare over the last couple of decades and has not slowed down in recent years. Some of the change has been needed and predictable while other elements have been hard to predict. When you think about how change impacts sales forces you should first focus on your organization (and product) strategy. Your sales force should always be aligned to your overarching strategy. If your strategy needs to change to stay current to changes happening in the market place then your sales force should change to align to the new strategy. If your strategy is current/relevant and hasn’t changed, then you will only need to make small tweaks in your sales force to enhance execution of the strategy. To me it always comes back to making sure you have a tight alignment of your sales force to your strategy.

RYAN BLASKO: Change is rampant in healthcare sales currently. The addition of new technology in medical devices will continue along with the disruptive and innovative spaces of surgical robotics, digital health, predictive analytics, VR/AR and big data in healthcare.

PAUL MURASKO: As we all know and have seen, rep access has been declining and continues to do so. I expect to see this trend continue. Despite this, the sales force remains a foundational component of the pharma-HCP relationship. Even though doctors are spending less time with their reps, that does not mean physicians are not interested in the information the reps have to offer. They are. However many are just choosing to get the information differently. By differently I mean digitally since they can do it on their terms, in ways that are more accommodating for their very busy schedule. The “internet-savvy” physician is no longer an emerging group 17 | HS&M MARCH/APRIL 2019

What specifically are the challenges for those in medical device? RYAN BLASKO: Access remains an enormous challenge in the med device space. Many reps need to belong to a variety of national credentialing companies just to step foot into a hospital. These come with expensive membership fees and the hassle of staying up-to-date or potentially being banned from the hospital. Another challenge is the commoditization of the industry in general. As companies like Amazon move into healthcare, the need for personal representation for routine procedures goes away. Finding a way to continue to bring personal value and service to each account will remain paramount in order to overcome these challenges. What specifically are the challenges for those in pharma and bio? BRIAN PETERS: In addition to decreasing access to health care providers, the changing reimbursement models and increasing payer, as well as hospital and physician networks influence on physician prescribing habits are daily challenges for sales forces across our industry. PAUL MURASKO: With doctors

spending an average of 84 plus hours a year on reading digital marketing material and many drug websites now including a separate page just to educate physicians, digital must become a complimentary tool for our reps. This is slowly happening but needs to be accelerated. I believe another challenge lies in the need for better alignment between sales and digital marketing or NPP as it is called in pharma. They both share a common goal to build long-term relationships with HCPs. The misalignment is the sales force is very focused on script volume and meeting their numbers, while digital marketers are hyper focused on physician engagement. Sales and marketing teams need to get on the same page with regards to digital pull-through. By doing so you will drive scripts through an enriched customer experience that enhances physician engagement and maximizing the company’s investment BOB ROSSILLI: Payer challenges continue to bubble to the top of the list as well as the ability to bring clinically differentiated products to market. That is why the drug development process and clinical trial design of new medicines are critically important and can help generate strong clinical evidence vs. current standards of care. What do we have to do to improve access? PAUL MURASKO: Beside the stricter access policies being implemented and the limited amount of physician time to see reps, the trend of using online resources via multiple channels is increasing and going to increase significantly in the future. I believe there are

several ways to help improve this. Let’s focus on one – invest and use technology efficiently, effectively and appropriately. Tablets can improve the in-person detail experience; however, reps must use them consistently, effectively and the content needs to continually reflect the latest updates. And in addition, remote rep communication is underutilized to share info between meetings and with those hard to see or no see physicians. A recent study showed that despite industry enthusiasm for rep-triggered email software like Veeva, only 12% of physicians said they had emailed with their rep in the past six months. More than a third (36%) said they wanted to. Similarly, just 9% of physicians are engaged with remote detailing programs, such as a self-detailing app, click to chat, or on-line live discussion with their rep while 35% are interested in doing so. BOB ROSSILLI: I have not heard any new or innovative ways to improve rep access, however I do feel following some “old school” rules can help. One: Make sure all your reps are well trained “expert” sales reps that know their products inside and out. They need to have deeper product and therapeutic area knowledge than their customers/ accounts. That won’t happen overnight, but we do need to appropriately challenge our sales teams to get that point and be EXPERTS! I call that having a deep therapeutic expertise. Two: Reps should strive to appropriately learn the customers’ practice goals, objectives and obstacles/pain points. Asking questions, showing you care about their challenges and learning as much

DECLINING ACCESS

COMMODITIZATION

SILOIZATION

Rx VOLUME VS. CUSTOMER ENGAGEMENT

as one can about the practice, the physician/customer and their pain points can help build credibility and trust. I call this superior business/practice acumen. Three: Appropriately tailor your product or service to the customers and their specific need(s) while selling with integrity and following the rules that govern our industry. I call this selling/account mastery. Again, not innovative. However, challenging our teams to be experts in those three areas can, over time, improve and continue to earn access. RYAN BLASKO: In the past an industry representative could attend a case with an invitation from the department manager or physician performing the procedure. Just because your device is being used on a patient isn’t reason enough any longer. You must be cleared by the hospital’s internal credentialing system or be a member in good standing with many of the national credentialing companies. Overregulation has created inefficiency and made it difficult for many physicians to partner with industry representatives whose expertise

they value in a procedure. BRIAN PETERS: Access to health care providers continues to decrease, although our primary focus is rheumatology where we still have fairly decent access to our customers. What’s more challenging is the trend we’re seeing with limited time availability. I continue to be in the field with our representatives and see HCPs give us one minute or less in the hallway or five minutes or less at a lunch or a breakfast. It’s imperative that we optimize the time we have with our customers by creating value during the conversations. How has the regulatory landscape changed in both the U.S. and abroad? BRIAN PETERS: I think risktaking has gone down due to the regulatory environment we currently work in. RYAN BLASKO: It’s changing as we speak. Popular documentaries like “The Bleeding Edge” on Netflix have sparked a call to action against current processes and put organizations like the FDA and AdvaMed on notice. According to Institute of Medicine, the 510(k) HS&M MARCH/APRIL 2019 | 18

ROUNDTABLE process does not include enough assessment of devices after they are put on the market. The panel said it found “substantial problems” in how devices are examined after their approved by FDA. The panel concluded that “the 510(k) process generally is not intended to evaluate the safety and effectiveness of medical devices and, furthermore, cannot be transformed into a premarket evaluation of safety and effectiveness.” It added that “FDA’s finite resources would be better invested in developing an integrated premarket and post-market regulatory framework that provides a reasonable assurance of safety and effectiveness throughout the device life cycle.” This may drive more studies to be conducted abroad, where it’s sometimes viewed as less difficult to navigate the regulatory process. What kind of people are you looking for to populate your sales force? Do they have to have healthcare background? BOB ROSSILLI: I look for ALLSTARS!! In specialty pharma it is important for me to hire people who have consistently demonstrated success over time (top 25%), have superior selling skills and operate with integrity. In specialty pharma, I do tend to look for sales reps with a healthcare background and I do feel it is important to hire people who LOVE selling, the selling process and have a work ethic second to none. RYAN BLASKO: The hiring profile has definitely changed. Many med device reps are leaving the space for healthcare software sales. Companies like Vocera, Dell EMC and many others are now filled with former med device reps. 19 | HS&M MARCH/APRIL 2019

With this new dynamic, many sales leaders are having to hire outside of the traditional requirements. No, they do not have to have a healthcare background at all. Strong business-to-business experience from companies like Cintas, ADP, Xerox, Enterprise, Black & Decker Dewalt and Gallo Wines has proven to help with a successful transition into the healthcare space. At the end of the day the kind of people I look for exhibit a customer-first, servant leadership attitude. It’s all about effort. If people are willing to give an “A” effort they will usually be successful with the proper leadership, guidance and autonomy. BRIAN PETERS: Our hiring profile has evolved since we started the company 5+ years ago. Our current focus is finding candidates with a fair amount of pharmaceutical sales experience, with category experience not a necessity but a plus. We tend to look for people with good general business acumen as well as great selling skills, since they have to call on multiple disciplines and make themselves relevant to the entire office, not just the prescriber. What kind of training do you need to provide that’s different than it was a few years ago? RYAN BLASKO: Many companies are investing in sales training models that focus on how the customer wants to be managed. Less about the company selling the product and more about the value of the partnership. Think risk-sharing models and lifetime value of patients being explored by ACO’s. Companies are spending big money to train on “Challenger Selling” or work with major consulting groups to design special-

ized training. In the past, relationship sales were enough. Not any longer, especially when relationships won’t get you in the door to many institutions now that access is being denied unless you are on a GPO contract as a “preferred vendor.” PAUL MURASKO: The traditional pharma sales model and thus the training it currently comprises is far from dead, it just needs some revamping for the modern age. I would suggest investing more time and resources into all things digital. Reps need to be educated, and better training in understanding and appreciating the NPP tactics and tools that are being used with their HCPs. BOB ROSSILLI: Training on the business of healthcare, customer insights and account management has bubbled to the top. How are you breaking down silos between sales and marketing – and other divisions as well? BRIAN PETERS: We are big proponents of cross-functional teams, utilizing the collective expertise of the sales force, sales management, managed markets, trade and IT. For example, during the marketing planning process, each discipline has a seat at the table and ultimately contributes to a plan that is well-positioned for success because of the synergies created during the planning process. PAUL MURASKO: We have been very focused on ensuring the reps feel comfortable and do not feel the inside sales force or the digital channels like the HCP portal are their competition. We are not trying to replace them. We are complementing their efforts and supporting them. I like to say it a great example of 1+1 does equal 3.

Moving Forward BOB ROSSILLI: Build a culture of teamwork and collaboration within your organization while aligning the broader team to the strategy, the execution of strategy and the measurement of the strategy. Signs of a healthy organization all point to how the organization aligns around the strategy and execution of it. The Star Model can help build organizational alignment and break down silos. The Star Model begins with a clearly defined STRATEGY and stresses alignment of STRUCTURE, PROCESS, PEOPLE and REWARDS/MEASUREMENTS back to the strategy. They call it the Star model because all elements are interdependent.

RYAN BLASKO: Where I have had the most success is getting teams to realize how we all win (sales, marketing and the customer) when we combine our resources and collaborate. Think case studies that promote the physician, hospital system, vendor and most importantly a patient success story. It should always be about the patient, or what’s the point? Where do you think we’re headed in the next five years in the way you will structure your sales strategy? PAUL MURASKO: The growth in nontraditional field sales teams will continue to grow. In addition to the traditional role for the field sales reps, there will be more and

MORE INFORMED ACTION

BETTER POC MONITORING AND CLINICAL DECISIONS

ACCELERATED ABILITY TO LEARN

more blended teams that combine customer service, clinical nurse educators, and virtual or inside reps who reach HCPs through a combination of face to-face and digital channels depending on HCP preferences and geographically situations. BOB ROSSILLI: Over the next five years we must stay current with the challenges and opportunities our customers face and modify our approach as our overarching strategy changes. We must challenge our teams to work smarter, size our teams appropriately and resist the urge to over-invest in certain areas, as resources can be hard to come by. We must also build a strong organizational culture that operates with integrity. The business of healthcare will not get any easier, however if you have a strong culture with great people—ALL-STARS—you can overcome any obstacle or challenge and deliver for patients and your organization. BRIAN PETERS: The key for sales representatives will be finding ways to utilize the advances in data and technology to their advantage, to leverage the interpersonal skills they bring to the table along with the tools they have available

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to them. Equally important will be our efforts on motivation and retention. RYAN BLASKO: Sales strategy is only as good as industry compensation. Sales compensation plans drive behavior, retention or turnover. In the next five years we are headed for a shift in how med device representatives are paid. The industry is being poached by software companies who compensate with higher salaries and larger commission upside. In order to compete, med device will need to continue to shift to a model that raises base salaries and offers higher commissions for performance over quota and lower commissions for below quota performance. Every consulting company out there that has worked with sales operations has recommended this strategy. It’s my plan to make it as easy as possible for customers to do business with me and my sales team. In a world of two clicks and things show up on our doorstep, we must deliver better service through strategic partnerships. •

HS&M MARCH/APRIL 2019 | 20

ROUNDTABLE

MEET OUR PANEL OF EXPERTS RYAN BLASKO Regional Sales Manager Cardiovascular Systems, Inc.

Early in his career, Ryan worked in executive leadership roles at Cintas and Boston Scientific, where he served as both Senior Manager of Global Training and Development and Regional Director, before moving on to become Director of Business Development at eVOLUTIONcr. After that, he held executive positions at Coleman Research, Diligence IT and Gerson Lehrman Group. He joined Cardiovascular Systems, Inc. in 2018 as Regional Sales Manager. He is an active member of the Alzheimerâ&#x20AC;&#x2122;s Association. blaskoryan@gmail.com

CARDIOVASCULAR SYSTEMS, INC. develops and commercializes innovative solutions for treating peripheral artery disease (PAD) and coronary artery disease (CAD). Its primary focus is helping physicians fight calcium, given the complications it presents for the millions who suffer from PAD and CAD.

PAUL MURASKO Sr. Director of Digital Customer Interaction Ipsen

Paul leads and builds the DCI capabilities of Ipsen to help the organization improve the effectiveness and efficiency of all digital interactions with healthcare professional and patient/caregiver. He was previously Sr. Director of Multi-Channel Marketing for Sunovion, and at Johnson & Johnson in the Medical Device and Diagnostics space. While Director of Digital Marketing for J&J, he lead the digital integration for $19.8 billion acquisition of 21 | HS&M MARCH/APRIL 2019

Synthes and was chairman of the Digital Acceleration team for the MD&D sector. An innovative healthcare marketing and sales leader, he is experienced in digital strategy, integration and activation, with a solid understanding of the digital ecosystem to drive business results, achieve efficiencies, and build a competitive advantage. Paul.Murasko@sunovion.com

IPSEN PHARMACEUTICALS is a dynamic and growing global biopharmaceutical leader focused on innovation and specialty care, with a focus on three core areas: oncology, neuroscience, and rare diseases.

BRIAN PETERS VP Sales and Marketing Medac Pharma USA

Back in the â&#x20AC;&#x2DC;90s, as Senior Director of Marketing for GD Searle, Brian helped nearly double Ambien sales, among many other accomplishments. He moved on to executive positions at Biovail and Saatchi and Saatchi Healthcare. At Gilead, he was Senior Director of Marketing, and held the same position later at Accera. After stints at MedThink and Chiesi USA, Brian came to Medac Pharma in 2013, as Senior Director and then VP of Marketing, and now as VP Sales and Marketing. bpeters@medacpharma.com

MEDAC PHARMA, INC. is a specialty pharmaceutical company based in Chicago, Illinois, focused on the development and commercialization of treatments for autoimmune diseases and oncology. By forming new partnerships and leveraging its business development efforts, Medac has had the opportunity to make significant medical advancements that can help patients live better lives.

BOB ROSSILLI President US Commercial Operations Bio Products Laboratory

With over 25 years of progressive industry experience, Bob has continually demonstrated a passion for building customer-focused teams, creating strong employee engagement, and delivering results. He has a proven track record of working successfully in commercial leadership roles including commercial operations, sales, marketing and training functions. He deeply understands the evolving healthcare landscape across customer types, business models and therapeutic areas. His previous experience includes positions as VP Sales at GlaxoSmithKline and Sanofi-Aventis. He joined Bio Products as VP Sales before moving to his current assignment. Bob.rossilli@bplgroup.com

BIO PRODUCTS LABORATORY is a UK headquartered group which delivers life-saving treatments around the world for conditions related to immune deficiencies, bleeding disorders and critical care. These treatments are produced through complex transformation of plasma, which is collected from US donors in a number of US-based collection facilities.

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INDUSTRY

UVision360 CEO Allison London Brown: The Expertise of Entrepreneurship Allison London Brown began her career at Johnson & Johnson and GE Healthcare. Comfortable and successful in positions at some of the biggest corporations in the world, she thought she’d spend her career with that kind of company. “At J&J, I loved my job, I loved our people, our products and our company.” But it turned out that she had other skills that took her in the opposite direction. To date, she has launched over 90 products and services, including building or founding nine startup companies, the latest of which is UVision360, developer of the LUMINELLE DTx Hysteroscopy System. This is a fully integrated hysteroscopy and cystoscopy system that is changing diagnostic & therapeutic procedures for the modern office. Allison is also the author of three publications and co-inventor of six patents. How did she take all these turns? We’ll get to her advice in a little while. Allison credits J&J and GE with

23 | HS&M MARCH/APRIL 2019

teaching her some of the important lessons that contributed to her amazing career. “J&J was about sticking to the plan. GE was about working within budgets,” she says. Both of these skills would be vital to what came next. What propelled her in other directions was her unusual networking ability. She is fascinated by people’s stories, and gets excited when they explain ideas to her that could be viable. It’s turning those ideas into marketable products that is the trick Allison has mastered. “So you think you have a great idea that you know would make lots

of money in the market. Sounds like it would be great to start your own company! You certainly have the experience, the pedigree and the business sense to start from concept and go to launch. And you know people that will help you,” she says. “But 95% of the people who come out of corporate America with the intent of becoming entrepreneurs fail because they have no idea what entrepreneurship really means,” Allison explains. “It’s very hard work, you wear a lot of hats, you start out with little or no support staff, and you have to learn on the

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INDUSTRY fly and trust your intuition. It’s also really hard to leave the support of a big company behind.” She calls startup land the most challenging, rewarding and lifechanging professional event you may encounter. It’s filled with risks and pitfalls, but for the right individual can be an amazing growth opportunity. She experienced some of those pitfalls in the 2008 recession. “I learned about downsizing, rightsizing, strategic pivots and failures—lots of failures. But these much harder personal lessons also taught me perseverance and prepared me for the life of a start-up CEO. And perseverance is probably the most important trait for start-up executives” Mainly, startups are a labor of love requiring passion for what you do. Allison describes the UVision360 process. “I made probably 150 presentations in the first six months for our Series A fundraise—and loved telling our story over and over.” Those presentations had their own special challenges. She was in board rooms not with healthcare experts, but with angel investors and small cap VCs, who are mostly men. “Speaking to them about women’s products, particularly hysteroscopy equipment, can be a delicate matter. You have to stick to the need, the potential and the differentiation, even though the ultimate goal is helping the physician and the patient.” Yet it’s that human side that drives Allison all the time.

25 | HS&M MARCH/APRIL 2019

STEPS TO SUCCESS As a long-term advisor to many companies in addition to the ones she has started, Allison has some very specific advice for those who want to make the jump to an entrepreneurial role. 1. People are the most important asset “Yes, it’s a cliché. Yes, everyone says it. But it’s true! I was able to recruit a great partner and corporate refugee, Erich Dreyer, out of Teleflex to join me on this adventure with UVision360. We talk about resources and development and trust and team building all the time in succession planning and corporate outings.” Erich and Allison were the whole team for the first two years, along with their CMO, Dr. David Robinson, until they knew they had their funding and could bring in other vital players. This is where her networking skills paid off. “My first call after accepting this role, was to Dr. Dave, my former CMO at Ethicon Women’s Health. I knew a lot of valuable professionals from my J&J days. That was a start. And I remembered others I had met along the way who I knew would be the right fit for UVision.” All of that is important because of the immense pressure on each participant. “Every day Erich and I make very quick decisions, without committees or lengthy presentations. That might sound like a dream for corporate people tired of long meetings, but consider the impact of a bad decision. Did we consider all the parameters? Do we have the expertise to flip this switch? There is no crying in

baseball and there is no pity party in a start-up. Making the right call is the difference between a commercial launch and an investor write-off.” This principle shows up in rewarding the contributions of her people. Almost all of the people involved with UVision360 have equity in the company. They all have a stake in the value creation for the company.

2. Know your value proposition FIRST!

All too often, we are presented with great technology that is looking for a home. And while R&D, regulatory strategy and operational excellence are so important, if you don’t know how to sell it, you won’t make money. “I have seen numerous companies fail because they start down a regulatory path without knowing what claims or marketing messages they want to use. It is even more important in a start-up to know these things, because you don’t have extra cash to waste on a pivot to a new message.” Allison had long experience with women’s health, dating back to when she worked in the Gynecare business at J&J. So she understood the landscape of the sector, and what the value proposition was for LUMINELLE.

3. Your device is not the whole business model

It’s just one item in your bag. Can you wrap it around other programs or services or sustaining reoccurring revenue items that not only improve your bottom line but can be very impactful to your customers? “For UVision360, the

razor/razor blade is inherent in the system itself, but helping our customers transition hysteroscopy into the office by offering a full service is key. Things like instrumentation or even something as simple as a fluid collection bag, are important to our customers. Our system is a reusable scope, plus a portfolio of sterile sheaths that allow a physician to move procedures into their office, allowing them to practice where and how they want, and choosing the right approach for their patients. And it comes in at a very affordable price point.” Which takes us to…

This change also impacts your regulatory filing, human factors, marketing plan and overall economic value proposition. Our system is allowing access to office hysteroscopy to a much broader physician base—ones who couldn’t afford it in the past or ones who were concerned with the ability to set-up their office to manage patients. Thinking about every detail from set-up and cleaning, physician ergonomics, and to patient comfort due to demographics (like size and BMI), changed much of our design.”

4. Changing the point-of-care “You must know where, how and when your customer will utilize your product. In the case of LUMINELLE, the device is not only smaller, lighter and easier to use than the competition, it is a gamechanger in terms of point of care. The system allows the physician to move from the OR to the office setting, speed up the procedure, do it less expensively…but it also does not require the doctor to have to overly adapt to this new way of doing things.” Allison told us “Docs don’t like difficult change. And they do like having the support staff available in the OR. So we had to sell on the proposition that this was accomplishing the goal for the patient and the HCP, in 75% less time, less expensively, with all the safety, versatility and comfort necessary, and faster recovery times.” Allison notes that this is especially important with hysteroscopy—the only type of diagnostic and therapeutic procedure that allows the HCP to share decision-making with a fully-awake patient.

5. Your patients, physicians and people come first

Another point of view that many people express but few adhere to. “I started at J&J in 1997, back in the days of yearly courses on the Credo. The notion that customers come first did not seem like a novel or strange concept to me at the time. But over the years I have seen that most companies, and certainly most people, have a hard time relying on that belief when the bottom line or EPS or EBITDA is challenged. Our team thinks first about what is important for our patients and docs. I have found time and time again, that the money and investor value creation can follow. It is not always easy to do, but taking short-cuts can have major patient impact later. PASSION IS PROGRESS That last point is central to everything Allison has done. “If you’re in it for the money, you’re likely to fail. If you’re in it because you believe in what you’re doing, you will succeed,” she says.

She has plenty of impressive metrics in her background. Her work for Bioventus resulted in 27.5M touchpoints and 8000 HCPs trained on their content. She created the first orthopedic personalized medical education portal. For Stanley Healthcare she implemented a $274M healthcare technology acquisition. Proof that she has learned the launch lessons is in the numbers for UVision360, too: she and Erich funded their entire development program for $1.7M, got it done in 18 months, submitted it to the FDA and got clearance last August—for a dual indication. But what she’s proudest of—again a common ideal often honored in the breach—is doing the right thing. That applies to serving the needs of patients and physicians, working with people who share her vision, and applying her skills where they’re needed most. Today, in addition to her duties at UVision360, Allison helps non-profits and government organizations that need her kind of experience and caring, and she is on the board of the Council for Entrepreneurial Development, as well as Plakous Therapeutics “I believe in this industry, and in what so many brilliant people are doing. What’s often lacking is the understanding of the marketplace over and above the genius that goes into a valuable product that fills a need. Sometimes it just needs another viewpoint to unlock the value, and I’m here to support that.” And she does. •

HS&M MARCH/APRIL 2019 | 26

TOP 50

CLICK HERE TO GET TOP 50 BIOTECH COMPANIES

BIOTECH COMPANIES

TOP 50 BIOTECH COMPANIES Biotech was up again in 2018. Of the entirety of our industry, biotech has the most volatility. Full of ups and down, 2018 saw some heavy investor payoffs and exciting new technologies. This year is off to an exciting start with the $74 million mega-deal of BMS and Celgene. This deal has set the tone for an even bigger 2019. Total 2018 revenues for the Top 50 increased at a rate of 9%, for a total of $324B, similar to what we saw from 2016 to 2017. Revenue is still dominated by the top 10 companies, which remains at 73% of the total at $235B. Each of these top 10 companies have revenue exceeding $15B. Growth is the mainstay for biotech, with 32 of the companies experiencing a revenue increase and only 18 a revenue decrease.

27 | HS&M MARCH/APRIL 2019

Hereâ&#x20AC;&#x2122;s a snapshot of where the Top 50 (based on revenue) were at yearâ&#x20AC;&#x2122;s end. Companies are ranked by their 2018 revenue as furnished by their annual reports, earnings press releases and publicly available sources such as Edgar and Morningstar stock information websites. Figures of non-U.S. companies who did not report earnings in U.S. dollars were converted to U.S. dollars based XE currency data as of 12/31/18. Companies with fiscal year end dates in 2018 that are prior to 12/31/18

have their revenue listed as 2018 revenue. Additional companyspecific notes for the compilation include: Activis plc is now listed as Allergan per name change. Bausch Health was formerly Valeant Pharmaceuticals as reported last year. AbbVie was added this year due to its continued acquisitions in the biotech arena.

BIOTECH COMPANIES

Companies are ranked by their 2018 revenue as furnished by their annual reports and publicly available sources such as Edgar and Morningstar stock information websites. Figures of non-U.S. companies were converted to U.S. dollars from various currencies. CLICK HERE TO GET TOP 50 BIOTECH COMPANIES

RANKING COMPANY LOCATION

2018 CHANGE REVENUE IN US$B

Basel, Switzerland

56.80

2 NEW ABBVIE

Chicago, IL, USA

32.75

AMGEN

Thousand Oaks, CA, USA 23.75

GILEAD SCIENCES

Foster City, CA, USA 22.13

TEVA

Petach Tikva, Israel

NOVO NORDISK

Bagsværd, Denmark 17.10

MERCK KGAA

Darmstadt, Germany 16.97

ALLERGAN

Parsippany-Troy Hills, NJ, USA 15.80

SHIRE

Basingstoke, England, UK 15.70

CELGENE

Summit, NJ, USA

BIOGEN

Cambridge, MA, USA 13.45

BAUSCH HEALTH

Laval, Quebec, Canada 8.38

CSL BEHRING

Victoria, Australia

REGENERON

Tarrytown, NY, USA 6.71

GRIFOLS

Barcelona, Spain

ALEXION

New Haven, CT, USA 4.13

SUN PHARMA

Mumbai, India

4.09

UCB

Brussels, Belgium

3.68

ILLUMINA

San Diego, CA, USA 3.33

VERTEX PHARMACEUTICALS

Boston, MA, USA

3.05

ENDO INTERNATIONAL

Dublin, Ireland

2.93

IPSEN

Les Ulis, France

2.54

DR. REDDY’S LABORATORIES

Telangana, India

2.25

NOVOZYMES

Bagsvaerd, Denmark 2.19

INCYTE

Wilmington, DE, USA 1.88

ROCHE

29 | HS&M MARCH/APRIL 2019

19.70

15.28

7.92

5.10

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BIOTECH COMPANIES

RANKING COMPANY LOCATION

2018 CHANGE REVENUE IN US$B

JAZZ PHARMACEUTICALS

Dublin, Ireland

1.85

UNITED THERAPEUTICS

Silver Spring, MD, USA 1.71

BIOMARIN

Novato, CA, USA

1.50

HORIZON PHARMA

Dublin, Ireland

1.38

NEKTAR THERAPEUTICS

San Francisco, CA, USA 1.19

ALKERMES

Dublin, Ireland

SOBI

Stockholm, Sweden 1.03

EMERGENT BIOSOLUTIONS

Rockville, MD, USA 0.78

BIOCON

Bangalore, India

0.68

SEATTLE GENETICS

Bothell, WA, USA

0.66

IONIS PHARMACEUTICALS

Carlsbad, CA, USA

0.60

AMAG PHARMACEUTICALS

Waltham, MA, USA 0.50

ACORDA THERAPEUTICS

Ardsley, NY, USA

GENMAB

Copenhagen, Denmark 0.46

CHINA BIOLOGIC PRODUCTS

Beijing, China

0.44

MIMEDX

Marietta, GA, USA

0.38

PACIRA PHARMACEUTICALS

Parsippany-Troy Hills, NJ, USA 0.33

LIGAND PHARMACEUTICAL

San Diego, CA, USA 0.25

GALAPAGOS

Mechelen, Belgium 0.23

PDL BIOPHARMA

Incline Village, NV, USA 0.22

INTERCEPT PHARMACEUTICALS

New York, NY, USA 0.18

PHARMAMAR

Madrid, Spain

SPECTRUM PHARMACEUTICALS

Henderson, NV, USA 0.14

NOVELION

Vancouver, British Columbia 0.13

ANIKA THERAPEUTICS

Bedford, MA, USA 0.11

31 | HS&M MARCH/APRIL 2019

1.09

0.47

0.17

PARTICIPATE AND GET THE FULL RESULTS!

HOW ARE YOU DOING $ALARY-WISE? We know this is a question most people ask themselves all the time, and we’re happy to provide you an answer by participating in our 2019 Compensation and Hiring Survey. PARTICIPATE IN OUR 2019 COMPENSATION AND HIRING SURVEY HERE We are pleased to open our yearly survey where we poll key people in the medical device, pharmaceutical, and biotech sectors of the industry to determine compensation trends. The survey is completed in conjunction with Jacobs Management Group, Inc., a leader in executive search for the healthcare industry and all participants receive a survey summary so that you can see how you compare. Please click here to be taken directly to the five-minute survey. The 2019 Compensation and Hiring Survey builds on the feedback from 2018 Survey, highlights of which were published in the FEBRUARY/MARCH 2018 ISSUE

issue of HS&M. Companies ranged in size from over $100B to over $10M, and over 80% of the respondents had titles of manager or above. “We continue to receive accolades for this targeted industry report” says Jacobs Management Group, Inc. President, Cari Kraft. “Our results have become one of the key inputs into compensation benchmarks.” All specific survey information and your contact information will be held in strictest confidence. We will email you with the results as soon as they are published.

COMPANY SIZE

For assistance building your team, please reach out to Cari Kraft ckraft@jacobsmgt.com or call Cari at (215) 383-3001.

BIOTECH

The Biotech Sector: Vibrant and Volatile Excerpted from Vantage 2019 Preview by Amy Brown, Jonathan Gardner and Edwin Elmhirst

33 | HS&M MARCH/APRIL 2019

THE BIG PICTURE While biopharma has been the focus of a lot of attention and activity recently, Vantage’s assessment of 2019 suggests that it’s headed for rough waters. Here’s a sample of the metrics and predictions from their insights. Biopharma is heading into 2019 on very shaky footing. The turmoil has largely been triggered by fears from beyond the sector. It is hard to predict how much further markets might fall, though most agree that a more volatile year is approaching.

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Doris Pommi Global SVP, General Manager, Cardiovascular Care Siemens Healthineers

Emmanuel Grenon Senior Director Strategy, Business Development & Integrated Health Solutions Medtronic

Rodamni Peppa VP, Business Strategy & Commercial Excellence, Europe Boston Scientific

Christophe Dujardin Vice President & General Manager, Surgical Europe Stryker

Satschin Bansal Senior Director Digital Health, EMEA Zimmer Biomet

Thomas Kraft SVP, Global Marketing & Sales B Braun Medical

Valerie Gautier Digital Communications Director, Europe GE Healthcare

Book your place online at medforceeu.wbresearch.com

BIOTECH Figure 1.

The situation is not completely dire, however. For example, few are predicting that 2019 will see a substantial retrenchment in venture funding, though firms are expected to start investing more prudently. And, while the public markets are showing a diminishing appetite for new issues, the IPO window is far from shut. Substantial sums are still being raised by some. This report attempts to identify swing factors that could improve or damage sentiment, and shift that perception over the year. Excitement about new technologies that are delivering real breakthroughs remains palpable, but several are in launch phase or approaching commercialization. Hopes for the immuno-oncology space were significantly reined in after the spectacular failure of Incyte’s epacadostat last March, and while expectations are low for

35 | HS&M MARCH/APRIL 2019

substantial progress, a surprise win from another IO combo would lift spirits.

Should the agency alter its stance, the sector would have a real reason for an existential crisis.

Huge optimism prevails around cell therapy and related techniques, however, and it is in this realm that valuations remain testing. The extent to which companies with unproven technologies can maintain their billion-dollar-plus valuations next year will signal the depths of any downturn; these include Allogene, which is working on allogeneic CAR-T therapies, or those pursuing gene editing like Crispr Therapeutics.

“If you are a high-quality company looking to raise capital you can probably still squeak by. But a market downturn like this creates an extra layer of hesitancy, and for poorer-quality companies it will be harder,” says Salim Syed, head of biotechnology equity research at Mizuho.

On the plus side, the US FDA looks like it will remain one of biopharma’s best friends. The influential regulator’s willingness to speed novel therapies to market on controversially slim evidence has emboldened companies and investors to take ever-greater risks. Perhaps this is another red flag.

BIOTECH IPOS Broader market trends will play a big role in shaping the biotech IPO market in 2019, but so will the performance of more recent entrants. And, encouragingly, the graph above (Fig. 1) shows that 2018’s flotations are performing largely in line with other years. But the IPO window was so wide open in early 2018 that very earlystage companies, even some that

Figure 2.

had yet to move into the clinic, were able to float. Given that rates of failure are much higher at earlier stages of drug development, investors could yet find themselves disappointed.

firm evidence to support the company’s Mr.NA platform, its performance in the coming years could have a big influence on how investors view new prospects emerging from the biotech sector.

“I have not been a fan of the IPO market this year; the quality has been particularly low. Companies have been going way too early, and that worries me a bit,” says Brad Loncar, a private biotech investor and founder of the Loncar Cancer Immunotherapy ETF. “I personally don’t think you should be on the market unless you have some sort of proof of concept.” (Fig. 1)

If any further evidence is needed that bankers are growing cautious about the future, the decision to float Moderna with 10 banks underwriting the offering is surely it. It is not inconceivable that the company was advised to go for it while it could.

Pricey new issues from the class of 2018 that have yet to prove themselves include Allogene and Rubius, both of which will be watched closely next year. But the biggest test of the market’s appetite for high-risk propositions is surely Moderna. With little in the way of

A 20% share price drop on Moderna’s first day of trading—erasing $1.5B of market capitalization—is surely a sign that investors are already less willing to bet on longerterm promises. (Fig. 2) Much of the latest IPO boom was fuelled by venture capital firms, themselves flush with cash, pushing their portfolio companies on to

the public markets while they had the chance. However, venture firms are also anticipating something of a slowdown in 2019. “I wouldn’t be surprised to see fewer IPOs, and the market might adjust somewhat, but I think it will continue to be a strong market. You don’t need record numbers for it to be a strong market,” says Thilo Schroeder, partner at Nextech Invest, a venture firm that focuses on oncology. Records were certainly set by the venture world in 2018. The third quarter alone saw $5.1B invested in start-up drug developers, according to EvaluatePharma, as firms increasingly chose to support their portfolio companies with ever larger pots of money. This phenomenon of “shareholder recruitment”– the formation of broad syndicates capable of amassing huge amounts of money for HS&M MARCH/APRIL 2019 | 36

INDUSTRY Figure 3.

individual start-ups—is showing no sign of going out of fashion in 2019. This trend is occurring partly because investors believe that it is important to give platform companies the means to make several shots on goal, Mr. Schroeder says. And a bottleneck in talent means that strong balance sheets are needed to attract experienced management teams, another issue that will persist next year. “There won’t be another batch of chief medical officers with 20 years of experience appearing overnight,” he adds. (Fig. 3) Buyouts remain the most desirable exit route for venture investors, and the graph above shows how takeouts of private companies have plunged since the 2015 bubble.

37 | HS&M MARCH/APRIL 2019

Equity investors have vocally lamented the lack of takeover activity over the past couple of years, but the analysis above shows that, in terms of the volume of deals being struck, buyouts of public companies have actually remained pretty static. It is the private buy-outs that have plunged, volume-wise, and a closer look at takeouts of VC-backed companies shows why these firms should be worried in 2019. After accounting for at least a quarter of all deals for the past four years, interest in these portfolio companies seems to have waned. REGULATION, INNOVATION AND POLITICS As biopharma heads into a down year the hunt is on for events that might lift investors’ spirits—or deepen the gloom.

One thing that looks almost certain is a clement regulatory climate, in the US at least. Four out of the last five years have seen a much higher than average rate of positive outcomes from the FDA, versus the 10-year average. According to the regulator’s own statistics applications have also risen, but not at the same rate; although not much data have been seen for 2018 yet. This uptick presumably largely reflects the FDA’s internal efforts to get new drugs to market more quickly and efficiently. Many believe that the jump in numbers is also a result of lower efficacy hurdles. (Fig. 4) There are few signs of this friendly stance shifting next year. A highprofile safety scare could force regulators to start taking a harder look

Figure 4.

at applications, but these events are almost impossible to predict. A longer-term question is what this trend means for the quality of the medicines reaching the market. “A lot of this bull market has been driven by a super-permissive FDA. This has emboldened risktaking by both biotech companies and investors,” one investor, who preferred not to be named, told Vantage. Perhaps growing payer pushback is another sign that the approval bar has been lowered. The FDA would argue that its primary function is to ensure that new medicines are safe, but some counter that this priority is being marginalized in the push to get new drugs to patients at an ever-faster pace.

It is undeniable that industry has unashamedly been using expedited pathways to get faster access to revenue streams, and FDA approvals based on surrogate endpoints have been growing. THE NEW NORMAL? Biopharma headed into 2019 on a decidedly downbeat footing. But despite the ongoing stock market volatility and risk of a rise in drug price rhetoric in the US, many are maintaining an optimistic stance. “Macro concerns keep us on our toes. In this environment we have to adjust. Science is progressing at an exponential rate, and there are a lot of positives to be found,” says Nextech’s Mr. Schroeder.

Mr. Loncar agrees. “Biotech goes through peaks and valleys, and we’ve been in a pretty rough valley for the last six months or so. But the thing about our sector is that one piece of good news can turn it all around,” he says. At the end of the day, biopharma thrives or dies by the advances being made. “People need to see innovation—particularly generalist [investors] who look so much at issues like drug pricing,” Mizuho’s Mr. Syed says. It seems highly unlikely that rising stock market tides will buoy the life science sector in 2019. Innovation needs to be delivered. Over to you, biopharma. •

HS&M MARCH/APRIL 2019 | 38

INNOVATIONS

The Prix Galien USA Awards For Medical Technology Healthcare Sales & Marketing has run a number of articles on the astonishing innovations emerging all the time in our industry. Last issue we featured the Cleveland Clinic Top Ten, a celebration of advances they consider most promising. In this issue we are happy to present the winners of the Prix Galien awards. But award winners are not the only innovators worth talking about. You may know of people who have been responsible for inspiring new ideas in healthcare. We want to exhibit more of these in every issue. So please send us your nominees to our associate publisher, Natalie Newcamp, at nnewcamp@hsandm.com.

The Prix Galien was created in France in 1970 by a pharmacist named Roland Mehl. Its aim was to promote significant advances in pharmaceutical research. Since its creation, the Galien award has grown into a major event. It is considered as the industry’s equivalent of the Nobel Prize. (Until his passing in July of 2016, Nobel laureate Elie Wiesel was Honorary President Emeritus of The Galien Foundation.) The foundation and award were named in honor of Greek anatomist, physiologist, clinician and researcher Galen, the father of modern medicine and pharmacology. The Prix Galien USA Awards Ceremony was launched in 2007, first honoring unique medical products, later devices, and finally, individuals who have impacted patient care through innovation. It awards prizes for Best Pharmaceutical Agent (i.e. small molecule), Best Biotechnology Product, and Best Medical Technology approved by the FDA in the past five years. Up to three prizes may be awarded annually in each of these categories.

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“The Prix Galien is a welcome initiative to stimulate creative research and promote excellence.” — Barack Obama, President, United States (2008) Before the candidates can qualify for the award, their products need to be FDA approved for market within the last five years. They also have to show major potential to impact healthcare. In 2018, the foundation chose 10 nominees for “Best Medical Technology.” Below is a selection of those. (Our thanks to Medical Design and Outsourcing for their assistance with the content of this article. For a full list of nominees and their product descriptions, go here.)

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INNOVATIONS

WINNER FOR BEST MEDICAL DEVICE: Boston Scientific Watchman, left atrial appendage closure device

The Watchman from Boston Scientific is a left atrial appendage closure device that helps reduce stroke risk. Itâ&#x20AC;&#x2122;s a first-of-its-kind, proven alternative to long-term warfarin therapy for stroke risk reduction in patients with nonvalvular atrial fibrillation. Itâ&#x20AC;&#x2122;s delivered through a transfermoral approach that is designed to close the left atrial appendage (LAA) to prevent migration of blood clots. By preventing blood clots, the device reduces the risk of stroke and systemic embolism. WATCHMAN is engineered to conform to the unique anatomy of the LAA.

Tim Lane, Manager, Interventional Cardiology Business, Boston Scientific, accepting the award. 41 | HS&M MARCH/APRIL 2019

OTHER NOMINEES: Abbott

FreeStyle Libre: Flash glucose monitoring system Abbott’s FreeStyle Libre System is a glucose measuring system that eliminates the need for finger sticks or finger stick calibrations. It measures glucose levels through a small sensor that is applied to the back of a user’s upper arm. The sensor is the size of two stacked quarters and gives real-time readings for up to 10 days, according to the company. The sensor is also able to read glucose levels through clothes. Each scan provides three pieces of data, including real-time glucose results, an eight hour historical trend and a trend arrow showing the direction their glucose is headed. The accompanying touchscreen reader can hold up to 90 days’ worth of data to allow people to track glucose levels over time.

BrainScope Company BrainScope One

BrainScope’s BrainScope One system is an easy-to-use, non-invasive, handheld platform that allows physicians to assess head injuries at point-of-care. The device is FDA-cleared and is based on EEG technology. BrainScope One is non-invasive and painless and can be used on patients who are aged 18-85 years old within three days of a head injury. It measures and interprets brain activity and neurocognitive function to help physicians make clinical diagnoses.

HS&M MARCH/APRIL 2019 | 42

INNOVATIONS

Integra Lifesciences

Omnigraft Dermal Regeneration Matrix The Omnigraft Dermal Regeneration Matrix from Integra Lifesciences is an advanced bilayer dermal regeneration matrix that treats diabetic foot ulcers. It is the only FDA-approved product that can regenerate native dermal tissue, according to the company. The patch has a built-in silicone layer that serves as a temporary epidermal layer and provides immediate coverage for wound protection. It can be removed between two and three weeks. Under the silicone layer is a collagen/ chrondroitin-6-sulfate matrix that acts as a dermal replacement layer. The Omnigraft features a bioengineered scaffold that promotes dermal regeneration and is designed with a controlled porosity and degradation rate. The Omnigraft Dermal Regeneration Matrix is designed to be used for treating partial and full thickness neuropathic diabetic foot

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Koning Corporation KBCT 1000

The KBCT from Koning is a breast imaging device. It offers high-contrast, real 3D images of the breast with spatial resolution and no painful compression in a 10-second exposure with radiation levels that are the same as normal mammograms. The real 3D image features isotropic images in a 3D display to allow clinicians to evaluate tissue from any angle, eliminating overlapping structures. KBCT’s 3D scan is non-contrast, contrast enhanced and shows blood vessels and calcifications.

Medtronic

Implantable System for Remodulin Medtronic’s implantable system for Remodulin is designed to treat patients who have pulmonary arterial hypertension. The system features the company’s SynchroMed II implantable drug infusion pump with a newly developed intravascular catheter that deliver Remodulin intravenously to patients who have previously received the drug through an external infusion pump. Medtronic announced on July 31 that the system received FDA approval.

In medical device, pharma, bio and other areas of healthcare, great ideas are helping millions all the time. Please send us your suggestions for our ongoing Innovators column: write to nnewcamp@hsandm.com.

COMMENT HS&M MARCH/APRIL 2019 | 44

INDUSTRY TRENDS: BY THE NUMBERS Compiled by Cari Kraft, Jacobs Management Group, Inc.

$15-17B/YR Anticipated product growth per year from 2018-2021 New product growth in pharmaceuticals is expected to be between $15-17B per year in 2018-2021, after only $9B in 2017, primarily because of an unusually low number of new medicines launched in 2016. Source: Medicines Use and Spending in the U.S., Outlook to 2021, IQVIA Institute for Human Data Science, May 2017

27%

50M

Number of patients who will be monitored remotely by 2021 The number of patients monitored remotely is expected to reach 50 million in the next couple of years, while the global market for remote patient monitoring devices is expected to reach US$1.9 billion by 2025. Source: mHealth and Home Monitoring, Berg Insight, 2017

Voters who indicate that healthcare is their most important issue Politicians don’t seem to be in synch with voters on some issues. Healthcare was noted as the most important topic by 27% of voters—the largest category—yet immigration was what 58% reported they were hearing most about from candidates. Source: Kaiser Family Foundation Election Tracking Poll, September 19-October 2, 2018 45 | HS&M MARCH/APRIL 2019

Mechanisms of action against cancer in development There are 60 mechanisms of action to fight cancer in the early stage immunotherapy pipeline currently, as compared with only four in the late stage pipeline. Source: Clarivate Analytics Cortellis, April 2018

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32 out of 35 $1B + deals focused on immuno-oncology In the last five years, there were 35 licensing, joint venture and research-only deals in excess of $1B. Of these, 32 were focused on immunooncology, indicating the dominance of that sector in medical exploration. Source: Biopharma Dealmakers, March 2018

of physicians are at full capacity or overextended In a survey of nearly 9,000 American physicians, 80% reported being overextended or nearly so. Most said that record-keeping is their greatest source of dissatisfaction, and that patient relationships are their greatest source of satisfaction. Source: Survey conducted on behalf of The Physicians Foundation by Merritt Hawkins, September 2018

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COMMENT HS&M MARCH/APRIL 2019 | 46

PHARMACEUTICAL

Great Advice From Great Minds: Novo Nordisk Commercial Director: Sales is Driven by Both The Metrics—And The Culture Frank Armenante is one of those rare breeds in our industry who stays with one company for many years. His primary assignments in over 20 years in healthcare have been ten years with Bristol-Myers Squibb and more than a decade now with Novo Nordisk. At BMS, he was Manager of Incentive Compensation, designing and collaborating on compensation with marketing brands across multiple divisions and teams. Interfacing with several sales forces, he gained insight into the landscape of sales strategy and challenges. This prepared him for his early work at Novo Nordisk, where he began in a position similar to the one he held at BMS but moved up through sales as a District Manger to Associate Director of Institutions Operations, Business Manager, and ultimately to Director of Commercial Execution, where he’s been for the last three years. He focuses on the sales force’s integration with all the groups within the company—marketing, training, public affairs and more. In other words, he’s the bridge by which these various functions communicate and collaborate. At conferences, he offers his wisdom about how to drive sales performance through culture as well as data. 47 | HS&M MARCH/APRIL 2019

How does Frank measure performance? “We have three mantras,” he says. “One is helping five million patients by 2020. We’re currently at 3.8 million. Two is market share, where we are the leader and expect to continue to be. Three is patients who are ‘New to brand,’ either new diabetes patients or those who have moved from another medication to ours.” All of these markers are increasing, and, given the company’s dominance in the sector, are likely to continue doing so. As to management style, Frank draws the contrast between Billy Beane, baseball’s Oakland Athletics general manager famous for developing the philosophy of sabermetric principles to hire undervalued players, and Joe Torres, who had a “ragtag” group of players on the Yankees, whom he motivated with his inspirational personality. Torres drove the Yankees to four World Series wins, while the Athletics, while much improved, are still waiting

for their first. Frank’s point is that it takes both sides of the equation—the metrics and the personal approach—to get the most out of your team. So when it comes down to it, your sales leader is still a key driver. That’s why he’s keen on cultural issues, particularly connection, as an underpinning of performance in sales. He says that, from the top of the organization to the people on the street, it’s about the sales force believing in the mission. Frank points out that “Almost everyone in our company has somebody who has been impacted by diabetes.” He says that it takes tapping into that close connection that helps the sales people communicate effectively. Taking it one step further, hiring people who themselves have diabetes allows the sales force to speak to clinicians “from the heart”—from their own experiences, which helps them connect to HCPs, and explain it as a personal cause.

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PHARMACEUTICAL Frank Armenante, Director, Commercial Execution

“We’re helping the patient to understand that they’re not alone.” Putting the patient in the forefront has been a theme throughout the patient centricity trend and has a key impact on sales. Frank notes that Novo Nordisk comprises three divisions—diabetes, obesity and their biopharmaceuticals, which are focused on growth hormones and hemophilia. Obesity, for instance, is not recognized as a disease state, yet is an enormous problem in the U.S., and leads to other disease states as well. In order to accomplish their mission of tackling this epidemic, they have to concentrate on the patient directly—not just by administering product but by understanding the life issues of the patients themselves. That’s why they go beyond the traditional marketing approaches to provide a lot of patient education that helps people with lifestyle challenges beyond the medication. The company culture, he says, has always been supportive of every aspect of help for the patient. They 49 | HS&M MARCH/APRIL 2019

are aggressive in innovation, but also stand by still-valuable older products. They provide “Cornerstones4Care” educational materials, including a health coach who is available to patients for up to ten calls. At Novocare.com, there are flexible options for acquiring product and assistance for those who have trouble affording it. With respect to the physicians, Frank says “The doctor’s patient is our patient. That’s why we have a smartphone app to assist them in helping the patients. Diabetes is a complicated disease state, and everybody in the process has to keep

up with the latest information.” The challenge is to “Help the doctor realize that we’re there to help their practice and their patients; to show the doctors that we are on the patients’ team.” Frank acknowledges that the industry as a whole has matured from a more bottom-line approach to one that recognizes the benefits of knowing the patients better. In addition to the increased engagement of the employees, knowing the patient better helps in other ways as well. For example, the plague of non-adherence is a huge barrier to creating the better patient outcomes. Connecting with the patient led to changing tactics from traditional media to social media, where a more intimate and two-way conversation is available. He says “We’re helping the patient to understand that they’re not alone.” Finally, we asked Frank about his general view of management. He offered three key commandments. “Think big, so you see the entire horizon. Act fast—know the landscape and respond with a sense of urgency and partnership. And be real—be connected and honest, because that’s the only way to maintain the trust that is vital to the future of our industry.” •

Jill Donahue Principal, Excellerate Author, Engage Rx: The 3 Keys to Patientfocused Growth Co–founder, The Aurora Project Jill, HBa, MAdEd, is a keynote speaker, author and thought leader who has authored two books on Influencing in patient-focused ways and co-founded The Aurora Project, a global patient-centricity group. She also serves as Associate Editor of Healthcare Sales & Marketing. Jill.Donahue@excellerate.ca

COMMENT

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MOTIVATION

MOTIVIDEOS By Cari Kraft, Jacobs Management Group The morning meeting is a special place. It sets the tone for the rest of the day. Motivideos has become one of our most popular features because it gives you that springboard to liven up your staff and establish a positive note for the next hundred tasks they’ll take on. Enjoy. Millenials in Medicine

Your Friend Stress

Use this video to give your team a view into their new client—the Millennial Doctor.

Whether at home or at work, stress is inevitable at some points in our lives. Have a tight deadline coming up? This is a great one for your team to help calm the waters. Listen as Kelly explains ways to take that stress and have it drive our productivity.

Reaching Further When you need to kick-off a meeting a connect your team to why we do what we do. This video highlights a medical advance offering new possibilities to a young girl with ambition and optimism.

Speaking Like a Leader This one is just for you when you are preparing for a critical presentation. Simon Lancaster, top speech writer, shares 6 easily adoptable techniques used by leaders.

Submissions are welcome. If you have one you like, email a link to me at ckraft@jacobsmgt.com.

Cari Kraft leads a team of master level recruiters at Jacobs Management Group, celebrating 30+ years of executive recruiting in the healthcare (pharmaceutical, medical device, biotechnology) and high-tech industries, nationally. Prior to joining Jacobs Management Group, Ms. Kraft has held positions as a Senior Sales Executive, Director of Business Development and Director of Marketing. She also has deep knowledge of the technology/startup fields, having been in the industry through the rise of the Internet. Ms. Kraft is a University of Pennsylvania/Wharton alumnus holding a degree in economics and decision sciences. Cari can be reached at ckraft@jacobsmgt.com.

COMMENT 51 | HS&M MARCH/APRIL 2019

April 30 – May 1 Sheraton Philadelphia University City, Philadelphia, PA The healthcare landscape is rapidly changing. The value proposition for life science organizations and their brands is facing increasing pressure (especially with the recent Senate hearings on drug pricing) and technology across the healthcare ecosystem is evolving at a breathtaking pace. Now is the time for disruption; and the most exciting time in decades to work on the commercial side of life sciences. Now is the time to learn about how these dynamics are impacting the industry, and to discover how thought leaders are adapting and leading change across their organizations. Now is the time for Digital Health for Pharma. See what's on the agenda — download a copy now . Join us at this inaugural event designed to help accelerate the life science industry better understand the ability to leverage digital health to drive commercial impact. Reserve your seat now and be sure to use Priority Code DH19HSM to

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Millenials in Medicine

Reaching Further

53 | HS&M MARCH/APRIL 2019

Your Friend Stress

Speaking Like a Leader

HS&M MARCH/APRIL 2019 | 54

NEW! AGENCY AND PROVIDER DIRECTORY! Healthcare Sales & Marketingâ&#x20AC;&#x2122;s New Feature As a value to the industry, we have initiated a project to profile the top agencies so that you have them at your fingertips. We are compiling digitally a searchable single source to give you access to the whoâ&#x20AC;&#x2122;s who, their strengths, vision for the future, leadership and strategies, so that you can get a better feel as to how they work. We are driven by the input of our readers so please let us know if you have an agency or provider you would suggest we profile. You will see some of the best with links to all their websites, their philosophy and history, as well as what makes them special. This is all in keeping with our goal of having the hottest industry companies and the top thought leaders in in the pages of every issue of HS&M. Our goal is to constantly expand the value we bring to you.

If you would like to be featured, or have an agency or provider to recommend, please reach out to our Associate Publisher, Natalie Newcamp, at nnewcamp@hsandm.com.

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AGENCY & PROVIDER DIRECTORY March/April 2019

57 | HS&M MARCH/APRIL 2019

AGENCY & PROVIDER DIRECTORY

Company Overview: McCann Managed Markets is a strategic health care communications agency specializing in managed care marketing. We develop customized solutions across the managed markets value chain for a range of customer segments, including payers, health systems, organized provider groups, employers, pharmacists, office staff, and patients. Guided by our expertise in strategy, launch execution, and innovative solutions, we are well equipped to help clients navigate the complex and evolving managed markets landscape. As an integrated part of McCann Health, a global network of companies across 6 continents, we work on multiple cross-portfolio deliverables for our clients. Address: 49 Bloomfield Avenue Mountain Lakes, NJ 07046 600 Battery Street San Francisco, CA 94111 Phone Number: 973-917-6623 Website: www.mccannmanagedmarkets.com

Leadership: Kim Wishnow-Per President New Business Contact: Roshan Rahnama roshan.rahnama@mccann.com 862-777-0742 Year Founded: 2002 Number of People: 66 Parent Company: The Interpublic Group Awards: 2016 Healthcare Network of the Year—Lions Health 2017 Healthcare Network of the Year—Lions Health 2018 Med Ad News Best Managed Markets Campaign Areas of Expertise: Market access, above-brand solutions, patient access and reimbursement, pharmacy, and integrated pull-through. What’s New: We have an additional office in California Brand/initiative wins: 12

Social Media: www.facebook.com/McCannManagedMarkets/www. linkedin.com/company/mccann-managed-markets/ www.instagram.com/mccannmanagedmarkets/

HS&M MARCH/APRIL 2019 | 58

AGENCY & PROVIDER DIRECTORY

Company Overview: By looking beyond the status quo, MedThink Communications partners with clients to overcome challenges and grow brands. We influence physician behavior through a pioneering approach, Performance-Driven Medical Education, that harmonizes medical education and promotion to accelerate learning, enhance brand value, and earn physician trust. Address: 1001 Winstead Drive, Suite 100 Cary, NC 27513 Phone Number: 919.786.4918 Website: https://www.medthink.com/ Social Media: www.linkedin.com/company/medthink-incwww.twitter.com/medthink www.facebook.com/MedThink Leadership: Scott Goudy – President John Kane – VP, Managing Director Angie Miller – SVP, Client Partnerships Ken Truman – VP, Insights and Connections Steve Palmisano – SVP, General Manager New Business Contact: Angie Miller (SVP, Client Partnerships) amiller@medthink.com 919-926-3602 Parent Company: MedThink, Inc. Year Founded: 2004 Number of People: 86 59 | HS&M MARCH/APRIL 2019

Service Focus: Insights and Strategy, Promotional Medical Education, Disease State Education, Promotion/ Advertising, Metrics and ROI Awards: Davey Awards W3 Awards Addy Awards Communicator Awards Rx Club Awards Manny Awards MM&M Top 100 Agencies PM360 ELITE Areas of Expertise: Brand Strategy and Positioning; Scientific Message Platforms and Narratives; DSE and Brand Campaigns; Promotional Medical Education Programs; Advisory Boards; Digital Initiatives; Media Planning; and Data Science/Analytics What’s New: SHIFT THE CURRENT MedThink taps into a deep understanding of the needs and wants of your audience. We create thought-provoking and informative communications by applying adult-learning principles and emotional design to educational and promotional programs. The resulting strategies work to drive a fundamental shift in audience behavior—we call this Performance-Driven Medical Education™. This cohesive approach is the future of our industry, and MedThink is proudly at the forefront. Are you ready to tackle your current challenge? We want to hear from you.

AGENCY & PROVIDER DIRECTORY

Company Overview: There are hundreds of thousands of physicians on LinkedIn, Facebook, Instagram and Twitter. As a successful Medical Device Sales Representative of 8 years, the CEO of MTM knows first hand how challenging it can be to get your product in front of your target physicians. With social media, we can put your product in front of thousands of people in your target audience daily with each sponsored campaign. MTM delivers sales leads to their medical device clients every day, all generated from social media content and strategy. Address: 3056 N. Oakley Chicago, IL 60618 Phone Number: 800-762-6361

Website: https://medicaltechnologymarketing.com/ Social Media: Instagram: www.instagram.com/medicaltechnologymarketing/ Facebook: www.facebook.com/medicaltechnologymarketing/ Twitter: twitter.com/medtechmark LinkedIn: www.linkedin.com/company/medicaltechnologyma rketing/?viewAsMember=true Leadership: Jenna M. Griffin, CEO New Business Contact: Jenna Griffin jgriffin@medicaltechnologymarketing.com 800-762-6361 Year Founded: 2018 Service Focus: Social Media Marketing for Medical Device and Pharmaceutical Companies Areas of Expertise: Social media marketing for medical companies, running social campaigns to ensure your target audience sees your product when they log on to their social media accounts, delivering daily physician leads to medical companies.

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AGENCY & PROVIDER DIRECTORY

Company Overview: We connect pharmaceutical brands to the right consumers from the moment they begin their search for health options in our premier network of pharmacies and continuing to do so wherever their healthcare path may take them. Rx EDGE Media Network is a leader in the healthcare marketing industry with over 18 years of experience delivering hundreds of successful campaigns for pharma brands. Even as media consumption becomes increasingly dispersed, the pharmacy exists as the single mostoften visited healthcare destination in the lives of Americans, and combined with digital technologies, it produces an exceptionally broad reach. Address: 111 Water Street East Dundee, IL 60118 Phone Number: 800.783.7171 Website: www.rxedge.com Social Media: LinkedIn: https://www.linkedin.com/company/ leveragepoint-media/ Twitter: @RxEDGE Leadership: Nate Lucht, President and CEO nathan.lucht@leveragepointmedia.com New Business Contact: Michael Byrnes, EVP Sales Michael.byrnes@rxedge.com 610.431.7606 Year Founded: 2000 Parent Company: LeveragePoint Media | LLC 61 | HS&M MARCH/APRIL 2019

Awards: PM360 Trailblazer Awards PM360 Elite Awards DTC Perspectives Advertising Awards PM360 Pharma Choice Awards Service Focus: Rx EDGE Media Displays: Through our prominent, strategically-placed displayed delivered in a network of 27,000+ retail pharmacies, we help pharmaceutical brands motivate consumers at the most relevant times…when they are actively searching for ways to take care of themselves. Our Media Displays enlighten, engage, and inform. Rx EDGE Unlimited™: This cross-channel solution combines the power of our brick-and-mortar network with premium digital inventory and advanced analytics to bring pharma brands and audiences together. Rx EDGE Unlimited delivers exceptional reach, frequency, and influence. Insight EDGE™: A suite of data resources that the Rx EDGE analytics team applies to every program to ensure that pharma brand messages are seen by the right consumer. Areas of Expertise: We Maximize Impact: Rx EDGE is the only targeted media platform that uses the pharmacy as a consumer’s gateway to immediate information as well as ongoing connections to the pharma brands that are relevant to their healthcare needs. Brands that use Rx EDGE programs see an average script lift of 12.5%. We Align the Right People, Places, and Times: Through our relationships with key retailers, we can access data not commonly available through other marketing service providers − making our Insight EDGE™ targeting platform unique in the pharma marketing space. We Offer Proven Results: Measurement defines the core value we bring to every initiative. Using thirdparty analytics, results are evaluated with a significant level of precision. In addition to a lift in prescription volume, our programs also result in an average return on investment of $8.12. What’s New: Rx EDGE Unlimited™ is a new cross-channel approach that combines Media Display, mobile, and programmatic digital ad placement to boost campaign effectiveness.

AGENCY & PROVIDER DIRECTORY

Company Overview: Spotburner is a National Digital Content Company that produces high quality Professional Video, Professional Photography, Post Production, Animation and Live Stream Video . The company has a creative shop in Agoura Hills, California a production team in Philadelphia, and a High-Tech Content Studio in Burbank. Spotburner’s goal is to produce the highest quality content by collaborating with talented people and the latest technology. Spotburner is truly a one-stop-shop for production & digital services from storyboarding through deliverables. Founded by Bob Bekian, who has produced and directed over 800 content projects himself, Spotburner has a growing body of work that is making an impact for clients including Amgen, Menchie’s and Acura. Spotburner works with agencies as a white-label production resource and provides direct-to-client content services with a professional team of great people and the latest technology. Address: 5234 Chesebro Rd. Suite 100 Agoura Hills, CA

Website: Spotburner.com Social Media: https://www.linkedin.com/company/spotburner https://www.facebook.com/spotburnercom Leadership: Bob Bekian – Founder/Co-CEO (818) 399-9499 Dave McGee – Co-CEO New Business Contact: Sam Stark (818) 852-7004 x208 Year Founded : 2014 Number of People: 45 Service Focus: Video Production Areas of Expertise: Complete Video Production What’s New: Live Streaming Video 360° Video

Phone Number: (818) 852-7004

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AGENCY & PROVIDER DIRECTORY

New Business Contact: Jeff Asada jasada@viscira.com 415-848-8012 Year Founded : 2007 Number of People: 120 Company Overview: Viscira is an innovative, full-service digital marketing and technology firm. We are all things digital with an exclusive focus on the life sciences industry. We are Digital for Life. The Company’s key digital solutions include 3D MOD and MOA animations, advanced iPad® and mobile applications, disease education and product websites, interactive tradeshow solutions, and virtual and augmented reality experiences. Viscira has been a Veeva partner since 2012, and maintains an agency certification Level 4. Address: 200 Vallejo Street San Francisco, CA 94111 Phone Number: 415-848-8010 Website: www.viscira.com Social Media: https://www.facebook.com/Viscira/ https://www.linkedin.com/company/viscira/ Leadership: Rick Barker – CEO Jeff Asada – Chief Revenue Officer Kimberly Davis Wells – VP of Client Services Shan Jaffar – VP of Production Kane Kaneboughazian – VP of Animation Suntae Kim – VP of Software Development

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Service Focus: Specialized Digital Marketing Agency for Life Sciences Parent Company: WPP Awards: Communicator Awards Telly Awards PM360 Trailblazers Awards Davey Awards Rx Club Awards Areas of Expertise: Advanced iPad®and mobile app development, next-generation web development, cutting-edge digital content creation, including the company’s highly acclaimed 3D animation technology, newmedia convention booth solutions, augmented reality, virtual reality, patient video testimonials, enhanced slide decks What’s New: Viscira has established itself as a thought leader in using XR technologies to offer unique experiences for patients, caregivers and healthcare providers. The company recently participated in the SF Design Week, and hosted a panel discussion which focused on the opportunities and challenges of storytelling in augmented reality. Viscira continues to push the envelope in technology by exploring new mediums and hardware platforms like Oculus Go, HoloLens, Leap and MergeCube.

March / April 2019

Articles inside

Motivideos: To Use In Your Meetings

Boston Scientific, Abbott and more: The Prix Galien MedTech Award Winners

UVision360 CEO Allison London Brown on Successful Entrepreneurship in Healthcare

Industry Trends: By The Numbers

Editorial Board

Editor’s Letter

2019 Biotech Outlook