CEO of Novartis shares a 30-Second MBA Insight (Fast Company)

Fast Company has an online series of short video segments titled "30 Second MBA"

In this clip, you'll hear Joe Jimenez, the CEO of Novartis share his insights:

Novartis to cut 383 jobs in the U.S.

Jobs in the pharma industry are not quite "stable" these days. Even with strong companies, we're seeing reductions in the pharma workforce. Jobs are being reduced and executives are looking for new positions. Novartis released a press release today that started with some good news:

Novartis healthcare portfolio generates strong growth in first quarter of 2010, progress on delivering innovation, growth and productivity

If you continue to read the press release, towards the bottom you'll see that they plan to reduce 383 jobs in headquarter-based functions:

In anticipation of changes to the product portfolio in the US, which includes expected approvals for a number of new specialty medicines but also the loss of market exclusivity for Diovan and other medicines in the next few years, Novartis has further streamlined its US business in Pharmaceuticals to maximize the potential of the changing portfolio in both primary care and specialty markets. This initiative, announced in April 2010, will create three national specialty businesses focused on multiple sclerosis, respiratory diseases and neuroscience to complement the existing Oncology business unit. In addition, a fourth business for primary care medicines, including the cardiovascular portfolio, will be consolidated into four regional units (reduction from the current five units). Approximately 383 full-time equivalent positions, primarily in headquarter-based functions, are to be reduced in a socially responsible manner, with 35% expected to be achieved by not filling vacant positions. A one-time charge of USD 24 million is planned to be taken in the second quarter of 2010, with annual cost savings of USD 56 million anticipated from 2011.

The pharmaceutical industry is going through some radical changes these days. As more pharmaceutical companies consider mergers and acquisitions, we'll certainly see more changes in the pharma job market.

Pharma and Twitter

We've started seeing more articles related to the topic of Twitter and the corporate world of Pharma/Biotech. Pharmavoice recently published an article titled, "What is the business case for Tweeting?" (to read the article, click here)

Is Twitter simply a cocktail party where you can mingle and exchange information with others? Or, is Twitter much more than that?

According to this article, 18 pharma companies were using Twitter as of last month. J&J (Johnson and Johnson) appears to be the most active, but you'll also see other large pharma companies such as: AstraZeneca, Novartis, GSK, Pfizer, Roche, Boehringer Ingelheim, Novo Nordisk, and several others.

So while we're on this topic of Twitter, let me throw out a few questions:

• Is Twitter simply another marketing tool in this new wave of social media?
• Will the FDA regulate how pharma uses Twitter to communicate with consumers and healthcare professionals?
  
• Is Twitter an effective way to communicate safety issues to healthcare professionals? (the FDA and CDC are using Twitter)
• Is Twitter a way for consumers to send messages directly to Pharma?
• Is Twitter a temporary fad, or is it here to stay?

I encourage you to explore social media and try using Twitter for a few weeks. You won't be impressed if you only try it for a few days. However, give it a few months and see what you think. You have to be willing to follow some people back and exchange ideas (imagine that you're at a social event).

You can start by following my Tweets here: http://twitter.com/DrJosephKim

Pfizer Oncology: Martine J. George, M.D., M.Sc

Pfizer announced the appointment of Martine J. George, M.D., M.Sc, to Vice President of Medical Affairs for its Oncology Business Unit. Dr. George received her M.Sc in Pharmacology from Montreal University and her M.D. from Paris University. Her industry experience includes companies like J&J, Ortho Biotech, Novartis, sanofi-aventis, and more.

Because the pharmaceutical industry is really an international business, there are opportunities even in the United States for foreign medical graduates (FMGs) / international medical graduates (IMGs). In order to climb the corporate ladder, you have to have strong business skills and excellent people skills. If you're an FMG or IMG interested in non-clinical opportunities, build your social network so that you can find the right types of opportunities.