Staying Ahead of the Game: The Critical Role of Newsletters in Competitor Tracking for the Pharma Industry

The pharmaceutical industry is one of the ever growing and most evolving industry. The reason why it is difficult to catch hold or any update is because our industry has many moving parts such as HCPs, patients, regulatory bodies, PBMs (only in few geographies), payers, providers, insurances and then we have different therapy areas such as Oncology, Autoimmune, Neurology, Nephrology among others. Now we have AI, ML, blockchain and many more things to remember

Our industry evolves the way our cells adapt. Pharma is always updating and changing. A survey by McKinsey & Company found that 81% of executives believe that competitive intelligence is essential for their company's success, further emphasizing the importance of staying informed about industry developments and trends

So, how can someone stay ahead of its competition or just be informed about their competition in this every growing industry. A study by the American Press Institute found that reading news regularly can improve cognitive function and help information stay in memory for a longer duration. The study found that individuals who read the news regularly scored higher on tests measuring general knowledge and cognitive ability compared to those who did not read the news regularly.

In my view Newsletters and news alert are one of the best sources to provide regular updates on industry news, regulatory changes, new product launches, and other key developments that can impact a company's business operations. A survey by Deloitte found that 91% of life sciences and healthcare companies use newsletters as a source of competitive intelligence

In addition to providing a holistic view of the market, newsletters, and news alert can also help companies identify potential risks and threats to their business. By monitoring competitor activities, regulatory changes, and market trends, companies can anticipate potential challenges and adjust their strategies accordingly. This can help minimize risks and enable companies to capitalize on emerging opportunities before their competitors.

Furthermore, newsletters, and news alerts are valuable for tracking and analyzing specific competitors. By monitoring the activities of key competitors, companies can identify their strengths and weaknesses, as well as their strategies for success. This information can inform a company's own strategy by highlighting areas where it may need to improve its offerings or invest in new research and development.

In summary, newsletters, and news alerts are essential tools for competitive intelligence in the pharmaceutical industry. By regularly monitoring and analyzing industry news, companies can stay ahead of the curve and position themselves for long-term success in a highly competitive and rapidly changing industry.

Some of the newsletters which I have subscribed to are (in order of preference)

1. PharmaShots (https://pharmashots.com/): Quick, summarized, well written
2. Clinical Trials Arena (https://www.clinicaltrialsarena.com/): Nice insights
3. FDA Newseltter & Alerts (https://www.fda.gov/news-events): FDA updates

Please feel free to add which newsletters you have subscribed. Would love to add them to my list as well

Sources:

1. McKinsey & Company, "Winning with Competitive Intelligence," https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/winning-with-competitive-intelligence
2. American Press Institute, "How Americans Get Their News," https://www.americanpressinstitute.org/publications/reports/survey-research/americans-news-habits-consumption-pathways/
3. Deloitte, "Life Sciences and Healthcare Industry Outlook," https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Life-Sciences-Health-Care/gx-lshc-lshc-industry-outlook.pdf.