Companies should certainly prepare for the possibility of a product recall–but  “no matter how prepared you are,  you will never be prepared enough.”  So said Lisa Adler, VP Corporate Communications at Millennium: The Takeda Oncology Company,  in moderating a panel  on “Communications During Product Recall.”    The panel, held on September 19,  was sponsored by the company and MassBio.

In her experience, Adler said, “things never go smoothly.  You need to anticipate that. ”

Panelists recommended that companies have a “war room” in which stakeholders–including  decisionmakers from legal, regulatory,  and other key departments– gather to approve everything that goes out.

Manisha Pai, Millennium’s PR director pointed out the importance of being prepared to use–and respond to– social media. “While you can’t get your entire message out in a 140-word Twitter message,”  she said, you can link it to more complete information on your home page.

[Boston Globe Reporter Rob Weisman and  thestreet.com ‘s Adam Feurstein both said that while they might follow a few companies on Twitter they consider such communiques “tips” or alerts” to follow up on, rather than news items in themselves.]

When Weisman asked fellow panelists whether companies’ communications efforts in recalls  are  meant to protect the company or the public,  Pai, of  Millennium responded, “It’s both. ”

As a consumer-focused company, she explained, “our reputation rests on our responsibility to consumers and on our role as a public citizen. We need to protect the public–and also the company. ”
Adler added that,  for Millennium, protecting the public comes first.

Feuerstein and  Arlene Weintraub,  Xconomy’s New York City bureau chief, both emphasized the importance of transparency–and telling the whole story as soon as possible.

Feuerstein said:  “Coverup is the biggest crime.”  It’s better to risk getting some negative press in the beginning if need be–because if you wait a few months to come forward,  the analysts “will nail you….You often can’t recover from that.”

Anita M. Harris, President
Harris Communications Group

HarrisCom Blog is a publication of the Harris Communications Group, an award-winning  public relations and marketing firm located inCambridge, MA.  We also publish New Cambridge Observer. 

Advertisements

In a new blog post entitled Pharma in 2011: A Year for Big Decisions, Scientia Advisors Managing Partner Harry Glorikian (who is my client) writes that most pharma firms’ current approaches for playing in new fields are likely to fail—and makes a number of  industry predictions for the coming year.
With several major products going off –patent, and with regulatory and policy changes in the works, Glorikian writes, many large pharma companies must rethink  their current business models in order to succeed on new playing fields. 

In the coming year, pharma can expect:

  • Little growth for big caps and fewer big cap company mergers
· Need for cash generation leading to divestment of  developmental assets
  • Increased focus on therapeutics for niche and orphan diseases
  • Accelerated  need for prescription/diagnostics combinations, leading to partnerships or acquisitions.


“In our view, most pharma firms’ current approaches for playing in new fields will not succeed—and companies have many difficult decisions to make,” Glorikian writes. “A big question is whether, in making those decisions, they will try to satisfy shareholders’ immediate needs or ensure long-term company health.”

Here’s a link to the complete blog:  Pharma in 2011: A Year for Big Decisions

–Anita M. Harris

Scientia Advisors, based in Boston and San Francisco,  is a management consulting firm specializing in growth strategies for major and emerging companies in health care, life science, biotechnology and nutrition. Scientia recently launched a practice  Pricing and Reimbursement/Market Access .

Anita Harris is president of the  Harris Communications Group— an award-winning marketing and public relations  firm in Cambridge, MA. HarrisCom also publishes New Cambridge Observer, a blog covering arts, sciences, business, politics and life in and around Cambridge, MA.

%d bloggers like this: