Merck’s Customer-Centric Approach Drives Critical Managed Markets Success Despite Obstacles, Cognet-X Reports
FEASTERVILLE, PA (Nov. 29, 2006) – Despite generic intrusion into one of its biggest markets, global restructuring and much publicized Vioxx-related lawsuits, Merck & Co.’s strong customer relationships and support propelled the company into the top 3 pharmaceutical/biotech companies that best met the overall needs of influential managed care decision makers, according to Cognet-X’s PAR-Rx (Promotional Assessment Research) Report ™.
Merck placed second, behind top-ranked Novartis and ahead of GlaxoSmithKline during the 3Q 06 audit cycle. The audit panel is comprised of leading managed care pharmacy executives who have direct influence over which drugs are reimbursed by health plans for millions of Americans. Merck & Co. last placed among the leading companies in this category in 2004.
Panelists cited Merck’s contracting practices and willingness to partner with health plans as positives. However, the excellence of the company’s account management personnel differentiated Merck from most of its competitors. Panelists’ comments included:
“Quality contracting, especially with the Zocor product and the introduction of generic simvastatin.”
“Came up with unique contract offer to preserve product use post generic availability at savings to health plan.”
“Excellent educational resource; exciting new immunization products; superior account management.”
“The impact managed markets have on a brand’s bottom-line can’t be underscored enough,” said Sharon Bender, Executive Director of Strategic Initiatives. “Now more than ever, the nation’s leading investment analysts are paying closer attention to performance in this market and to the overall effect it has on a pharmaceutical company’s valuation.”
Rounding out the top 5 corporations during 3Q 06 overall needs category:
1. Novartis Pharmaceuticals Corp.
2. Merck & Co.
3. GlaxoSmithKline (tie)
3. Novo Nordisk Pharmaceuticals (tie)
4. AstraZeneca PLC
5. Johnson & Johnson
Johnson & Johnson’s dramatic improvement, up from 9th place position in 1Q 06 and 21st a year ago, was due in large part to the performance of two of its individual operating companies, Ortho Biotech and
Centocor.
About the PAR-Rx Report™
Cognet-X’s PAR-Rx Report is a quarterly service that provides pharmaceutical, biotech and Wall Street clients with timely, actionable competitive intelligence and analysis related to pharmaceutical/biotech company promotion to influential managed care pharmacy executives.
About Cognet-X
Cognet-X is a privately held, employee-owned healthcare
research, consulting and software development firm based in Bucks
County, PA. Our focus is on providing and developing
business intelligence solutions centered on the managed care marketplace for pharmaceutical
and biotechnology companies. For more information about the PAR-Rx Report™ or
other Cognet-X products and services, please contact:
Contacts
Rick Bourland
Executive Director, Sales & Marketing
215-396-8300, ext. 103
rickb@cognetx.com
Gayle Leahy
Sales & Marketing
215-396-8300, ext 121
gaylel@cognetx.com
