Mike Rea has worked in global pharma strategy for over 25 years, working with the world’s top 30 pharmaceutical companies. Regarded as an industry thought leader in innovation, Mike helped lead the strategic direction of over 100 pharmaceutical brands, and created the industry standard annual Productive Innovation Index, a ranking of top 30 pharma by their ability to launch innovation.
Mike’s passion for industry change has inspired those around him, and IDEA Pharma’s clients, to think differently, to challenge the status quo and achieve strategic excellence. Under Mike’s guidance, IDEA has supported over 3 in 4 of ‘blockbuster contenders’ in industry pipelines (cited by FiercePharma), positioned the top 2 launches of 2015, and over half of the 50 fastest growing drugs in the 2010-15 window.
Individually, Mike has been:
Named as one of the 100 Most Inspiring People in Healthcare in 2011, 2013 and 2015, and was presented the Red Jacket Lifetime Achievement award in 2016 (PharmaVoice)
Voted one of Top 10 Innovators in Pharma (PharmaPhorum)
Acknowledged as the industry’s leading expert in early-phase Positioning, and has successfully positioned some of the world’s leading pharmaceutical products
Is leading the development of an industry Code of Ethics
Outside work, Mike owns an independent record label (Medical Records), organises the street food/ food truck festival MXMK, and cycles really slowly…
00:00 Using ‘Innovation’ incorrectly.
01:45 Why the textbook definition of Innovation matters within Healthcare.
02:30 “No Medicine is less useful than one that doesn’t make it to Patients.”
03:00 True Pharma Innovations that Mike is most excited about.
04:35 Mike explains what Med-Tech Devices are.
07:00 How EEGs are improving Healthcare.
08:30 Explaining ‘Electroceuticals’.
09:20 Explaining ‘Interventional AI’.
12:00 Finding funding and looking at profit realistically within Pharma Innovation.
16:20 “Creating Value based on other means.”
18:00 “There are so many different ways we could begin to think of different business relationships with our customers.”
21:45 How Payers fit into Care Pathways.
24:00 Why Pharma should be thinking about Innovation.
29:00 “For every assest is there a faster way to do this? Is there a bigger way to do this?”
31:00 You can find out more information at ideapharma.com or @ideapharma on twitter.