Why Big Pharma is betting on telehealth strategies

Published On Sep 6, 2024, 4:52 PM

Big pharmaceutical companies, particularly Eli Lilly and Pfizer, are increasingly adopting direct-to-consumer (DTC) telehealth strategies. Eli Lilly aims to combat unauthorized competitors of its GLP-1 medications by providing telehealth services for conditions like obesity and diabetes through its LillyDirect platform. Meanwhile, Pfizer seeks to leverage its COVID-19 vaccine recognition to boost sales in other areas via its PfizerForAll telehealth service. This new model allows companies to create a loyal customer base by enhancing patient experiences and gaining valuable consumer data, ultimately driving adherence to medications. Although challenges remain, experts believe this approach may reshape the pharmaceutical industry's landscape, particularly regarding prescription distribution and pricing.

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Stock Forecasts

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Positive

The move by Eli Lilly and Pfizer towards direct-to-consumer telehealth platforms showcases their adaptive strategies in response to changing consumer behaviors in healthcare. If successful, these platforms are expected to drive higher drug adherence and sales, signaling potential growth in their respective stocks. Initial consumer surveys indicate positive experiences associated with these new services, enhancing brand loyalty and market position.

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Positive

Given the persistent competition from unauthorized imitation products, Lilly's strategy could lead to stronger market protection and improved margins over time. As the online consumer engagement with healthcare products increases, this could translate into long-term financial gains for Lilly, despite current exploration limitations.

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