Thoughts on picking well McGovern Center November 8, 2013.

Thoughts on picking well

McGovern CenterNovember 8, 2013

Build a better mousetrap and the world will beat a path to your door - Emerson

Salesmanship is limitless. Our very living is selling. We are all salespeople - Penney

The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself -Drucker

How much difference in performance is needed to cause a change in ‘buying’ behavior?◦ Many believe the answer is about 20%

Porter, FDA◦ Depends significantly on the value of the change

Function of where technology is: incremental vs. fundamental improvement 20 Megapixels vs. 18 Disease cure? 6 more weeks of overall survival but at what cost?

◦ Calculation – avoided costs, patient QoL/longevity

Power of status quo: [mastectomies vs. lumpectomies]

Medicine is unique in that companies develop temporary virtual monopolies in cures for diseases without alternatives [Herceptin, metal staples for surgery]◦ Inevitably competition finds way of encroaching

Laparoscopic surgery took a decade to get to 25% or procedures despite clear advantages

Differentiation or amount of improvement

Requ

irem

ent t

o ch

ange

to u

se

Improved pill

Lap surgery

Robotic surgery

Smart phones

Google+ vs. FB

Oral vs. IV

Drug cocktails

Personalized medicine

Companion diagnostics

Ivan L. WolffSyzygy Therapeutics

[email protected] http://syzygytherapeutics.com/