Teva Pharmaceuticals, the world’s largest manufacturer of generic drugs in the world, is uniquely positioned to benefit from the impassioned debate on healthcare reform, prompted by the Obama Administration’s call for a government option for health insurance.
Teva occupies an interesting place in the healthcare industry. Prescription drugs are a central part of American healthcare. Millions of Americans rely on pharmeceuticals to keep them healthy and Teva can meet this need through producing generic prescriptions. As the costs of healthcare and drugs escalate at alarming rates, Teva produces drug generics much cheaper than name-brand drugs, thereby providing relief to consumers facing healthcare costs that rise much faster than wages.
Patients, doctors and health insurance companies are all clamoring for generics, realizing that affordable access to drugs is a key to providing quality healthcare to Americans. Obviously, Teva understands this and the company has creatively joined the country’s healthcare debate in a centrist role. By not aggressively taking a position on the Obama insurance plan, Teva can safely raise awareness for its company and its products, all while driving home its message that generic drugs are quality products at vastly lower prices than brand-name drugs.
Whatever the outcome of the national healthcare debate, Teva will win. Increased access to generics is pretty much universally agreed on by all stakeholders in the healthcare debate (besides its competitors). Through sponsoring events, like the upcoming Year of Affordable Healthcare Series in Chicago, a Twitter page and a series of online videos (though it could be more creative than ripping off the Mac vs. PC genre), Teva is playing this debate wisely.
They’ve put themselves in a win-win situation. While Congress will not agree on how to fix healthcare, they all realize it is too expensive and lacking coverage among large segments of Americans. If there’s one thing everyone can agree on, generic pharmeceuticals are beneficial for all. I would bet any legislative outcome to the healthcare issue will address even more access to generics.
The lesson here? Realize the opportunity and seize on it. Furthermore, through good messaging and non-partisian approach, Teva has put together a winning grassroots public affairs strategy. That serves as a nice compliment to its other public affairs function through the DC office and its PAC, focusing on federal policymakers.
My one suggestion for the Year of Affordable Healthcare is that it would really benefit from a blog. If this is a tour and debate featuring Teva executives and guest speakers, it would be interesting for people unable to make events, to see and hear what happens. Guest bloggers, reports and opinions could easily be integrated into a blog. It would also make this public affairs effort’s Twitter account more valuable.
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