Novartis AG (ADR) (NYSE:NVS) is quickly entering into an engagement with the use of digital technology. The idea is to enhance and increase interaction with healthcare professionals. The world in general is becoming a ‘stakeholder’ in the burgeoning growth of technology. In this regard, the pharma has created a virtual conference platform, Vivinda TV, which will be used to deliver on-demand medical content.
The platform was recently used to air full unedited content from the European Cancer Congress held in Amsterdam last month and it proved handy for continued medical education activities.
Vivinda TV Is Part Of Novartis’s Key Investment Plans: A Better Way To Relay Information
Many pharmaceutical companies have been seeking to change their methods of reaching healthcare professionals with the likes of GlaxoSmithKline plc (ADR)(NYSE:GSK) and Pfizer Inc. (NYSE:PFE) engaging in webinars. However, Novartis AG (ADR) (NYSE:NVS) has chosen to put its investment to use in a different way. Perhaps it has acknowledged the many limitations of traditional marketing activities.
The company’s CEO Joe Jiminez says, “Instead of bringing physicians to congresses the old way, we’re now bringing the congress to the physician, and we’re doing that through a device, a vehicle, that we call Vivinda TV. We’re finding that we can exponentially increase the number of physicians that we can bring this medical information to at a fraction of the cost.”
The platform is currently available in many countries apart from Japan, Norway, Canada, Sweden and the U.S.
Educational And Promotional Strategies
Many companies have taken steps towards incorporating education platforms into their operations. Virtual meetings and web-based customer interaction platforms have been embraced and more so within the medical community.
Conference attendance alone is however not satisfactory because only a small proportion of doctors show up. It is for this reason that Novartis AG (ADR) (NYSE:NVS) is actively seeking better and more inclusive ways of reaching out to a bigger number. It wants to engage the larger part of health professionals.
In the meantime, Novartis stock was trading at $75.43 witnessing an increase of $0.22 or 0.29%.
Note: This article is written by Andy Parker and originally published at Market Exclusive.