The brief

Precision Medicine Group is the parent company for two drug development businesses—Precision for Medicine and what was previously Precision Value & Health.

Precision for Medicine deals with the clinical development aspects of bringing a new treatment to market, while PVH comprised a variety of companies dealing with various aspects of the commercialization process. As a separate entity, Precision for Medicine was keeping its name, while PVH came to us, seeking a new name aligned with its new strategy. 

The US part of the business wanted to rename PVH as “Precision Access” but there were concerns that this was potentially misleading and told too narrow a story, let alone one that was not at all relevant in other global markets.  

The process

The first big question was whether to keep “Precision” at all. In our research phase we determined that significant equity remained in the name for key target audiences, with interviewees making connections between their associations and concepts related to precision.  There also appeared to be a positive “halo” effect between the three “Precision”-named entities.

We determined that Precision + [new name] should be the formula. How could we signal access without saying it? How could we create a name that also resonated with what made PVH so compelling as a proposition for customers? The question went round and round in our heads like a riddle, until we hit on an ingenious solution.

The final name

Precision AQ is a name with many stories to tell. Globally, it’s IQ + EQ = AQ. In other words, the experts comprising Precision AQ bring together the best data and technology with human understanding and emotional intelligence. In an increasingly depersonalized, digitized world, this makes all the difference. 

In markets such as the US, AQ also signals “Access Quotient” – the company’s pledge to hold itself to account on expanding access to life-changing medications. We also suggested the highly campaignable idea of making the Access Quotient a figure with its own formula like an index, one that the company could forever own and be associated with.