While the grand party in direct-to-consumer (DTC) advertising may have peaked about 5 years ago, it remains an important method of marketing drugs. The industry last year spent $2.4 billion on television ads, according to Nielsen. That is a 23% drop from the $3.1 billion spent in 2007. Click here to view the full report >>
For generics makers, Big Pharma's patent cliff is more like a mountain. With preparation and drive and some luck, companies that specialize in copycat drugs can climb from one newly off-patent blockbuster to another, adding millions in sales along the way. Plus, branded drugmakers have been diversifying to make up for plummeting sales of their no-longer-exclusive megadrugs. Sometimes, that means joining hands with their generics-making rivals, often to take advantage of their low-cost production and broad access to markets in the developing world. That's a double dose of growth serum for generics makers.
FiercePharma will honor the day by taking a break. We'll be back Thursday with more from the world of drugs and drugmaking.
Last week, when we unveiled our Top 10 Pharma Settlements report, we promised to update it as new deals hit the news. We didn't realize we'd need to fulfill that promise so quickly. Today, GlaxoSmithKline officially announced its $3 billion settlement, which puts it squarely on top of that list.
The Justice Department is growing more and more impatient. For more than a decade, its lawyers and investigators have been slapping drugmakers around for their marketing misdoings. They've insisted on bigger and bigger penalties, especially during the last several years, with payments commonly topping $500 million. And yet the whistleblower lawsuits and off-label settlements keep coming.
With drugmakers flocking to lucrative drug markets for specialty care drugs, the bar has risen to get reimbursement and physician uptake of the expensive products. But there are ways to hedge bets in the specialty care game. We covered several such strategies during a panel I moderated at the 2012 BIO International Convention called "Are Healthcare Reimbursement Policies a Barrier to Specialty Care Treatment?" The easy answer to this question is "yes."
The FiercePharma team will be relocating to Boston next week for the BIO 2012 International Convention. We are bringing a team of 15 to the show and we'll have daily coverage of the week's events.
It's an all-too-familiar frustration for pharma shareholders. On the heels of declining revenues and mismanagement, a CEO departs, and then comes the golden handshake.
To know that specialized, targeted drugs are pharma's current rallying cry, you didn't have to follow the news out of this month's big cancer meeting. But it's the latest example of how drugmakers are using knowledge of cancer's genetic drivers to develop new treatments.