Do drugs have personalities? Well, according to a new study, consumers think they do. And the way consumers perceive a drug's personality offers some clues for shaping those perceptions.
Brace yourselves for the Teva Pharmaceutical Industries marketing blitz. The company won FDA approval Tuesday evening for its new, three-times-a-week Copaxone, and Teva needs to convert as many patients as possible to the new version before the original goes off patent in May.
Bristol-Myers Squibb says its Eliquis DTC campaign is doing its part to help get sales where the company wants them. Revenues for the anticoagulant may not be where many analysts expected they'd be when they talked the drug up as a future $3-billion-a-year blockbuster. But they are on the rise--thanks, in part, to the campaign, launched in September. And BMS says it's not stopping there.
As more and more sleep drugs hit the market, the customer pool is expanding, too. New data from the CDC says prescriptions for sleep drugs have tripled over the last 20 years--with older people recording the highest rate of use.
So, do drug companies really spend more money on marketing than on R&D? In the Pipeline takes a look at that contention, and the cold hard facts are these: Probably not. But it's hard to tell for sure.
The bad news for prime-time television and consumer magazines: Pharma's direct-to-consumer advertising dropped by 11.5% last year, to $3.47 billion. The even worse news for digital venues: DTC spend fell by 33%.
The more things change, the more they stay the same. According to a new study from Johns Hopkins, that old adage applies to drug marketing.
At just under $2 billion a year in sales, the testosterone replacement drug business is small by industry standards, but it is growing as the population ages and sophisticated marketing ramps up.
While Big Pharma has mastered the art of direct-to-consumer television advertising, and even turned out some pretty impressive websites, when it comes to getting to consumers on their now ubiquitous smartphones, they rate poorly.
Eli Lilly ($LLY) has overtaken Pfizer ($PFE) in the pharma advertising steeplechase. Cegedim Strategic Data reports that Lilly's spending on direct-to-consumer advertising surpassed Pfizer's in April. And that's a big change. Pfizer has been DTC's big spender for some time.