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.
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. In this FiercePharma special report on the top 10 advertising spends, we have included links to one television spot for each drug.
Overall, DTC spending has dropped in four of the last 5 years.
The DTC juggernaut is weakening. As The New York Times reports, industry spending on TV ads fell by 2% in 2011, the fourth consecutive year of decline. Altogether, TV spending is down 20% from 2007...
Puppies and beach houses may not be as distracting as the FDA feared. The agency had been studying presentations of risk information in direct-to-consumer advertising to determine how graphics, video...