Special Report on
Marketing and Advertising of Pharmaceuticals
Marketing and Advertising of Pharmaceuticals - Trends
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An Astra-Zeneca advertisement for its cholesterol-fighting drug shows a trim woman jogging down a street. "She took medication. She ate right. And ran. Yet it wasn't enough." Her doctor advises her to switch to Crestor. In 2004, Astra-Zeneca spent $216 million promoting Crestor, almost matching the $212 million spent on Pepsi for that year (Huh and Langteau, 2007). The greatest amount of advertising money spent on pharmaceuticals in 2005 was for 10 drugs in the following seven categories: 1) heartburn, 2) insomnia, 3) cholesterol, 4) asthma and allergy, 5) nail fungus, 6) blood clots and 7) erectile dysfunction ...
As a result of changes in regulation in the late 1990s, spending on direct-to-consumer advertising of pharmaceutical drugs in the US leapt from $150 million in 1993 to $4.24 billion in 2005. This column examines the effect on demand, finding that broadcast advertising was responsible for 18% of the overall increase in prescription drug expenditures in the US during the period. Direct-to-consumer advertising (DTCA) by pharmaceutical companies has always been somewhat controversial, with the US and New Zealand being the only two developed countries that allow such promotion. ... Read More
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Charlie Rose - Rick Wagoner, Chairman and CEO of General Motors