tag:blogger.com,1999:blog-8550428.post8569974723742985165..comments2024-03-10T05:12:12.373-04:00Comments on Pharma Marketing Blog: New Pharma Business Model: Prizes, Not Patents, for Innovative DrugsVladhttp://www.blogger.com/profile/04114063498108633047noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8550428.post-2318146254123892372012-08-14T12:11:24.329-04:002012-08-14T12:11:24.329-04:00Roy,
I know from IMS that sales of Rx drugs in th...Roy,<br /><br />I know from IMS that sales of Rx drugs in the US is about $300 per year. 4.2% of that is $12.6 billion. I also know that that number does not makes sense because the industry spends about $4 billion per year on measured media DTC spending (broadcast TV, radio, print), about $12 billion per year marketing to physicians (excluding value of samples) and about $2 billion on search and Internet marketing. IMS also estimates the value of samples to be around $15 billion per year - others estimate it around $7 billion. Adding all those up (using the lower value of samples) you get $33 billion total yearly expenditure for advertising/marketing/sales support. That's 11% of $300 billion (in sales), which is closer to the dolls and stuffed toys/food industry ratios.PharmaGuyhttps://www.blogger.com/profile/10211557578124130640noreply@blogger.comtag:blogger.com,1999:blog-8550428.post-10811098301688114402012-08-14T11:51:34.849-04:002012-08-14T11:51:34.849-04:00Good article. While the 4.2% figure appear to be a...Good article. While the 4.2% figure appear to be a low number for pharma companies, I am wondering what makes them attain such overall high sales volume even after spending such low dollars on advertising? <br /><br />What do you think the pharma companies are doing to push and sell their products with such low advertising expenditure? Roy Morganhttps://www.blogger.com/profile/17959396966660892480noreply@blogger.com