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Pharmaceutical marketing, sometimes called medico-marketing
Transcript of Pharmaceutical marketing, sometimes called medico-marketing
In 2012, the pharmaceutical industry spent more than $27 billion on drug promotion— more than $24 billion on marketing to physicians and over $3 billion on advertising to consumers (mainly through television commercials)
How Does the Pharmaceutical Industry Market its Drugs and How Much Does It Spend?
This marketing approach refers to face-to-face promotional activities directed toward physicians and pharmacy directors.
Providing free medication samples to physicians has been shown to cause significant increases in new prescriptions for the promoted drug.
Sales representatives invite doctors to meetings during which industry-paid physicians discuss the use of particular drugs. These speakers are often leaders in their fields, which increases the draw.
EDUCATIONAL AND PROMOTIONAL MEETINGS
Pharmaceutical companies send unsolicited promotional materials to most doctors’ offices. Typically, these brochures tout a drug’s benefits and positively describe the results of recent clinical trials, which are often funded by the same company.
JOURNAL AND WEB ADVERTISEMENTS
These advertisements are standard promotional techniques that provide an important source of revenue for medical journals. The accuracy of statements in such ads is regulated by the U.S. Food and Drug Administration, or FDA.
An investigation by ProPublica found that at least 21 doctors have been paid more than $500,000 for speeches and consulting by drugs manufacturers since 2009, with half of the top earners working in psychiatry, and about $2 billion in total paid to doctors for such services.
AstraZeneca, Johnson & Johnson and Eli Lilly have paid billions of dollars in federal settlements over allegations that they paid doctors to promote drugs for unapproved uses.