According to new figures from Nielsen, spending on television advertising fell 23 percent to $2.4 billion from the beginning of 2007 to the end of last year. Spending in 2011 dropped 2 percent from 2010, and last year was the fourth consecutive year that such spending fell. Drug companies in the United States spent more than $3.1 billion on advertising pharmaceuticals on television in 2007, Nielsen said.
A treatment for Alzheimer’s disease is the drug industry’s longest shot, and any brave investors willing to place a bet on the outcome are likely to focus on Eli Lilly & Co.
Lilly and Pfizer Inc are the farthest along in developing experimental medicines for the memory-robbing disease. But Lilly, as the far smaller company, has much more upside for its share price if it hits pay dirt.
A Surescripts analysis suggests that the increase in first-fill medication adherence combined with other e-prescribing benefits could, over the next 10 years, lead to between $140 billion and $240 billion in health care savings and improved health outcomes.
The data showed a consistent 10 percent increase in patient first-fill medication adherence (i.e., new prescriptions that were picked up by the patient) among physicians who adopted e-prescribing technology when compared with physicians who did not use e-prescribing. Physicians who adopted e-prescribing used the technology to route up to 40 percent of their prescriptions electronically during the time of the study, and Surescripts estimates that first-fill medication adherence rates will continue to improve as e-prescribing adoption and usage increase.
Family medicine docs and internists – were asked about their views on prescribing lower-cost copycat meds, in general. Not surprisingly, 64 percent reported they were somewhat likely to switch to a generic within six months of availability. And 82 percent would do so within the first nine months.
At the same time, though, 65 percent reported that they have experienced a failure with a generic equivalent where the brand-name drug was successful. And 94 percent reported that their own patients had indicated a generic did not work as well as the branded drug they were taking previously, according to DoctorDirectory, a firm that specializes in brand-name marketing.
The news that Dendreon is under new management should cheer investors and help lay the groundwork for figuring out how to best sell the company’s groundbreaking prostate cancer treatment, Provenge, which aims to harness the immune system to fight tumors.
The move signals a recognition that Dendreon may need to make significant changes in its strategy for marketing Provenge, a treatment that involves removing a patient’s immune cells from the blood, treating them, and re-injecting them in a costly, $93,000 procedure.
The world’s major pharmaceutical companies joined forces with governments and leading global health organizations Monday to donate drugs and scientific know-how to help control or wipe out 10 neglected tropical diseases by 2020. In a project expected to affect the lives of a billion people worldwide, the partnership pledged more than $785 million to support NTD research and development (R&D) and strengthen drug distribution and treatment programs.
Opt Ed: Is Big Pharma an oxymoron now ?
The news this weel that AZ is going to lay off 7,300 people worldwide should not be a shock to anyone within an industry loosing patent protection on some big selling drugs. Yet there are irresponsible journalists who still feel that drug companies don’t have a right to make a profit with expensive drugs.
To really understand what’s happening you have to understand that the medical community is learning more everyday what causes certain diseases and how to fight them. The key challenge is that it costs a lot of money to develop micro compounds that can attack disease like cancer. This money is being used in R&D even before drug applications get submitted for approval but unfortunately the patent clock continues to tick while drugs are in development.
This blogger has called on the government to grant patent protection once a drug is approved by the FDA not when work is still in progress. By doing this drug companies will have time to recoup their investments and drug prices could be lower as a result.
The other challenge is that pharma companies have to learn to be faster and better at what they do. This means smaller companies that can react to opportunities within the market but it also means that pharma cannot continue to layoff people when a drug comes off patent. That is going to lead to a substantial drain of talent at a time when pharma needs innovators and Linchpins.