A new analysis conducted by Forbes puts grim numbers on new drug development costs. A company hoping to get a single drug to market can expect to have spent $350 million before the medicine is available for sale. In part because so many drugs fail, large pharmaceutical companies that are working on dozens of drug projects at once spend $5 billion per new medicine. Some caveats, though: drug companies have tax incentives to count costs in research and development, which could inflate the figure; they also are likely to spend extra money in order to get those medicines approved in other countries.
According to Kantar Media’s annual physical segments 60% of patients had a physical last year. The problem is that this statistic varies widely by age group and income. We also have to remember that some people believe they had a physical last year when in fact it has been several years since their last physical.
So you spent a lot of time and money getting your target audience to ask for your medication and get an Rx, but that may not be enough. Some insurers want to talk to the prescribing physician to ensure that they have tried generic medications first and to understand why the physiciam is prescribing a branded medication. DTC marketrs need to understand the potential barracades for patients seeking branded prescription drugs.
I hope readers to this blog never ever have to go into the hospital for treatment of a serious injury, but if you do have an Internet connection so you can research treatment options and be ready to spend significant time battling the forces that control healthcare to get what you want.On July 1st I had a bicycle accident that resulted in a dislocated shoulder and broken humerus. Even though I spent 3.5 days at one of the best hospitals in the country, Mass General, I still find myself trying to understand the extent of my injury.
I recently returned from vacation and was able to go off the grid but not completely. The grid is the tangled web of the multiscreen universe that we all live in. The closest I came to going off the grid was going without TV for an entire 4 days. So basically, going off the grid in this case was eliminating one screen –but was I really off the grid? I was still Facebooking (especially after Sir Paul McCartney waved hello), Tweeting and LinkingIn on my smartphone and tablet. A guest post by Adam Scott Roberts, Senior Vice President, Group Media Director, Communications Media Inc
As I was setting up my new office I came across a framed copy of an article that appeared in Business Week about the website that developed for the launch of Cialis. While I am extremely proud of this accomplishment I also realize that I wouldn’t have been able to provide a great online brand experience without the right tools including managers who allowed me to lead the way into a ver competitive market. Perhaps the biggest frustration of ePharma people is not having the support team in place to allow them to do what they do best.