QUICK READ: Drug companies are telling salespeople to stay away from doctor’s offices and academic institutions are refusing entry to drug MSL’s because of the Coronavirus. Recommendations are being made to have all interactions with HCP’s online. Drug marketing, to HCP’s, is going to change forever.
- According to a study on Healthline, “consumers will then search the brand name and visit consumer brand pages to find unbiased information about the product they saw on TV.
- In fact, 42% will request the brand from their medical professional after seeing an online ad in conjunction with a TV ad, while only 22% will after seeing a TV ad alone.
- The study fails to take into account website visits in relation to frequency and reach.
- Drugs that have been advertised for long periods of time have a negative correlation between TV ads and the search for online health information.
QUICK READ: Many of the coronavirus stories getting shared the most on social media contain inaccurate information. While people flock online for updated information the effects of how they collect and use health information online could affect all DTC.
QUICK READ: The Federal Drug Administration’s Office of Prescription Drug Promotion (OPDP) on Wednesday issued the first warning letter specific to paid-search ads since 2014. The FDA said that the search results did not include any fair balance. This is an example of how out of date the FDA’s Office of Prescription Drug Promotion (OPDP) really is.
- Researchers writing in the Journal of the American Medical Association (JAMA) found that in the years between 2000 and 2018, 35 big drug companies received a combined revenue of $11.5 trillion, with a gross profit of $8.6 trillion.
- The median net income margin reported by 35 pharma companies between 2000 and 2018 was almost twice as high as it was for the 357 non-pharma companies in the S&P 500 investigated by the study’s authors—13.7 percent versus 7.7 percent.
- Meanwhile, GOP lawmakers are holding up a bipartisan emergency funding bill to provide treatment and research for coronavirus. The main reason? They object to a provision that prevents drug manufacturers from overcharging the government for any vaccines or other treatments.
QUICK READ: The Washington Posts said: “After years of avoiding social media, drug companies are growing bolder about advertising on Facebook and other social networks, according to interviews with advertising executives, marketers, health-care privacy researchers, and patient advocates”. But the key question of Facebook ad effectiveness remains.
KEY IDEA: Amarin feels that adding salespeople might be the answer to make Vascepa a blockbuster. They are also ramping up TV ads in support but will it make a difference?
QUICK READ: Healthcare costs are a key part of the upcoming election but misinformation spreads quickly as we are learning with the Coronavirus. Yes, some drug prices are high but drug prices are only $.10 of every healthcare dollar spent. DTC marketers can’t continue as before; changes need to be made.