Healthy Skepticism Library item: 503

Warning: This library includes all items relevant to health product marketing that we are aware of regardless of quality. Often we do not agree with all or part of the contents.

Publication type: news

Pharmaceutical Drug Marketing Budgets Surpass $500 Million, Studies Show
PRNewswire 2004 Aug 25

Full text:

Pharmaceutical brand and project managers risk their drugs’ futures if they do not win adequate funding and staffing support, according to pharmaceutical business intelligence firm Cutting Edge Information.
Companies back blockbuster drugs with as much as $500 million in marketing dollars, and they spend more than 20% of those budgets on early-stage (pre- clinical through Phase II) activities. Cutting Edge Information has published two industry reports detailing the marketing budgets, staffing, and activities of the industry’s top 10 firms:

“Early-Stage Pharmaceutical Marketing: Uniting R&D and Commercialization” is available at http://www.PharmaCommercialization.com and includes more than 250 metrics, early-stage commercial budgets, staffing, strategies and tactics from 14 top pharmaceutical companies including Pfizer, Merck, Aventis, and Eli Lilly. The report is a guide for marketing, market research, R&D, and project management executives to inject market focus into early drug development.
“Blockbuster Pharmaceutical Launches: Marketing Spend and Structure,” available at http://www.PharmaLaunch.com contains more than 250 metrics and features in-depth pharmaceutical marketing strategies, budgets and staffing levels to support blockbuster drug launches from top companies including Merck, AstraZeneca, Bayer, Wyeth and Roche.
Together, these reports present a complete picture of effective project management and commercial team structures. They include budgets and staffing levels for marketing and nearly a dozen other commercial support functions.

“With increasing pressure from generics, weaker pipelines, and more stringent regulatory hurdles, drug companies only have one shot. They have to get it right the first time,” said Jon Hess, senior analyst with Cutting Edge Information. “This means they must know what their competitors are doing now, what they will be doing in several years when their new drug reaches the market, and everything it will take to prepare the market for rapid sales uptake at launch.”

To download free summaries of these reports, visit http://www.PharmaCommercialization.com and http://www.PharmaLaunch.com . For more information on these reports or to learn about other Cutting Edge Information research, contact Jan Blanchette at jan_blanchette@cuttingedgeinfo.com or 919-433-0218. For media inquiries, call Tricia McGovern at 919-433-0217 or tricia_mcgovern@cuttingedgeinfo.com.