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The Subject Expert Committee (SEC), which advises the national drug regulator on matters related to approval of new drugs and medical devices and clinical trials, has recommended grant of market authorisation for Telangana-based MSN Laboratories for sleep disorder drug Pitolisant tablets.
Identifying brandeddrugs with a low likelihood of generic entry has become a crucial strategy for companies looking to expand their product portfolio through in-licensing. This approach not only helps maintain market exclusivity but also ensures a steady revenue stream for pharmaceutical companies.
SUMMARY : DTC marketers are spending tens of millions of dollars on programmatic ads that are full of fraud and have low click-through rates but they have yet to embrace email marketing which has an average click-through rate of 3.43%. The key to effective email marketing is segmentation and personalization.
The Future of Generic Drug Development: Opportunities and Challenges for Emerging Markets As the global healthcare landscape continues to evolve, emerging markets are playing an increasingly important role in shaping the future of generic drug development. Share your thoughts in the comments below!
KEY TAKEAWAY: Consumer behavior has changed due to the pandemic, and DTC marketers should be aware of how consumers will evaluate and choose prescription drugs. Many organizations have postponed market research due to the pandemic but knowledgeable DTC marketers should be aware of the progressive trends in healthcare.
With increasing competition and stricter compliance regulations, pharma marketing teams must adopt data-driven and personalized marketing strategies to capture the attention of HCPs. But how can pharma brands stand out in a crowded market? For expert guidance on pharma marketing trends, visit Pharma Marketing Network.
The Unseen Heroes of Generic Drugs: Stability Testing 101 As a consumer, have you ever stopped to think about the rigorous process that goes into bringing a generic version of your favorite medication to market? For generic drug manufacturers, stability testing is a critical step in the development process.
QUICK READ: More TV DTC spots are airing, but DTC marketers are losing the battle between awareness and conversion because of all the noise online. I’ve spent the last six months analyzing clients’ DTC marketing campaigns and they are, for most ineffective. One of the most underused tactics is your product website.
Before most drugs are launched, much time and effort are spent developing marketing plans and getting approval. However, given the rapid changes in the market and the realization that too many tactics are more hype than reality, fixed marketing plans are a waste of time. This all leads to a new model in DTC marketing.
6ix: Online health seekers trust pharma products, but they are “very concerned” about rising drug costs as their health insurance rates climb. 9ine: Hard to pronounce brandeddrug names often is a barrier to getting more information online. 8ight: The number one way people learn about new pharma products is via TV.
Lotus Pharmaceuticals and Teraju Pharma have entered a strategic partnership to market Lotus’s products in a range of therapeutic areas in Malaysia. Teraju Pharma will be responsible for marketing and promoting the products using its relationships and infrastructure.
(Abdullah Durmaz/Getty Images) In just a few years, brand-name injectable drugs such as Ozempic, Wegovy, Mounjaro and Zepbound have rocketed to fame as billion-dollar annual sellers for weight loss as well as to control blood sugar levels and reduce the risk of heart disease.
Despite this, specialty generics are expected to be the domain of a handful of companies with the necessary manufacturing capabilities and legal backing needed for entering the market. Specialty drugs are most used to treat different cancers, rheumatoid arthritis, and multiple sclerosis. The only way forward for generics producers.
In emerging markets, the struggle to provide quality healthcare is often hindered by the high cost of branded medications. This is where generic drug development comes in a game-changer for millions of people around the world. Share your thoughts in the comments below! Read the full article here: [link]
I can get better results using digital laser targeting and targeted print ads, but DTC marketers are like TV because it makes them feel important within their company. ” Marketers were tapped to develop a model that showed the patient’s journey to getting an Rx. The post DTC marketers addicted to TV.
Communication and transparency are vital to building trust, which necessitates a shift away from traditional DTC marketing. If pharma is going to leap to a new era of marketing, they have to get to know their audiences. Some believe that these behaviors won’t translate to prescription drugs, but that would be a mistake.
The word influencer was added to the Merriam-Webster dictionary in 2019, but influencer marketing is nothing new. Scandals, fake followers, bot technologies, and the pandemic crisis converged have put a halt to influencer marketing growth and tarnished the public view of influencers as a whole. billion in 2021.
SUMMARY: The media headlines promise weight loss for diabetes patients, but Norvo’s new drug is in the same class as other drugs and carries many warnings. Can diabetes patients really stay adherent to a drug for 63 weeks in which 85% of patients report GI side effects and will insurance cover the cost?
QUICK READ: Reaching physicians with key brand messages isn’t hard, but the online landscape has become crowded with many players. By far, Medscape is still number one in physician reach , and medical journal advertising has been proven to result in more branded Rx’s. Drug samples are still effective. 2017 study.
According to GlobalData’s recent Niemann-Pick Type C (NPC): Opportunity Analysis and Forecast to 2031 report, the NPC market is expected to see significant growth during 2021–31. This sales growth will be in line with a steadily increasing disease prevalence and the entrance of novel agents into the market.
There’s quite a debate in the CPG world about the investment in digital marketing. However, with pharma brands, online is essential to a successful marketing strategy. For this reason, digital marketing is an essential part of any pharma brand. Suppose pharma is to leap into being great at digital marketing.
As we delve into the intricate world of biosimilar market dynamics, we’ll explore how these complex molecules are reshaping treatment paradigms across diverse patient populations. ”[1] The global biosimilars market is experiencing exponential growth, with projections indicating it will reach $69.4 from 2020 to 2025[1].
on National Health Service (NHS) sales of branded medicines in 2023, almost double that of the previous year, has sent shock waves through the pharma industry. The forecast branded NHS drug sales growth figure for 2023 was adjusted to 5.63%. The UK government’s decision to set an unprecedented payback rate of 26.5%
LEAD IN: Pharma budgets are being scrutinized like never before, and DTC/HCP marketers must justify every dollar spent. Cutting through the noise is getting more challenging, and a “mass market” approach doesn’t work anymore unless you have a broad patient population. Digital advertising will account for 64.4%
SUMMARY: Physicians are tired and overwhelmed with medical information on new drugs. A client launched an Oncology drug based on extensive research with physicians, but the results were not that good during a post-launch evaluation. 4our: There are too many messages associated with new drugs. It’s a huge challenge.
You need to invest in digital marketing too. DTC marketers should be joined at the hip with their market research people. To ignore social media trending topics around your brand is a huge mistake. What I have found is that too many DTC marketers make mistakes by applying generic research to their product categories.
Branded generics are generic drugs that are marketed under a brand name by the manufacturer. These products contain the same active ingredients as their brand-name counterparts but are typically sold at a lower price point.
The messages that DTC marketers develop and usually tested, again and again, aren’t as effective as we thought they were. Second, I see that in most markets and health conditions, micro-segments have different needs from online health sites, including pharma product sites. Identifying each segment with a persona can help a lot.
DTC marketing has evolved. Challenge #1 – DIGITAL MARKETING. Pharma companies are increasing digital budgets, but they are wasting too much money because of internal staffing issues and inexperience with online marketing. Paid Media – The most commonly used KPI in marketing is essentially worthless.
However, the reality is that traditional medicine has been the source of lead identification in modern drug discovery. Ethnopharmacology has been an important basis for modern medicine The estimated percentage of pharmaceutical drugs available today that are sourced from natural products varies.
Consumers have changed their shopping behavior due to the pandemic, and some of those changes are relevant for pharma marketers. The days of someone seeing an ad for a prescription drug and rushing to ask their doctor about it have replaced the quest for more information, usually online. What can we learn from this?
The generic drugmarket has experienced significant growth over the past few decades, driven by the expiration of patents on brandeddrugs and the increasing demand for affordable healthcare solutions. However, the industry faces several challenges, including commoditization, regulatory hurdles, and intense competition.
The Generic Drug Revolution: Setting the Stage Before we dive into the nitty-gritty, let’s take a moment to appreciate the impact of generic drugs. Did you know that generic drugs now make up about 90% of all prescription drug purchases in the United States, while accounting for only 20% of prescription drug spending[1]?
Ensuring you have hired the right one is essential to your brand’s success on both the HCP and consumers’ sides. Many CPG brands are bringing their digital marketing and media buying in-house to reduce costs and ensure that the digital strategies are aligned with key brand insights. How is creative developed?
DTC marketing needs to evolve if it’s to remain relevant as part of the brand objectives. DTC marketing today drives patients online to seek more information, and too often, the information they are reading is inaccurate. NOBODY goes to a pharma website and says “I’m going to ask for that drug!”
Care-Keralam, the Ayush cluster in Kerala, will shortly fine-tune its strategies to build ‘Kerala Brand of Ayurveda Products’ for international marketing and to increase the quantity of exports of traditional and herbal drugs from Kerala to global markets.
The Unsung Heroes of Generic Drugs: The Importance of Quality Assurance As we navigate the complex world of pharmaceuticals, it's easy to overlook the behind-the-scenes efforts that ensure the quality and safety of the medications we rely on. So, what can we learn from the importance of Quality Assurance in generic drugs?
Table of Contents Sr# Headings 1 Introduction: The Pharma Marketing Challenge 2 Building a Winning Pharma Marketing Strategy 3 The Role of BrandedDrug Campaigns 4 Innovating for Future Success Introduction: The Pharma Marketing Challenge Marketing pharmaceuticals is no small feat.
For every $1 million invested in online banner ads, just 0.1%, or $1,000, derives value for brands, resulting in $999,000 wasted by brands. The vast majority of digital advertising is not being viewed at all, yet the drug industry continues to waste money on them. So why is pharma wasting so much money?
The pharmaceutical industry often relies on enzymes to perform a process known as biocatalysis, which facilitates the cost-effective and sustainable production of small molecule drugs at scale. In 2021, Novo Nordisk Pharmatech, a leading pharmaceutical-grade insulin and Quats product supplier announced plans to enter the enzyme market.
SUMMARY: The FDA wants to look at how certain brand names affect consumer and health care providers’ perceptions about the efficacy and the medical conditions for which they’re indicated. This is just another example of how clueless the FDA is regarding patient behavior and prescription drugs. In other words, they resonate.
Consumers would ask their doctor about an advertised prescription drug in a perfect world. Is there a disconnect between what DTC marketers think will happen and what happens with DTC? Ask current patients what drove them to get an Rx for a branded product (MS drug). Each market has its dynamics.
Most regulatory and legal people severely restrict the use of social media by DTC and HCP marketers, but social media can be of help. First, pharma marketers must understand what social media can and can’t do and that its use does not apply to all health conditions and brands. What about social media options?
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