by barbarabauer | July 23, 2012 2:00 am
it’s been almost 15 years since U.S. direct-to-consumer advertising regulations were loosened. And in those years, the consumer pharmaceutical marketing industry has gone from about $700 million in ad spending to a peak of $5.4 billion in 2006. Spending in2010—about $4.3 billion—was down, but pharmaceutical advertising remains a big business.
Before 1997, pharma marketers were allowed to name a brand in an ad—but with the onus of the “brief summary,” a summation of side effects, contraindications and effectiveness usually written technically and typically anything but “brief.” Ads appeared in print,but the summary mandate would have made TV ads too long. FDA guidance, introduced in 1997 and formally adopted in 1999, allowed TV ads to name a pharma brand and the condition it treated
without the summary.
Instead, TV ads were required to include a “major statement” of the most important risks with a referral to a source of in-depth information. That led to the explosion of DTC advertising, mostly in TV. Pharma marketing is in flux again. The meteoric rise of digital information and social-media channels, the still-evolving regulatory environment, the maturing of mainstream blockbuster drugs, and fewer new drugs being brought to market all point to a major inflection point in pharmaceutical marketing.
Change means new opportunities. Globalization, personalized medicines and therapies, the potential for niche drugs, and diversification into broader health-care portfolios are all potentially positive side effects pointed out by the experts interviewed for this white paper.
Published by: AdAge Insights
Source URL: http://www.fdaregwatch.com/pharmaceutical-marketing/
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