Top Drug Brands Face a Bitter Pill

18Aug09

It is estimated that one third of drugs in the US will be coming off patent in the next five years

• view that loss of market share is inevitable once a drug goes off patent
• generic versions of leading drugs come in and undercut prices, and consequently do little do defend their market position

Some in the PR industry believe that PR could play a greater role in the battle for market share

• only companies willing to take PR seriously are one with blockbuster drugs
• doctors are more wary about using generic medications for certain conditions

I believe strongly that pharmaceutical companies need to focus more on branding. Through additional promotional products that are made available within a doctor’s office, for example, a pharmaceutical brand can build its awareness that can ultimately lead to establishing a relationship with the consumer. Take for instance the video on a pen made by Levitra. The pen had made enough of a connection to the consumer that Levitra now has free branded content on youtube.

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Developer of drug can market drug as a premium product

• PR industry can also run value programs and produce patient information that is not necessarily about the brand but the drug
• pharmaceutical companies can maximize revenue through PR!

(btw- Levitra is for erectile dysfunction. It might help understand the video better)

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