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MARKETING PRESCRIPTION DRUGS TO CONSUMERS

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Should Prescription Drug Companies be able to Market their products directly to Consumers? ... PRESCRIPTION DRUG COMPANIES FIGHTING FOR THE RIGHT TO ADVERTISE ' ... – PowerPoint PPT presentation

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Title: MARKETING PRESCRIPTION DRUGS TO CONSUMERS


1
MARKETING PRESCRIPTION DRUGS TO CONSUMERS
  • Should Prescription Drug Companies be able to
    Market their products directly to Consumers?
  • Europe vs. USA

2
PRESCRIPTION DRUG ADVERTISEMENTS
  • Youtube Commercials

3
MARKETING PRESCRIPTION DRUGS
  • USA
  • Freedom to advertise directly to consumers
  • TV Commercials
  • Magazine Advertisements
  • Online Advertisements
  • Newspaper Advertisements
  • Radio Commercials
  • Etc.

4
MARKETING PRESCRIPTION DRUGS
  • Europe
  • Marketing directly to consumers was highly
    prohibited
  • Prescriptions were only marketed to Physicians
  • Recently passed a law that relaxes these
    requirement
  • This law allows non-biased print and online ads
    only

5
PROBLEMS FOR PRESCRIPTION DRUG COMPANIES
  • Consumers dont know what products are available
  • Doctors loyalty towards certain drugs
  • Less Revenue
  • More difficult for newer products to break
    through the market

6
CONSUMERS STANDPOINT
  • Consumers dont know what products are available
  • Consumers are becoming more involved in their
    treatment and they are demanding information
  • Hard to police the line between facts and fiction

7
ADVERSE AD CAMPAIGNS
  • Prescription Drug Companies have started to
    formulate ad campaigns towards disease awareness
  • This gets the patient to the Doctors Office to
    get prescribed the drug
  • Even though a drug company is promoting disease
    awareness they are still not allowed to put the
    drugs name on the advertisement

8
EXAMPLES
  • Novartis AG Lamisil
  • Started running advertisements for awareness of
    nail fungi
  • Consequently
  • More people visited doctors for nail fungi
    problems and Lamisil was prescribed more
  • When the ads stopped sales slowed

9
PRESCRIPTION DRUG COMPANIES FIGHTING FOR THE
RIGHT TO ADVERTISE
  • "We're not interested in advertising to patients.
    We will accept any reasonable oversight of the
    information we provide to ensure it's unbiased
    and to ensure it achieves its objective, which is
    to really improve patients' ability to manage
    their own health care," said Arthur Higgins,
    chief executive of Bayer AG's health-care unit
    and head of the European Federation of
    Pharmaceutical Industries and Associations.
  • Companies continue to say they will NOT start
    US-style advertising

10
SUMMARY
  • Europe is against direct advertising to consumers
    of prescription drugs.
  • They will allow disease awareness advertisements
    and print or online advertisements that are
    unbiased
  • US is one of 2 countries that allows direct to
    consumer advertising of prescription drugs
  • Prescription drugs companies have less sales in
    countries without direct to consumer advertising

11
RELATING TO OUR CLASS
  • Europe is changing its laws on advertising
  • Companies can now use direct marketing to
    communicate with the consumers
  • Even though these laws are being relaxed, some of
    the advertisements still have to be adapted to
    the European culture.
  • Global Advertising
  • A risk in going global- you need to know the laws
    of the countries in which you are doing business

12
REFERENCES
  • Wall Street Journal - http//online.wsj.com/articl
    e_email/SB122340544043612127-lMyQjAxMDI4MjEzMzQxMD
    M1Wj.html
  • Bnet- Business Network - http//findarticles.com/p
    /articles/mi_qa4040/is_200807/ai_n27901799
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