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Low Investment Threatens Next Generation Drugs
Pharmaceutical companies may be starving the next generation of blockbuster drugs of the development support they need, according to a study by business intelligence firm Cutting Edge Information. More than $100bn worth of products face patent expiration over the next three years, says the study.
Current early-stage investments in replacements for the pharma giants' rapidly expiring blockbuster brands represent only 5% of total marketing budgets, suggesting that product lifecycle management has been neglected.
The study, 'Blockbuster Pharmaceutical Launches: Marketing Spend and Structure', compares phase-by-phase marketing budgets for small, medium and large pharmaceutical products, focusing on industry leaders' brand marketing strategies and tactics to grow market share and replenish beleaguered development pipelines.
'Generics competition is on the rise and product managers need to prepare their products to meet growing demand', said Eric Bolesh, senior analyst at Cutting Edge. The biggest products require significant financial backing from the marketing organization. One high-profile launch studied, for example, won $462m in total funding, with c.$250m supporting Launch activities and $50m spent on each of Phase IIIa and IIIb.
An online summary of the report, which also includes quantitative metrics and qualitative case studies from 22 industry leaders, can be found at www.pharmalaunch.com
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