3 minute read
Perspective
from ACMS Bulletin November 2022
by TEAM
Top Pharma’s Paradigm Shift
RoBeRt s. Whitman, mD
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Many things never change! Our Earth continues to lean 23.5 degrees tilted on its axis toward the sun, creating our seasons. Professional sporting events recur annually on a specific schedule. Love, marriage, procreation, birth, developmental milestones as well as illness and death, follow a defined sequence throughout our lifetime. Of course, occasional variations will result, and changes will occur for a variety of unexpected reasons.
However, significant changes have occurred in many areas over the past decade including politics, finance, technology, design, and medicine. among the industries whose presentation has been most significantly modified is that of the top pharmaceutical companies worldwide. Those include companies located in the U.S. Here, they produce the largest number of advanced tested and approved effective therapies for an astronomical number of illnesses and diseases. Their Research and Development divisions are increasingly effective in producing a seemingly endless supply of medications for a wide range of diseases.
Paradigm shifts everywhere are the result of when the usual way of accomplishing something is replaced by a new and different method. That method is quantitative once the method is identified, measured, and understood.
Having engaged that premise, it has become evident that pharma companies have become very aggressive advertisers using television. Multiple channels in the U.S., and elsewhere are utilized by these companies to hawk their products to consumers.
Until recent years, there was a prescribed way that new pharmaceuticals were introduced. A representative from a pharmaceutical company would meet with the physician to introduce, present, and promote what was new.
In recent years, TV advertisement has become the method of choice. This provides an immediate, general, and wide-reaching exposure to millions of people. Pharma now recognizes that this type of advertising is the most immediate and impactful method to introduce and market all new medications.
Currently, the total advertising expenses to the top pharma companies in the U.S. exceeds more than $6.5 billion dollars annually. This is exclusive of the funds needed for scientists to develop, test, and submit to the FDA to allow its use. Apparently, there has been a paradigm shift in advertising from pharma companies, and they are increasing their revenue.
There are many costs associated to produce these advertisements in a slick, efficient manner. There are surveys, demographers, psychologists, marketing experts, writers, video and film experts, artists, actors, musicians, and editors, etc. Production costs and airtime costs are part of the process, too.
The choosing of the best times to put these advertisements on the air is essential. There must be careful consideration as to the target audience and when best to capture their attention. Day time audiences may include children, their caretakers, and retirees. Prime time presentation targets the 18–49 year-olds. Evening news and generally popular shows draw yet another large, diverse group.
Advertising costs related to time slots are very impactful. Prime time in the U.S., such as during the Super Bowl, could cost upwards of $100,000. More typically, a 60 second time slot is chosen to present a product (which seemingly is affordable considering how many we are bombarded with every day). Perhaps if pharma would reduce the expense and frequency of these annoying repetitions, patients would benefit greatly by a reduction in prescription pricing!
Interestingly, while practicing Internal Medicine for over forty years, these advertisements never sparked a conversation with a patient who viewed any of these commercials. Perhaps the warnings about drug interactions and frightening side effects scared them off from wanting to know more!
One further observation: new drug names are selected in an altogether alternate vernacular. Most are pronounced in three syllables that are likely chosen to provide attention because odd numbers are more effective in capturing visual interest. And, by frequently adding the last ten letters of the alphabet to new drug naming provides a most unique identity.
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