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MR Takes Lion's Share of Early Pharma Spending
Blockbuster pharmaceutical brands receive an average marketing investment of $11.7m between Pre-Clinical and Phase II - and market research dominates early phase spending, according to a report by business intelligence firm Cutting Edge Information.
'From Pre-Clinical to Phase II, blockbuster brand teams allocate almost 39% of their commercialization dollars to market research,' according to lead author Jon Hess. 'Market research allows teams to accurately identify the climate of the market and identify unmet needs. Competition is always intense at the blockbuster level so knowing the market is vital to the success of a product.'
The report says that in the early stages of drug development, brand teams are concerned about conducting solid market research regardless of the drug's eventual returns. Later - when peak sales are projected and the competitive market is understood - funds are devoted more to advertising, staffing and thought leader development.
The report, Pharmaceutical Product Commercialization: Pre-Clinical to Phase III Resource Allocation, also examines strategies and decision-making processes at top companies including Eli Lilly, Pfizer, Novartis, Sanofi-Aventis and Bristol-Myers Squibb. A free summary is available from www.PharmaCommercialization.com . The firm is online at www.cuttingedgeinfo.com .
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