Anticipated Peak Sales Not Predictive of Early-Phase Marketing Spending
RESEARCH TRIANGLE PARK, NC--(Marketwire - August 22, 2007) - Budgets vary widely for
pharmaceutical marketing in the early phases of research regardless of
anticipated sales, according to a report, "Early-Stage Pharmaceutical
Marketing Budgets: Preparing for Product Launch"
(http://www.EarlyStageMarketing.com), published by business intelligence
firm Cutting Edge Information.
Marketing budgets for blockbuster pharmaceuticals prior to Phase III range
from just over $400,000 to nearly $3 million dollars, with the bulk of
spending allocated to thought leader and market research activities. Even
niche market drugs, however, have budgets as high as $1.9 million for
marketing over the same period of time.
The report details the marketing budgets of 14 different brands from
Pre-Clinical to Phase II, including a breakdown into specific departmental
activities, the duration of each phase of research, and the anticipated
therapeutic area of each featured brand. While the brands are not named
for blinding purposes, the list of companies surveyed includes small and
large pharmaceutical companies each working in a varying number of
therapeutic areas.
"While the anticipated peak sales don't necessarily determine the marketing
budgets, a number of other factors play into a company's decision to keep
its purse strings tighter or looser," said Elio Evangelista, a project team
leader at Cutting Edge Information. "The size of the company developing the
drug and the perceived odds that a compound will make it through the
approval process are two of the major factors that will influence marketing
budgets."
The report, "Early-Stage Pharmaceutical Marketing Budgets"
(http://www.EarlyStageMarketing.com), covers numerous marketing
sub-categories, including the following:
-- Thought leader programs and activities
-- Medical education
-- Medical information
-- Market research
-- Competitive intelligence
-- Pricing strategy and analysis
-- Pharmacoeconomics
-- Reimbursement
-- Advertising and promotions