From Patents to Franchises
Executive Summary
While the pharmaceutical industry has succeeded in creating value through innovation, it has failed to capture the value inherent in innovation by relying solely on the traditional models of product life-cycle extension. Instead, given the growing brand-name presence many drug companies have developed with consumers through DTC advertising, drug companies should exploit the consumer brand-equity they've built in their products with line-extension strategies that go beyond pharmaceuticals. While such brand extension can sometimes be dangerous if used inappropriately, it can be, as part of a new product strategy, far less expensive than new R&D programs.You may also be interested in...
When the Consumer Drives Demand
Empowered consumers are playing a more proactive role in almost all treatment decisions. For consumer-driven and lifestyle drugs, a fast-growing portion of pharma's portfolio, marketers still focus on physician detailing but must resist the temptation to rely only on physicians to interpret consumers' needs. Consumers have their own approach to evaluating the risks and rewards of a lifestyle-oriented drug. The fact that it outperforms placebo in clinical trials matters little: they expect it to be significantly better, and without unpleasant side effects. Companies must weigh these expectations early in the development process. Adjusting the paradigm where the physician is king is a major challenge. The perception that traditional detailing efforts generate the dollars, while consumer marketing only spends them, remains hard to change.
Health And Wellness Trademark Review 14 January, 2020
Trademarks are registered and published for opposition with the US Patent and Trademark Office and are published weekly in the agency's Official Gazette.
Claim That Supplement Boosts Children’s Focus Could Spur FTC Attention
Creekside Natural Therapeutics might hear from the FTC after failing to show in an industry self-regulation forum that it would correct misleading claims for its Focused Mind Jr. supplement promoted as an alternative to ADHD drugs.
Existing Subscriber?
Sign in to continue reading.
Need a specific report? 1000+ reports available
Buy Reports
Need a specific report? 1000+ reports available
Buy Reports