US research backs medical reps for pharmaceutical sales growth
In the USA over $5bn per year is spent on advertising direct to consumers. Now, research from Havard has concluded that this is ineffective in generating pharmaceutical sales.
If you are a shareholder of a US pharmaceutical you may be asking some questions right now. Over the last 10 years, advertising direct to consumers has cost US pharmaceutical companies some $5bn per year, that's a lot of dividends.
The results are surprising as spend has grown by over 330% over the last 10 years and is clearly aimed at generating pharmaceutical sales growth. In an industry which is based upon testing and trials one could be forgiven for suggesting they should have looked more closely at this before.
On a positive note for Uk pharmaceutical companies, the research concludes that medical representative promotion is the most effective vehicle for generating pharmaceutical sales, this having been the main stay for promotion in the UK.
There has been an assumption that in a private market place the consumer will exercise their personal choice. This research seems to suggest that even here they would still rather leave the decision making to the physician than be influenced by advertising.
Concern over medical sales at pharmacies
