Not buying it: Medical professionals go generic, study shows

Share this article:

Researchers at the University of Chicago Booth School of Business have news for OTC drug marketers who may feel comfortable that branded drugs are highly regarded among HCPs: Don't be.

Looking at Nielsen Homescan data that covered over 66 million shopping trips between 2004 and 2010, the researchers found that medical professionals were more likely to buy private-label headache remedies vs. branded ones than peers in non health-related fields because they know more. In addition to headache meds, researchers also looked at food and drinks and found the same thing: the more consumers know about the materials in their products, the more likely they are to use private-label versions.

In terms of headaches, researchers found that were consumers to hit the pharmacists' awareness mark—89% familiarity with the active ingredients—that branded headache medicine sales could plummet 55%, amounting to about $410 million in sales. Elevate that level of awareness to other healthcare categories like cold medications, and this comes out to an additional $340 million. Spin it further, to include food staples like sugar (food professionals are the basis of this estimate) and drinks, and the overall sales-scape would shrink by $1.1 billion.

Share this article:
You must be a registered member of MMM to post a comment.
close

Next Article in Channel

Email Newsletters

MM&M EBOOK: PATIENT ACCESS

Patient access to pharmaceuticals is a tale of two worlds—affordability has improved for the majority, while the minority is hampered by cost, distribution and red tape. To provide marketers with a well-rounded perspective, MM&M presents this e-book chock full of key insights. Click here to access it.

More in Channel

Five things for pharma marketers to know: Monday, September 15

Five things for pharma marketers to know: ...

Pharma has sought 76 meetings with FDA over biosimilars; Gilead licenses Sovaldi to India generic drugmakers; Pfizer and Ranbaxy Lipitor lawsuit dismissed.

Liraglutide, aiming for new indication, gets new name

Liraglutide, aiming for new indication, gets new name

Why Novo Nordisk is choosing not to leverage Victoza's brand equity as it seeks a weight-loss indication for liraglutide.

Five things for pharma marketers to know: Friday, September 12

Five things for pharma marketers to know: Friday, ...

An FDA panel voted in favor of liraglutide for weight loss; Allergan investors backing an attempted takeover of the firm crossed a critical threshold; and 100 million health wearables are ...