J&J puts global media business up for review
Johnson & Johnson said a review of its global media buying and planning work crosses the healthcare giant's consumer, pharmaceutical and medical-device businesses and brands but does not include its North American business.
The company reported $2.6 billion in advertising spending in its 2014 annual report, according to figures cited by Advertising Age, which first reported the review. By Ad Age's count, J&J last reviewed its media business in 2012.
“Our goal is to ensure we have the best media capability in strategy, planning and buying against evolved business strategies and marketing frameworks,” a J&J spokeswoman said in a statement.
She declined to provide further comment about the review.
The company's top-selling brands in 2014 included rheumatoid-arthritis drug Remicade, which generated $4.5 billion in US sales, and Xarelto, a blood thinner that brought in $2.1 billion in US revenue. The arrival of a biosimilar version of Remicade in Europe earlier this year is expected to dampen sales of J&J's drug in that market.
J&J boosted US promotional spending by 38% last year to $1 billion, according to MM&M's 2015 Pharma Report.