Pfizer no longer among nation’s top 10 advertisers
Pfizer's overall advertising spending declined by 35 percent to $242 million in the first half of 2005, compared with $371 million in the same period in 2004.
Pfizer was the ninth biggest U.S. advertiser in 2004. The company dropped to 14th for the first six months of 2005.
Contributing to the overall decline in Pfizer spending was:
•A 98 percent drop in ad spending on Pfizer's painkiller Celebrex, brought about by safety questions concerning the COX-2 drug.
•An 85 percent drop in spending on ads for Zoloft following safety questions surrounding a link between antidepressants and suicidal thoughts in young people.
•A 43 percent reduction in spending on ads for Viagra following a call by the FDA for Pfizer to stop running television ads for the ED treatment last November.
Pfizer spokeswoman Michal Fishman said in a published report that apart from halted or scaled down advertising campaigns for Celebrex, Zoloft and Viagra, the company's ad spending remains at normal levels.