IMS said US prescription drug sales grew 1.3% in 2008 to $291 billion amid increased use of generics, lower sales of new products and slackening consumer demand resulting from the economic downturn.
In just the first three months of 2009, several of the largest companies in the industry announced mergers that will change the face of an industry dogged by sluggish pipelines.
Pharma US ad spend fell 18.4% in ’08, says Nielsen
Pharmaceutical industry ad spend fell 18.4% in 2008 to $4.3 billion in the US, according to The Nielsen Company. J&J, the sole drug company among the nation’s top 10 advertisers, spent $1.2 billion on advertising — a drop of 5.4% from 2007 spend.
Roche will buy all remaining shares of Genentech at $95 dollars apiece, or $46.8 billion total, the companies announced in a joint statement. Prior to the deal, Roche held 56% of the company’s shares.
Massachusetts antes up with tough transparency law
Massachusetts passed regulation governing drug and device company sales and marketing that the state’s deputy counsel boasted is “the most stringent of the existing state laws” and “sets PhRMA and AdvaMed codes as the floor.”
As patients scrimp, BMS ads offer to pay Orencia co-pays
Recession got you down? Having second thoughts about filling that prescription? How about some help with your co-pay? That’s the tack Bristol-Myers Squibb is taking with its Orencia Promise program.
Amgen’s Matsuda offers grist for the regulatory rumor mill
Marketers may soon need to reconsider their online strategies in light of new regulatory developments, Mas Matsuda, associate general counsel and executive director at Amgen, told attendees at an e-marketing conference today.
The Supreme Court struck a blow to FDA pre-emption of state laws with a 6-3 decision in Wyeth v. Levine finding the company liable for a failure-to-warn claim under Vermont state law.
An influential advisory board urged Congress to impose far-reaching transparency rules on payments to healthcare professionals and organizations interacting with the drug industry–including reporting samples, in part to aid counterdetailing efforts.
Merck launches $15 million diabetes outreach program
In an effort to close healthcare disparity gaps among at-risk diabetes populations – specifically African-American, Hispanic and Native American adults – Merck’s philanthropic arm will commit $15 million to its five-city outreach program.