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BIOMEDICINE MASTER PROGRAM, LUND UNIVERSITY, COURSE: BIOMEDICINE THE PROFESSION

ANNA CHÉROUVRIER HANSSON, MSC.

PHARMA MARKETING -
STRATEGIC CHALLENGES
AGENDA

1. PHARMA MARKETING – DEFINITIONS


2. PHARMA MARKETING – 2015
3. CASE STUDY
4. Q&A
1. PHARMA MARKETING – DEFINITIONS
2. PHARMA MARKETING – 2015
3. CASE STUDY
4. Q&A

WHAT IS PHARMA MARKETING?


PHARMACEUTICAL MARKETING, SOMETIMES
CALLED MEDICO-MARKETING OR PHARMA
MARKETING IN SOME COUNTRIES, IS THE
BUSINESS OF ADVERTISING OR OTHERWISE
PROMOTING THE SALE OF PHARMACEUTICALS
OR DRUGS.
MARKETING MIX

P P
PRODUCT PRICE

P P
PLACE PROMOTION
P
PRODUCT

▸ Which health needs and wants does a customer have?

▸ Which features will meet the need?

▸ How, when and where will the product be used?

▸ Form of delivery?

▸ Name?

▸ Brand?

▸ Differentiation versus competitors? USPs?


P
PRICE

▸ Value to the buyer?

▸ Is the customer price sensitive?

▸ Possible to get a reimbursement?

▸ Price structure to distributors, wholesalers, end


consumer?

▸ Price comparison to competitors?


P
PLACE

▸ Where will the product be found?

▸ Access to right distribution channels?

▸ Need for a sales force?

▸ What do the competitors do, what can be learned


from that in order to differentiate?
P
PROMOTION

▸ Where, when and how to get across the marketing


messages to the target market?

▸ Which channels should be used to communicate


the messages?

▸ What do the competitors do?


1. PHARMA MARKETING – DEFINITIONS
2. PHARMA MARKETING – 2015
3. CASE STUDY
4. Q&A

WHEN DOES PHARMA MARKETING


ENTER THE BUSINESS MODEL?
PHARMACEUTICAL VALUE CHAIN

Up to $5 billion* to develop a new medicine

10 to 15 years
19 in 20 medicines in 19 in 20 medicines in
experimental experimental
development fail, development fail,
meaning a great meaning a great
many companies fail many companies fail
too too

* Forbes, PHARMA & HEALTHCARE | 8/11/2013


PHARMACEUTICAL REVENUE MODEL

~20 YEARS
from the application date

RETURN ON INVESTMENT

SALES
1. PHARMA MARKETING – DEFINITIONS
2. PHARMA MARKETING – 2015
3. CASE STUDY
4. Q&A

HOW MANY COMPANIES ARE IN THE


COMPETITION AND HOW MUCH CAN
THEY EARN?
GLOBAL PHARMACEUTICALS MARKET IS WORTH
US$300 BILLION A YEAR, A FIGURE EXPECTED TO
RISE TO US$400 BILLION WITHIN THREE YEARS

Revenue
$ billion

Source: World Health Organisation


AROUND 200 LARGE COMPANIES
COMPETING

$328 bn
PHARMA’S BIGGEST BLOCKBUSTERS

Top 10 Drug Products by Sales in 2014


1. PHARMA MARKETING – DEFINITIONS
2. PHARMA MARKETING – 2015
3. CASE STUDY
4. Q&A

WHO REGULATES PHARMA


MARKETING AND PROMOTION?
DIRECTIVE
2001/83/EC

Directive 2001/83/EC of the


European Parliament and of the
Council of 6 November 2001 on the
Community code relating to
medicinal products for human use.
ADVERTISING
PHARMACEUTICALS
IN EU

Member States must prohibit any


advertising of a medicinal product
for which a marketing authorisation
has not been granted.

The advertising of a medicinal


product must encourage the rational
use of the product and may not be
misleading.
US REGULATION
FOOD AND DRUG
ADMINISTRATION

Federal Food, Drug, and


Cosmetic Act

Prescription Drug Marketing


Act of 1987
PROFESSIONAL
CODES OF CONDUCT

The Pharmaceutical Research and


Manufacturers of America (PhRMA)

European Federation of
Pharmaceutical Industries and
Associations
1. PHARMA MARKETING – DEFINITIONS
2. PHARMA MARKETING – 2015
3. CASE STUDY
4. Q&A

HOW MUCH IS SPENT ON PHARMA


MARKETING?
GLOBAL PROMOTIONAL SPEND BENCHMARKS
1. PHARMA MARKETING – DEFINITIONS
2. PHARMA MARKETING – 2015
3. CASE STUDY
4. Q&A

PHARMA DETAILING
PHARMACEUTICAL
DETAILING IS A 1:1
MARKETING TECHNIQUE
USED BY PHARMACEUTICAL
COMPANIES TO EDUCATE A
PHYSICIAN ABOUT A
VENDOR'S PRODUCTS IN
HOPES THAT THE PHYSICIAN
WILL PRESCRIBE THE
COMPANY’S PRODUCTS
MORE OFTEN.
1. PHARMA MARKETING – DEFINITIONS
2. PHARMA MARKETING – 2015
3. CASE STUDY
4. Q&A

PHARMA SAMPLING
Pharma samples can be provided to
healthcare professionals – with
restriction in some countries.
They give immediate access to the
medication and the patient can
begin treatment right away.
1. PHARMA MARKETING – DEFINITIONS
2. PHARMA MARKETING – 2015
3. CASE STUDY
4. Q&A

MEETINGS AND SEMINARS


Pharmaceutical companies can
invite healthcare professionals
to attend meetings and
seminars with the objective of
updating/training them on their
products and technologies. This
can be considered as continued
medical education and in some
countries can give educational
points.
1. PHARMA MARKETING – DEFINITIONS
2. PHARMA MARKETING – 2015
3. CASE STUDY
4. Q&A

KEY OPINION LEADERS


ENDORSEMENT
Peer influence or Key Opinion
Leader (KOL) endorsement is a
critical success factor for
pharma marketing success.
KOL, or "thought leaders", are
respected individuals, who
influence physicians through
their professional status.
Pharmaceutical companies
generally engage KOLs early in
the drug development process
to provide advocacy and key
marketing feedback.
1. PHARMA MARKETING – DEFINITIONS
2. PHARMA MARKETING – 2015
3. CASE STUDY
4. Q&A

ADVERTISING
Pharmaceutical advertising aims at delivering the
pharmaceutical product’s sales message to physicians or
direct to consumer in print, television, radio broadcast or
internet.
1. PHARMA MARKETING – DEFINITIONS
2. PHARMA MARKETING – 2015
3. CASE STUDY
4. Q&A

CLINICAL TRIALS
Phase IV trial or post-marketing surveillance trial involves
the safety surveillance (pharmaco-vigilance) and ongoing
technical support of a drug after it receives permission to
be sold.
1. PHARMA MARKETING – DEFINITIONS
2. PHARMA MARKETING – 2015
3. CASE STUDY
4. Q&A

DTC - DIRECT TO CONSUMERS


This form of advertising is
directed toward patients, rather
than healthcare professionals.
To date only two nations permit
DTC (Nation, year of
legalization, link to legislation
permitting DTC) New Zealand
(1981) and the United States
(1997).

New ways to reach to the


patients: via patient associations
and internet.
1. PHARMA MARKETING – DEFINITIONS
2. PHARMA MARKETING – 2015
3. CASE STUDY
4. Q&A

MAILING
Mailing is a way to keep in
contact with customers and
inform them about the
pharmaceutical product
development. Traditional
paper mail is being replaced
by e-mailing in many markets.
1. PHARMA MARKETING – DEFINITIONS
2. PHARMA MARKETING – 2015
3. CASE STUDY
4. Q&A

CASE STUDY
MARKETING MIX

P P
PRODUCT PRICE

P P
PLACE PROMOTION
MARKETING MIX

P P
PRODUCT PRICE

P P
PLACE PROMOTION
MARKETING MIX

P P
PRODUCT PRICE

P P
PLACE PROMOTION
MARKETING MIX

P P
PRODUCT PRICE

P P
PLACE PROMOTION
MARKETING MIX

P P
PRODUCT PRICE

P P
PLACE PROMOTION
Q&A
SOURCES
• Pharma 2020: Marketing the future - Which path will you take? PricewaterhouseCoopers, 2009
• Pharma 2020: Supplying the future, PricewaterhouseCoopers, 2011
• The Cost Of Creating A New Drug Now $5 Billion, Pushing Big Pharma To Change, Forbes, 2013
• How Much Does Pharmaceutical Innovation Cost? A Look At 100 Companies, Forbes, 2103
• THE CHANGING FACE OF THE TOP 10 PHARMACEUTICAL COMPANIES, IMS 2013
• Pharmaceutical Promotional Spending: Global Trends, Cegedim, 2013
• The shifting pharmaceutical industry landscape. Accounting and regulatory trends affecting reporting for 2012 and
planning for 2013, Ernst&Young
• A wake-up call for Big Pharma, Lower profit margins suggest a need for new business models. December 2011 |
byVivian Hunt, Nigel Manson, and Paul Morgan, McKinsey

• Big pharma: Business model choices for the new market, Deloitte 2013
• Global pharmaceutical industry is in a strategic crisis – Business models must be adjusted, RolandBerger 2013
• www.gabionline.net/Biosimilars/Research/Opportunities-for-biosimilar-development