Pharmaceutical Marketing before Loss of Exclusivity - Tom Lawrence, Meta Pharmaceutical Services LLC

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Tom Lawrence of Meta Pharmaceutical Services LLC, a solution provider company at the marcus evans PharmaMarketing Summit 2012, on marketing mature pharmaceutical brands. …

Tom Lawrence of Meta Pharmaceutical Services LLC, a solution provider company at the marcus evans PharmaMarketing Summit 2012, on marketing mature pharmaceutical brands.

Interview with: Tom Lawrence, Chief Executive Officer, Meta Pharmaceutical Services LLC

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  • 1. Pharmaceutical Marketing before Loss of Exclusivity promotion when LOE hit. Their thinking Over the next three years, loss of was that health care providers (HCPs) exclusivity threatens USD 55 bn in were set in their ways and there were pharmaceutical sales; these brands can no cost-effective solutions that would expect their market share to decline by change prescribing habits on a mature more than 80 per cent within six brand. months of generic intrusion. The paradigm has really shifted recently We worked on a highly publicized where brands are now ramping up campaign for a major brand in 2011. An promotion in the one to two years aggressive, calculated marketing before LOE, in order to maximize their strategy, just as I mentioned, allowed sales and manage that post-LOE this brand to maintain over 40 per cent downslope from a higher starting point. of its market share a month afterInterview with: Tom Lawrence, At that late point in the life cycle, generic entry. Estimated sales after LOEChief Executive Officer, Meta development costs have been covered, are still forecasted at over a billionPharmaceutical Services LLC production is efficient and the brand is dollars. at its most profitable time. Most importantly, HCPs are still receptive toThe time has come where marketers promotional efforts and will start newcan look at Loss of Exclusivity (LOE)as a final opportunity instead of a patients in anticipation of a future generic option. Copy cards, non Nothingdeath sentence, says Tom Lawrence, personal promotion directed by the RxChief Executive Officer, MetaPharmaceutical Services LLC. At data, managed care focused communications and patient focused justifies spendthat late point in a pharmaceuticalproduct‟s life cycle, development costs information are all proven drivers of increased sales. like robustwill have been recovered, productionwill be efficient and the brand will be With budgets increasingly tight and ROI resultsat its most profitable time, he adds. sales support overburdened, it can be tough to justify marketingFrom a solution provider company at spends in this arena. What do youthe marcus evans PharmaMarketing tell clients? Any final words of advice on LOESummit 2012, in Wheeling, Illinois, marketing support?April 30 - May 2, Lawrence shares his Nothing justifies spend like robust ROIinsights into marketing mature brands results. Since MetaPharm is as adept at The time has come where marketersbefore LOE and managing the post-LOE data analyses as program execution, we can look at LOE as a final opportunitydownslope. always perform a follow up ROI analysis instead of a death sentence. Low-cost, on every program we administer. Time effective and quick promotions can driveMeta has a depth of experience with and time again, we see ROIs in the 5:1 share among all your HCP populations.mature brands. What works for to 10:1 range. Often, responders to the Proven ROI results have justifiedbrands that are mature or promotions have up to a 30:1 ROI! A continuing your attention on theseapproaching LOE? five-wave promotion could be only a brands right up to LOE and even USD 15 spend per HCP. Get one beyond. That new thinking hasIt used to be that pharmaceutical incremental Rx from every three HCPs unleashed an avalanche of innovativemarketing teams would wind down and you still have a 3:1 ROI. Show us strategic campaigns. Remember, assales force support towards the end of a another promotional arena that has Yogi Berra said, “It ain‟t over „till it‟sbrand‟s life cycle, then shut down all such a track record of great ROI. over”!
  • 2. About the PharmaMarketing Summit 2012 The Marketing Network - marcus evans Summits group This unique forum will take place at the Westin Chicago North Shore, Wheeling, delivers peer-to-peer information Illinois, April 30 - May 2, 2012. Offering much more than any conference, exhibition on strategic matters, professional or trade show, this exclusive meeting will bring together esteemed industry thought trends and breakthrough leaders and solution providers to a highly focused and interactive networking event. innovations. The Summit includes presentations on social media, healthcare reform and how to approach emerging markets. www.pharmamarketingsummit.com Contact Please note that the Summit is a Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits closed business event and the Division number of participants strictly limited. Tel: + 357 22 849 313 Email: press@marcusevanscy.com For more information please send an email to info@marcusevanscy.com All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.comAbout Meta Pharmaceutical ServicesMeta Pharmaceutical Services (MetaPharm) is on the leading edge of the dynamic pharmaceutical industry providing strategic dataanalyses combined with proven non-personal promotion. As sales forces shrink, the need to distribute impactful messaging amongmultiple channels is paramount. MetaPharm is the only industry partner who has over a decade of experience in mining your datafor the most responsive HCPs, tying that to your local managed care position, working with your agencies on content development,flawlessly distributing the promotional campaigns via digital or direct mail, and finally providing a robust ROI analysis to determinethe program‟s effect on prescribing.MetaPharm – Information. Insight. Impact.For more information: www.metapharm.comAbout marcus evans Summitsmarcus evans Summits are high level business forums for the world‟s leading decision-makers to meet, learn and discussstrategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity toindividually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings.For more information, please visit: www.marcusevans.comUpcoming EventsB2B Marketing Summit (North America) - www.b2bmarketing-summit.comB2C Marketing Summit (North America) - www.b2cmarketing-summit.comCMO Summit (Asia Pacific) - www.cmoanzsummit.comPharmaBrand Summit (Europe) - www.pharmabrandeurope.comTo view the web version of this interview please click here: www.pharmamarketingsummit.com/TomLawrence