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Pharmaceutical advertising as a consumer empowerment device
1Deparment of Economics and School of Law, Emory University, Atlanta, Georgia, USA.
The Journal of Biolaw & Business
|May 20, 2003
Summary
Direct-to-consumer (DTC) pharmaceutical advertising has surged, driven by relaxed FDA regulations. This trend empowers consumers with medication information, benefiting both patients and manufacturers.
Area of Science:
- Life Sciences
- Health Economics
- Pharmaceutical Marketing
Background:
- Direct-to-consumer (DTC) pharmaceutical advertising has seen significant growth.
- Spending increased from $600 million in 1996 to over $1.1 billion in 1998.
- 84 distinct drugs were advertised to consumers in 1998.
Purpose of the Study:
- To analyze emerging trends in DTC pharmaceutical advertising.
- To understand the economic and informational impact of DTC advertising.
- To explore the benefits for both consumers and pharmaceutical manufacturers.
Main Methods:
- Analysis of DTC advertising spending and volume.
- Review of regulatory changes impacting pharmaceutical marketing.
- Examination of the relationship between advertising, consumer information, and market profitability.
Main Results:
- A substantial increase in DTC advertising expenditure and the number of advertised drugs.
- The Food and Drug Administration's (FDA) 1997 decision to ease restrictions on TV advertising as a key catalyst.
- 32 products were advertised on television in 1998, indicating a shift in marketing strategies.
Conclusions:
- DTC advertising is profitable because it informs consumers, enabling better medication choices.
- Informed consumers lead to increased demand for beneficial drugs, aligning manufacturer and consumer goals.
- The study highlights the evolving landscape of pharmaceutical marketing and its implications for the life sciences sector.
Keywords:
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