Pharmaceutical Marketing – Time for Change

The average cost to bring to market a so-called block-buster drug is currently estimated at $895 million (EFPIA, 2002). Obviously firms who spend that kind of money need to recoup their costs. Furthermore industry analysts point out that Big Pharma under pressure. It needs to expand sales of blockbuster drugs since there are fewer drugs in pipeline. In order to sustain current levels of growth, firms would need to introduce one new product each year that would sell $4.9 million for each 1 to 1.5 per cent it has of the world pharmaceutical market. “A company the size of the...