Pharmaceutical Companies Advertising
Putting a certain medication in media or print ads is the best way for the pharmaceutical company products to be known by consumers.
The industry of pharmaceutical, which produces, develops, researchers and markets prescription drugs in the U.S. is the most greatly regulated in most industries when it comes to advertising and promotion.
About Pharmaceutical Advertising
Primarily, the Food and Drug Administration through its division the Drug Marketing, Advertising and Communications Divisions controls the promotional and advertising activities for prescription drugs and that includes the statements for pharmacists and physician by pharmaceutical sales representatives. In case of over-the-counter drugs, it is under the FTC or Federal Trade Commission.
It is very important to know that before a new prescription drug is permitted for trading, the Food and Drug Administration as well as the company should have an agreement regarding the “full prescribing information” this will be go along with the product and must be included in promotional pieces, brochures, ads and samples. This comprehensive prescribing information about the drug and must include the trade name, assigned name, the power of its dosage, caution statement, ingredients description, clinical pharmacology, indications for usage, contradictions, adverse reactions, precautious, dosage, administration as well as the instruction in case of over dosage.
The Changing Role of Pharmaceutical Ads
Conventionally, the promotion and advertising of pharmaceutical products were directed to physicians only with a restricted promotion and advertising which has being taught to pharmacist. When the patents of some major drugs have expired in the 1980s to 90’s, generic versions of these drugs became available from the manufacturers. In this case, the prices of generic drugs were lower than the brand new products. As a result, this provide pharmacist to alternate the branded medicines to generic one. So, the pharmacist can able to control the way they handle the drugs. At present, the advertisement and promotion for pharmaceutical products are now directed to the customers through the media advertisements.
Code of Pharmaceutical Marketing Practices
The companies that are member of Pharmaceutical Research & Manufacturers of America have worked altogether to make guidelines in terms of prescription and promotion of pharmaceutical products.
The pharmaceutical industry assumes:
- That every product that it makes available only for prescription purposes into public are supported by the finest technological service and have full regard in terms of needs in the public health. This will assure that the pharmaceutical products are under sufficient procedures as well as quality assurance.
- To have claims for formulations and substances on suitable scientific evidence that concludes the conditions and therapeutic indications for use.
- To offer scientific information with good taste and objectivity with truth and scrupulous in regards for truth and clear statements in terms of toxicity, tolerance, contraindications and indications.
- Franchise Opportunities
- Wholesale Business Opportunities
- Small Manufacturing Business
- Farming Business Ideas
- Unique Business Opportunities
- Shop Business Ideas
- Small Business Opportunities
- Startup Company Ideas
- Home Based Business Opportunity
- Rural Business Opportunities
- Tips for Buying and Selling
- Starting Rental Business
- Ideas for Small Business
- Free Business Ideas
- Internet Business Ideas
- Store Business Opportunities
- Entrepreneur Business Idea
- Retail Store Ideas
- Service Business Ideas
- Advice for Small Business
- Financing a Small Business
- Restaurant Business Opportunities
- Small Business Articles
- Business Marketing and Advertising
- Repair Business Opportunity
- Professional Career Opportunities
- Business Insurance Information
- Instructor Guides
- How to Start a Non Emergency Medical Transportation Business
- Tips to Start a Pharma Distribution Business
- How to Start a Medical Tourism Business
- How to Start a Medical Waste Disposal Business
- How to Start Medical Marijuana Business
- How to Start a Private Duty Nursing Business
- Marketing Strategies for Pharmaceutical Companies
- 5 Steps to Open a Geriatric Care Management Business
- Starting a Nursing Case Management Business