Commercial

Commercial

​It is hard to imagine another industry where the old saying, ‘you have to spend money to make money’ is more true than in pharmaceutical advertising. The amount of money spent on advertising every year in America alone has now reached $240bn. According to a study published by Dartmouth College, drug companies are spending $9bn more per year on marketing than they were 20 years ago. The Washington Post also discovered that nine out of ten major pharmaceutical companies spend more on sales and marketing than they do on R&D.

Major players in the market Johnson & Johnson spent $17.5bn on marketing, and less than half that figure, $8.2bn, on R&D. Fellow American giant Pfizer spent over $11bn on marketing pursuits, almost $5bn more than they spent on research. However the marketing of drugs is not without its pitfalls, particularly when it comes to issues facing the consumer. New research shows that 60% of online searches for pharmaceutical drugs leads to pages for fake medicines, putting consumers at serious risk of buying counterfeit products.

Many life sciences companies in the United States are exploring the growth opportunities offered by online direct-to-consumer drug advertising. As a result, they are increasing the shift towards promotional spending on digital promotions such as online display advertising, product websites and social media campaigns. Google are now allowing the advertisement of prescription drugs and HIV home tests across the country. SAMPS also shares insights on how artificial intelligence and other technologies are become increasingly strategic resoruces for sales and marketing professionals across life sciences.

As a result of these trends the market is anticipated to reach a value of $8bn by 2024, at a projected CAGR of 4% over the forecast period of 2019-2024.

Commercial Jobs

Global Marketing Manager
Negotiable, Massachusetts

Global Marketing Manager Location: Massachusetts An innovative Life Sciences manufacturer is look...

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Global Marketing Manager
Negotiable, Massachusetts

Global Marketing Manager Location: Massachusetts An innovative Life Sciences manufacturer is look...

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Associate Director, Neuroscience Business Analytics
Negotiable, New Boston

Title: Associate Director, Neuroscience Business Analytics Overview: A world-leading, top 10 glob...

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Manager, Commercial Reporting
Negotiable, California

Title: Manager, Commercial Reporting Reports To: Senior Manager, Commercial Analytics A small, ra...

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Manager Commercial Analytics
Negotiable, California

Title: Manager, Commercial Analytics Reports To: Executive Director, Commercial Analytics A small...

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Sr. Manager, Sales Operations
Negotiable, San Francisco

Title: Senior Manager of Sales Operations Location: San Francisco Are you looking for an exciting...

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Executive Director, Pricing and Commercial Contracting
Negotiable, California

Title: Executive Director, Government Pricing and Commercial Contracting Overview: A top 10 bioph...

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Sales Manager EU
Negotiable, Netherlands

Sales Manager EU A dynamic and innovative client, whom have a global footprint, provide research ...

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Associate Director, Digital Marketing
Negotiable, New York

Title: Associate Director, Multichannel Marketing Location: Greater New York City Area (work from...

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