Redefining media opportunities

PounceNow

January 10th, 2009 at 11:01

How will drug makers spend their pen money?

viagra

I will miss my Viagra note pad. And my Rogain roller ball pen. And my Nexium coffee mug.

Expect to see more doctors and dentists shopping at Staples, now that drug companies have enacted a voluntary ban against branded tsochtkes. Any doctor that didn’t have the sense to stockpile hundreds of Vioxx pens before the pain reliever was pulled from the market will now have to join the ranks of common folk and write with a 19 cent Bic ballpoint.

Naturally, the $19 billion advertising specialties industry is in a tizzy.

Pharmaceutical companies were the largest single purchaser of branded giveaway items, plunking down customer Andy Cohen, editor of Counselor magazine, published by the Advertising Specialty Institute.

If Cohen’s numbers are correct, the fact that drug makers accounted for 10% of all the advertising specialties sold in 2007, that means approximately $1.9 billion has been shaved off the marketing budgets of companies like Pfizer, Merck and Bristol Myers Squibb.

The Pharmaceutical Researchers and Manufacturers of America says its new code, governing interaction with medical care providers, seeks to stop the many marketing freebies to focus on four things:

  • inform healthcare professionals about the benefits and risks of our products to help advance appropriate patient use,
  • provide scientific and educational information,
  • support medical research and education, and
  • obtain feedback and advice about our products through consultation with medical experts.

This seems like a boon for public relations agencies and marketing services vendors who have expertise in healthcare. By not gifting doctors with pens and logo-embroidered clothing, there’s a significant amount of marketing money that can be re-allocated to more substantive awareness programs that ultimately should benefit the drug companies, doctors and patients.

Now that we know the next big growth category for PR agencies in 2009, one big question remains unanswered:  Will the pen manufactures and tsotchke sales reps qualify for an AIG-style government bailout?

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