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Small, Highly Concentrated Nature of the Colorectal Cancer Market Kept Promotional Spend by Drug Companies Relatively Low in 2006
December 31st, 2007
2007 DEC 31 -- Decision Resources and Millennium Research Group have published a new report that finds that the small, highly concentrated nature of the colorectal cancer market kept promotional spend among drug companies relatively low in 2006, especially compared to other markets with similar value. According to the new report entitled Brands & Strategies: Colorectal Cancer, the leading competitors in the colorectal cancer drug market spent just $25 million in 2006 to promote their respective brands to physicians and consumers. "Because of the relatively low number of physicians involved in the treatment of colorectal cancer, companies are able to employ small, specialist sales forces at a much lower cost than would be required for a typical primary care sales force," said Victor Li, Ph.D., analyst at Decision Resources. "Bristol-Myers Squibb and Genentech were the leading competitors in terms of promotional spending in 2006, investing over $6 million to promote Erbitux and Avastin, respectively." The report also finds that most physicians identify Genentech when asked what pharmaceutical company comes to mind when they think of treating colorectal cancer. Genentech ranked "best" in all of the eight factors surveyed: product quality; trial design; post-marketing trials; product innovation; patient assistance program; sales force; support for investigator- sponsored trials; patient education; and marketing. Sanofi-Aventis held a solid second place by ranking "second best" on six of the eight factors. Keywords: Colon Cancer, Colon Carcinoma, Colorectal, Gastroenterology, Oncology, Decision Resources. This article was prepared by Clinical Oncology Week editors from staff and other reports. Copyright 2007, Clinical Oncology Week via NewsRx.com.
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