With new drug approvals slated to increase as a result of new FDA initiatives, 2013 could be a pivotal year for the drug industry, which has seen a decline in approvals over recent years and a commensurate drop in drug promotion spending, according to John Kamp, Coalition for Healthcare Communication executive director. In a recent study, researchers found that drug promotion spending peaked in 2004 at $36.1 billion and sank to $27.7 billion by 2010. "It is not surprising that drug promotion rates declined in recent years as approvals slowed down," Kamp said. "But current upward approval trends, combined with CDER programs that take a fresh look at the approval process, certainly indicate that marketing opportunities will increase in 2013." Read more.
Published in Brief: