Pharmaceutical companies spend more to support a cardiovascular compound's development and commercialization than other therapeutic products, according to research conducted by Cutting Edge Information ( http://www.PharmaCardio.com ).
High-end commercialization budgets for retail cardiovascular drugs require $200 million and more. Mid-sized budgets tend to spend approximately $100 million. More budget support is needed as cardiovascular compounds are inherently and increasingly more costly to develop and launch thanks to more robust clinical trial requirements and more systemic side-effects.
Cutting Edge Information's report, "Cardiovascular Marketing: Budgets, Staffing and Strategy," concludes that the most significant portion of a company's total cardiovascular product budget is spent during the product launch -- 34%.
During this period, brand teams ramp up spending by as much as 120%. Spending for a cardiovascular product launch is considerably more costly than other therapeutic product launches; for example, a typical oncology team spends 26% of its budget on product launch. Even post-launch spending differs between oncology and cardiovascular therapeutic areas. "Phase IV budgets for cardiovascular products average 16.5% of total spending, but only 2.6% for oncology products," reported Elio Evangelista, senior analyst at Cutting Edge Information. "Cardiovascular product teams use post-launch studies to further market the drug." "Cardiovascular Marketing: Budgets, Staffing and Strategy" is a comprehensive report that uncovers key resource allocation and marketing strategies that pharmaceutical companies have implemented to propel their products ahead of the competition.