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PBMs and insurers want your prescription money

World of DTC Marketing

For many, these coupons represent the difference between filling a prescription and going without lifesaving care, but there is a lot more here than just a co-pay coupon. In 2021 pharma provided a staggering $204 billion in price concessions for brand-name medicines to PBMs. These pricing scams hurt patients as well.

Insurance 226
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HHS: Prescription drug costs have skyrocketed in recent years

MedCity News

From July 2021 to July 2022, 1,216 prescription drugs saw price increases that soared past the inflation rate of 8.5% Another reported that in 2021, the American healthcare system spent $603 billion on prescription drugs, of which $421 billion was spent on retail drugs. for that time period, one HHS report showed.

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Pharma spent $3.9B on TV ads in 2021

World of DTC Marketing

(Endpoints) Pharma TV advertising boomed in 2021 – to the tune of $3.91 billion across prescription meds, iSpot reports. on <b>TV</b> ads in 2021. That’s an increase of 4.8% year over year, which may not sound like much but marks pharma’s steady growth through the pandemic.

Pharma 217
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Report: 10 Prescription Drugs Took Up 22% of Medicare Part D Spending in 2021

MedCity News

billion total gross Medicare Part D drug spending in 2021. KFF found that the 10 top-selling Part D drugs represented $47.7 billion of the $215.7 Eliquis, a blood thinner by Bristol Myers Squibb, accounted for the most spending out of these 10 drugs at $12.6 billion.

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10 things DTC marketers should focus on in 2021

World of DTC Marketing

KEY TAKEAWAY: Consumer behavior has changed due to the pandemic, and DTC marketers should be aware of how consumers will evaluate and choose prescription drugs. The post 10 things DTC marketers should focus on in 2021 appeared first on World of DTC Marketing.com. Change tends to be evolutionary, not revolutionary.

Marketing 271
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UK approves prescription-only melatonin drug for childhood ADHD

Pharmaceutical Technology

Melatonin has a prescription-only status and is strictly regulated in the UK, making this the first time it has been approved for use in this indication. Colonis then sent a corrective letter to the recipients, but a Prescription Medicines Code of Practice Authority panel pointed out that it didn’t specify this was required by the MHRA.

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The fairytale of DTC TV ads

World of DTC Marketing

Using the same ads to advertise prescription drugs repeatedly is a waste of money and doesn’t lead to sales. viewers surveyed in 2021 believe “they see the same advertisements too many times. A Prevention Magazine study dated had prescription DTC ads as being 7% effective in driving new Rx’s.