RESEARCH TRIANGLE PARK, NC – Drug companies spend 345% more on product marketing in Phase 2 clinical development than they do during Phase 1, according to a new report, Early-Stage Pharmaceutical Marketing Budgets: Preparing for Product Launch, published by business intelligence firm Cutting Edge Information.

Pharmaceutical product development teams spend, on average, just $266,000 on marketing activities during Phase 1 of clinical development. Commercialization activities at this early development stage include market research conducted to assess and to predict what the competitive landscape might look like after drug launch; thought leader development work, including thought leader relationship building and thought leader programs; competitive intelligence analyses; and preliminary product reimbursement and pricing work.

Once a drug’s Phase 1 data are in and companies make the decision to invest in larger Phase 2 studies, companies open their wallets to invest more heavily in these types of market preparation activities. Cutting Edge Information analyzed early-stage marketing spending for 14 brands across numerous therapeutic areas and developed by a variety of pharmaceutical and biotech companies. On average, drug developers spent 345% more, or $918,000, during Phase 2.

“Cutting Edge Information published ‘Early-Stage Pharmaceutical Marketing Budgets’ to give our clients an off-the-shelf tool to help them plan their commercialization budgets early in development,” said Jon Hess, research team leader at Cutting Edge Information and lead author of the report. “In working with numerous clients, we’ve found that this type of benchmarking data plays a critical role in preparing the market for rapid sales uptake following the launch of new products.”

According to Hess, the report is available for sale through the company’s website. Industry executives and others interested in the topic can download a free summary of “Early-Stage Pharmaceutical Marketing Budgets: Preparing for Product Launch” or purchase the report at www.EarlyStageMarketing.com.

Hess says that “Early-Stage Pharmaceutical Marketing Budgets” covers numerous marketing sub-categories, including the following:
* Thought leader programs and activities
* Medical education
* Medical information
* Market research
* Competitive intelligence
* Pricing strategy and analysis
* Pharmacoeconomics
* Reimbursement
* Advertising and promotions

To view a summary of “Early-Stage Pharmaceutical Marketing Budgets: Preparing for Product Launch,” visit www.EarlyStageMarketing.com or contact Elio Evangelista at 919-433-0211.

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