Moving from R&D to brand promotion: Building effective healthcare and pharmaceutical brands
The key element of success of any pharmaceutical brand besides efficacy, safety, cost and accessibility, is effective brand building.
The process of pharmaceutical branding encompasses various brand building steps through which companies aim to transform a new chemical entity (NCE) into a recognizable brand with associated values. These crucial steps further create more value from the molecule or the NCE, above and beyond the obvious benefit and, at the same time, help to differentiate the molecule from its competitors, thereby creating a sustainable brand with unique brand values.1.
History has been witness to the fact that it takes brilliant marketing strategies and tremendous brand building efforts to create the best-selling drugs of all time.