Weight problems, diabetes drug advert spending hit practically $500 million: report
A view of a plastic mannequin of a abdomen throughout an interview with Physician Thomas Horbach, specialist in surgical procedure, visceral surgical procedure and dietary drugs on Novo Nordisk, which can begin promoting its vastly common weight problems drug Wegovy in Germany later this month, in Munich, Germany, July 17, 2023.
Christine Uyanik | Reuters
Drugmakers spent practically $500 million on ads for obesity and diabetes treatments within the U.S. in the course of the first seven months of this 12 months, up 20% from the identical interval a 12 months in the past, in line with new data launched Friday.
The info, from promoting analytics agency MediaRadardemonstrates the push by corporations to seize new prospects after months of hype round Novo Nordisk‘s diabetes drug Ozempic and weight reduction counterpart Wegovy.
These medication and related remedies have soared in demand this 12 months for his or her means to assist sufferers lose undesirable kilos. The medicines, often called GLP-1s, mimic a hormone produced within the intestine to suppress an individual’s urge for food.
U.S. health-care suppliers wrote greater than 9 million prescriptions for Ozempic, Wegovy, and different weight problems and diabetes medication over the last three months of 2022, up 300% from early 2020.
MediaRadar compiled advert spending from nationwide TV broadcasts, print publications, newspapers and web sites, and social media platforms from Jan. 1, 2022 to July 31, 2023.
The highest 4 medication marketed have been Novo Nordisk’s Ozempic, Wegovy and diabetes tablet Rybelsus and Boehringer Ingelheim’s personal diabetes remedy Jardiancewhich is ready to face drug price negotiations with the federal Medicare program.
Collectively, these remedies accounted for $358 million, or about three-quarters, of whole advert spending for weight problems and diabetes medication in the course of the first seven months of this 12 months, in line with the information.
Spending on Ozempic adverts was $120 million throughout that point interval, up 23% from the identical interval final 12 months.
MediaRadar mentioned in a press release that Ozempic’s rise in recognition has had a “positive impact on similar medications.”
“It’s a classic case of ‘a rising tide lifts all boats,'” MediaRadar CEO Todd Krizelman mentioned within the assertion. “As Ozempic’s popularity grows, so does the demand for other weight loss and diabetes drugs, especially Wegovy, which has made a significant mark this year, particularly from Q2 onwards.”
Wegovy accounted for greater than $20 million in advert spending in the course of the first seven months of the 12 months, primarily resulting from a spike in spending from April to July, in line with MediaRadar.
However MediaRadar famous that Novo Nordisk in Could paused some key promotional promoting for Wegovy, particularly native and nationwide TV promoting.
MediaRadar mentioned many of the spending on the drug was for digital promoting, reminiscent of on-line video.
