Finances
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 medication on Novo Nordisk, which is able to begin promoting its vastly standard weight problems drug Wegovy in Germany later this month, in Munich, Germany, July 17, 2023.
Christine Uyanik | Reuters
Drugmakers spent practically $500 million on commercials for obesity and diabetes treatments within the U.S. throughout the first seven months of this yr, up 20% from the identical interval a yr in the past, in keeping with new data launched Friday.
The information, from promoting analytics agency MediaRadar, demonstrates the frenzy by firms to seize new clients 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 yr for his or her potential 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. well being 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 Ozempic, Wegovy, Novo Nordisk’s diabetes capsule Rybelsus and Boehringer Ingelheim’s personal diabetes remedy Jardiance, which is ready to face drug price negotiations with the federal Medicare program.
Collectively, these remedies accounted for $358 million, or about three-quarters, of complete advert spending for weight problems and diabetes medication throughout the first seven months of this yr, in keeping with the information.
Spending on Ozempic adverts was $120 million throughout that point interval, up 23% from the identical interval final yr.
MediaRadar mentioned in an announcement that Ozempic’s rise in recognition has had a “constructive impression on related medicines.”
“It is a basic case of ‘a rising tide lifts all boats,’” MediaRadar CEO Todd Krizelman mentioned within the assertion. “As Ozempic’s recognition grows, so does the demand for different weight reduction and diabetes medication, particularly Wegovy, which has made a big mark this yr, significantly from Q2 onwards.”
Wegovy accounted for greater than $20 million in advert spending throughout the first seven months of the yr, primarily as a result of a spike in spending from April to July, in keeping 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, akin to on-line video.
