Pharmaceutical Executive Europe - September 2006 - (Page 20)

What's in a Name? Although they exist in the shadow of the brands, generic names can be highly effective in communicating key information about a drug. formular y or pharmacy carries. Zocor will almost R. John Fidelino o marketers of branded medicines, generic names T cer tainly continue as a brand, both in prescription tend to be complicated, barely pronounceable is global creative director at and OTC, but its days as the exclusive brand of nuisances. At best they confuse; at worst they Interbrand Wood Healthcare. simvastatin will be over. encourage physicians, pharmacists and patients not to use the commercial or brand name. But to The value of generic names authorities concerned with overall healthcare issues, costs, reimbursements and making adequate For marketers of branded pharmaceuticals, generic healthcare available to the greatest number of names equate to generic drugs, which historically people, generic names become crucially important has made them of little or no interest as marketing once they represent generic drug availability. tools. After all, why focus on something that cannot So why do we need generic names? Why must be owned, or that encourages awareness and ever y prescription medicine have two names? Quite visibility once you no longer have exclusive simply, the brand name is a piece of intellectual ownership? As a result, the development of generic proper ty owned by a manufacturer and used for the names has been an organic outgrowth of R&D and commercial marketing of drugs. Once the compound manufacturing activities, with marketers having a loses its patent protection and becomes available to minor role and little interest. Today, however, while any manufacturer, it reverts to being called by its the brand continues to be the marketer's primary generic name a name that it has had all along, but vehicle for marketing and promotion, the generic which played second fiddle to the brand name . For name can be overlooked as a potent supporting the past 12

Table of Contents for the Digital Edition of Pharmaceutical Executive Europe - September 2006

European Overview: Competition Time
Growth Strategies: Survival of the Fittest
Pharma Defence Strategies: Fighting Fire with Fire
Biogenerics: The Evolution of Biosimilars
Branding and Marketing: What's in a Name?
Branding and Marketing: A New World Order
Legal: Balancing Acts
Q&A: Champion of Industry
Q&A: Courting Consolidation
Market Outlook: Top Five Trends

Pharmaceutical Executive Europe - September 2006