Social Media in Pharmaceutical Marketing

15 day(s) ago
URL: https://www.rootsanalysis.com/blog/social-media-in-pharmaceutical-marketing/
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The importance of the pharmaceutical industry as a global sector is undeniable. In 2014, pharmaceutical sales reached a milestone of USD 1 trillion. Apart from discovering and developing innovative healthcare solutions, pharmaceutical companies also need to market and promote their products to remain profitable. It is worth mentioning that the sales and distribution of pharmaceutical products is highly regulated. This is primarily due to concerns related to off-label promotion, substance abuse, medical fraud and the launch of products to cater to the selfish interests of pharmaceutical businesses alone, and many others. The existence of regional regulatory authorities is therefore essential to control the activities of this industry. In the US the marketing of prescription drugs is regulated under the federal Prescription Drug Marketing Act of 1987.

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