Market research budgets for new drug development are not cheap but often do pay dividends, says a new study from Cutting Edge Information.
The Durham firm says early marketing efforts range from around $7 million to more than $26 million and make up some 28 percent of the overall marketing budget. If a drug company holds back on early spending, Cutting Edge says they will miss “the opportunity to strategically position their products and grow the market years before launch.”
For a summary of the report, visit: www.pharmamarketresearch.com
