What Is A Brand-Named Clinical Trial Worth?

Posted July 31, 2017 by
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The clinical trial is a vital stage in the life of any drug and its affiliated promises to the impacted healthcare and patient audiences, but why should a Company spend their valuable budgets on naming them in addition to the necessary spends of nonproprietary naming and branding the drug itself? There are several reasons why a Brand-named clinical trial is important, with one of the most influential being that it can begin to generate valuable early awareness of the new compound’s potential. With a consistent stream of new drugs being introduced to the market, perhaps in the same therapeutic area, it can be a real challenge to ensure that a new compound stands out amongst the multiple audiences, including financial, KOLs, press, social media, healthcare professionals, and patients.

Because of the wide array of audiences potentially interested in the outcomes of the clinical trials, the nonproprietary name may not be easily understood by a person unfamiliar with the healthcare industry. For example, a Brand-named clinical trial named “CHARISMA” sounds much better to a broader audience than a clinical trial called the “Clopidogrel for High Atherothrombotic Risk, Ischemic Stabilization, Management, and Avoidance trial.” Companies will often use acronyms like these when naming their clinical trials.

Entice The Audience

A Brand-named clinical trial is a great tool to whet the appetite of the expected and discerning audiences, which may also include potential financers for smaller pharmaceutical companies. Creating a name for a clinical trial gives these audiences something to cling to and easily track as the evaluations and reporting proceed through the journey of the trial.

Distinguish The Drug From Others

A Company could create a new drug that has similarities to others, but still holds viability as a market entry due to variations in Route of Administration, Mechanism of Action, Dosage Form, etc. A Brand name associated with that drug’s clinical trial can be extremely helpful in elevating it above established competitors. Naming a clinical trial will begin to distinguish the drug from the others at much more early stage with heightening pre-launch expectations.

Generate Awareness And “Hype” Early On

So why exactly does all of this matter? Estimates are that it takes $1 billion to get a drug from an idea to the market. A Brand-named clinical trial will assist in generating awareness and notoriety for a drug much earlier than it would otherwise. This kind of early promotion can lead to things like more speaking engagements at trade shows to promote the drug, which are crucial in getting and keeping the compound front-of-mind for healthcare practitioners and patients alike. These clinical trials also leverage the non-proprietary name and  build dramatically to the proprietary name, which allows for a level of branding consistency that will pay huge dividends throughout the drug’s life.

Once a Company decides that a Brand-named clinical trial is the way to go, it becomes paramount to engage with an agency that has a process built to conquer this complicated space, and that will be able to follow a compound throughout the entirety of the branding process.  Beginning with naming a clinical trial is one of the first steps in assuring the success of a pharmaceutical Brand from trials to launch to legacy.

Tags:

Branding | Clinical Trial | Healthcare | Pharmaceutical Naming

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