Obesity, diabetes drug ad spending hit nearly $500 million: report

Drugmakers spent nearly $500 million on advertisements for obesity and diabetes treatments within the U.S. throughout the first seven months of this 12 months, up 20% from the identical period a 12 months ago, in keeping with recent data released Friday. 

The information, from promoting analytics firm MediaRadar, demonstrates the push by firms to capture recent customers after months of hype around Novo Nordisk‘s diabetes drug Ozempic and weight reduction counterpart Wegovy. 

Those drugs and similar treatments have soared in demand this 12 months for his or her ability to assist patients lose unwanted kilos. The medicines, often called GLP-1s, mimic a hormone produced within the gut to suppress an individual’s appetite. 

U.S. health-care providers wrote greater than 9 million prescriptions for Ozempic, Wegovy, and other obesity and diabetes drugs throughout the last three months of 2022, up 300% from early 2020.

MediaRadar compiled ad spending from national TV broadcasts, print publications, newspapers and web sites, and social media platforms from Jan. 1, 2022 to July 31, 2023. 

The highest 4 drugs advertised were Novo Nordisk’s Ozempic, Wegovy and diabetes pill Rybelsus and Boehringer Ingelheim’s own diabetes treatment Jardiance, which is ready to face drug price negotiations with the federal Medicare program. 

Together, those treatments accounted for $358 million, or about three-quarters, of total ad spending for obesity and diabetes drugs throughout the first seven months of this 12 months, in keeping with the info. 

Spending on Ozempic ads was $120 million during that point period, up 23% from the identical period last 12 months.

MediaRadar said in an announcement that Ozempic’s rise in popularity has had a “positive impact on similar medications.” 

“It is a classic case of ‘a rising tide lifts all boats,'” MediaRadar CEO Todd Krizelman said within the statement. “As Ozempic’s popularity grows, so does the demand for other weight reduction and diabetes drugs, especially Wegovy, which has made a major mark this 12 months, particularly from Q2 onwards.”

Wegovy accounted for greater than $20 million in ad spending throughout the first seven months of the 12 months, primarily attributable to a spike in spending from April to July, in keeping with MediaRadar. 

But MediaRadar noted that Novo Nordisk in May paused some key promotional promoting for Wegovy, specifically local and national TV promoting. 

MediaRadar said a lot of the spending on the drug was for digital promoting, corresponding to online video.