AZ, Roche and Shire: U.S. DTC Is Awful -- Can We Have It in Europe Too?
Senior execs at AstraZeneca and Roche said American direct-to-consumer drug advertising was the "worst" thing to happen to the industry in the last few years -- but both want to see it expanded to Europe. Authorities there are set to do their bidding. At an FT health conference in London:
"Direct-to-consumer promotion was the single worst decision for the industry," [said] William Burns, Roche's head of pharmaceuticals.That view was echoed by Angus Russell, the chief executive of U.K.-based Shire. "The marginally-different-and-market-it-like-hell model is over," Burns (pictured) said. He then argued that while the U.S. had gone overboard in allowing drugmakers to promote direct to patients, Europe was too restrictive. The European Commission is drawing up legislation that would allow a degree of information to be disseminated about medicines by their makers, though advertising pharmaceuticals would remained banned.
AstraZeneca PLC (AZN) Chief Executive David Brennan said this is a matter of "when, not if," although this move wouldn't necessarily lead to U.S.-style direct-to-consumer advertising.Don't bet on it. American drug companies can't help pushing the envelope. Why should European ones be uniquely blessed with self-restraint?