It’s been a busy media period for AstraZeneca as the Food and Drug Administration approved generic versions of the blockbuster cholesterol-lowering pill Crestor, rejecting a last-ditch and controversial effort by the company to stop cheaper competition from reaching pharmacy shelves.
The move should considerably decrease the price of the drug and result in a sharp loss of market share for AstraZeneca. The brand-name drug has a retail price around $260 a month, according to GoodRx.com. With multiple generics now coming onto the market, the price could eventually drop as much as 80 to 90 percent.
In the fight for media attention between brand named drugs, sudden price changes – regardless of the underlying event – drive coverage. In the case of Crestor the legal battle has been going on for some time given the revenue at stake.
Crestor July ratings advanced an amazing +15 to close July at a new high of 62, which also propelled the drug brand to the #6 position out of nearly 200 name brands in the drug sector. Media momentum has been steadily increasing over the last 3 months and sentiment is predominantly neutral.
The introduction of a generic does not necessarily spell doom for Crestor’s media rating future, but it does spell the end to brand dominance coverage. Like other brand-named drugs, any coverage related to LDL cholesterol is likely to reference Crestor for the near future. Are cholesterol or heart disease storylines envogue? Here are two prime examples where cholesterol coverage has a strong play: high blood pressure and heart disease. Both are in very strong rating territory at 85 and 92 respectively. Blood pressure storylines are holding steady, while hearts disease medai volumes are markedly moving higher.