CEO DATELINE - Private equity, generic drug groups launch ad campaigns to boost industries
CEO DATELINE - Private equity, generic drug groups launch ad campaigns to boost industries
- October 28, 2019 |
- Walt Williams
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Two associations unveiled media campaigns last week aimed at elevating the public profile of the different industries they represent.
The campaigns by the American Investment Council and Association for Accessible Medicines have little in common other than timing. AIC is seeking to counter critics of private equity firms by highlighting their impact on the U.S. economy while AAM wants to raise awareness about the barriers generic drugs face in reaching patients.
AIC released a report Oct. 21 showing that the private equity industry supports more than 26 million U.S. jobs and approximately 5% of the nation's GDP. The group has also unveiled a new website and ads aimed at touting the industry's economic contributions.
"From helping rebuild America's manufacturing base to supporting millions of good-paying jobs in industries from tech to hotels to transportation and trade, private equity is a driving force for economic growth and opportunity for our country's economy and workers," AIC CEO Drew Maloney said in a statement.
AAM's seven-figure #DoesntAddUp campaign is meant to raise awareness about "generic and biosimilar industry's significant market access challenges and promote potential solutions to ensure patients can access their medicines." The campaign launched Oct. 23 with TV ads that will run on cable channels.
"This campaign explains why patient costs are going up when generic prices are falling, and explores ways to fix that untenable dynamic," AAM CEO Chip Davis said in a statement. "Educating policymakers is the first step toward remedying these challenges on behalf of America's patients."
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