TargetRx Awarded Patent for Innovative Method of Predicting Prescribing Behavior
Patented Approach Enables Pharmaceutical Companies to Focus Effort on the Drivers of Prescribing and Improving Effectiveness
Horsham, PA - October 2, 2006 - TargetRx, a pharmaceutical sales and marketing effectiveness company, today announced that it has been awarded a patent by the United States Patent and Trademark Office (U.S. Patent #7,080,027), titled "Method and System for Analyzing the Effectiveness of Marketing Strategies." Demonstrating the company's continued commitment to innovation, this newly patented method of predicting prescribing behavior allows TargetRx to provide highly actionable insights that help pharmaceutical companies improve sales and marketing performance.
TargetRx has revolutionized the industry's approach to evaluating sales and marketing effectiveness by focusing on how well a company influences physicians to prescribe its products for appropriate patients. Over the past six years, TargetRx has built a unique and powerful database of 200 million responses to questions collected from more than 70,000 U.S. physicians. The information that TargetRx derives from this database allows pharmaceutical companies to understand specific opportunities to grow market share and to make the best decisions regarding their sales and marketing initiatives. More specifically, with its patented analysis, TargetRx predicts prescribing behavior, uncovers the drivers of that behavior, and clearly identifies the actions that affect prescribing most effectively.
"This patent reinforces the unique power of our approach and our continued dedication to improving our clients' performance by providing valuable and actionable insight in a way that no other company can," said Mike Luby, CEO of TargetRx. "Our 'Method for Analyzing the Effectiveness of Marketing Strategies' is sound and proven to deliver high quality sales and marketing insights that help pharmaceutical companies make better-informed, strategic decisions that will ultimately increase physician prescribing."
About TargetRx
TargetRx provides pharmaceutical and biotech companies with unique insight into the true drivers of product choice and adoption for their brands, helping clients to confidently take the actions that will grow their businesses and help patients. Serving the majority of the top 30 pharmaceutical and biotech companies, TargetRx enables clients to significantly improve the launch of new products and indications, physician segmentation and targeting, creation of professional messaging and materials, and sales and marketing execution and effectiveness. All TargetRx solutions are powered by our AdvantageBuilderSM normative database and validated predictive models, created from capturing in-depth physician attitudes on the "four forces" of prescribing - product, payor, promotion and patient - on new launches, marketing campaigns and physician-rep interactions on over 500 pipeline and inline brands and modeling these attitudes against actual prescribing behavior. For more information, visit www.targetrx.com.
Media Contact:
Joe FordPhone: 215-444-8722
jford@targetrx.com