Brand Institute Vice President Expands on the Meaning of a Global Pharmaceutical Brand Name

MIAMI, Feb. 23, 2023 /PRNewswire/ -- A global brand name for a new pharmaceutical product is generally accepted as a desirable marketing strategy. Global names allow for greater brand recognition and streamline brand marketing. Brand names that are global may also be safer for patients by potentially helping to prevent medication errors for international travelers and by promoting consistency in product information from online resources.

But what exactly does "global" mean? Alisa Umanskaya, Ph.D., Vice President of Brand Development, at Brand Institute explains, "A global brand name is one that is the same across all regions in which a pharmaceutical product is marketed." Various factors are considered when pharmaceutical manufacturers choose the countries in which to market their products, such as licensing agreements, country-specific pharmaceutical reimbursement policies, and even a company's resources.

In the early stages of drug development, when the product naming process usually begins, pharmaceutical companies don't always know the exact markets and regions of the world in which they will ultimately sell their products. Therefore, it may be helpful to consider the markets with the most pronounced regulatory challenges. "From a regulatory perspective, the markets with the most robust regulatory name review processes are the United States, Europe, Canada and Japan. These markets are typically a great starting point when considering global brand name development," Dr. Umanskaya continued.

Given appropriate resources, it may be preferable to take an exhaustive approach when selecting markets for a global brand name. "At a minimum, it is advisable to perform global trademark screens and a linguistic analysis of the proposed names, but a regulatory analysis is necessary prior to submitting your brand name to regulatory agencies."

About Brand Institute and our wholly owned regulatory subsidiary, Drug Safety Institute

Brand Institute is the global leader in pharmaceutical and healthcare-related name development, with a portfolio of over 4,000 marketed healthcare brand names, 1,300 USAN/INN nonproprietary names for 1,200 clients. The company partners on over 75% of pharmaceutical brand and nonproprietary name approvals globally every year with healthcare manufacturers. Drug Safety Institute is composed of former naming regulatory officials from global government health agencies, including Food and Drug Administration (FDA), European Medicines Agency (EMA), Health Canada (HC), American Medical Association (AMA), and the World Health Organization (WHO).

Contact:
James Dettore
Chairman & C.E.O.
[email protected]
www.brandinstitute.com

SOURCE Brand Institute, Inc.

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