pharmaceutical firms mainly focus on the role of R&D. In this paper, we investigate the impact of advertising and product …’ performance is not only closely linked to their R&D activities but also to marketing activities such as advertising and product … differentiation. Since the 1990s, the return of advertising has become three times larger than that of R&D. In addition, we found that …

pharmaceutical firms mainly focus on the role of R&D. In this paper, we investigate the impact of advertising and product …€™ performance is not only closely linked to their R&D activities but also to marketing activities such as advertising and product … differentiation. Since the 1990s, the return of advertising has become three times larger than that of R&D. In addition, we found that …