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SAGENT is a specialty injectables company that competes in a crowded generic marketplace against global pharmaceutical giants. Many of these competitors are 20, 50 or 100 times the size of SAGENT. Against these powerhouse brands and budgets—and in a generic market with consistent downward pricing pressure and target audiences buying on price with little or no brand loyalty—we set out to establish SAGENT’s unique value proposition, build a differentiated brand experience and create preference for SAGENT’s products.
Unlike branded pharmaceuticals where marketing professionals and sales representatives can sell on benefits (clinical efficacy, less side effects, etc.) vis-à-vis competitive offerings, generic pharmaceutical products are identical from competitor to competitor inside their packaged presentations. However, in an industry plagued by look-alike, sound-alike drugs, SAGENT concluded that products didn’t HAVE to look alike. Instead, each package and label is designed to be unique, easy-to-read and highly differentiated for each product.
We developed a strategy centered on patient safety and helping caregivers to reduce the risk of medication errors. We created a brand—PreventIV Measures℠— to communicate these benefits and to help SAGENT own this innovative and proprietary approach to packaging and labeling.
Every SAGENT product has been launched and promoted as having PreventIV MeasuresSM — only from SAGENT— that created both a differentiated selling point and a barrier SAGENT’s competitors found difficult to match.
Since 2008, SAGENT has logged a growth rate of more than 186,000%—from approximately $10 million in sales to a record high in excess of $320 million by the beginning of 2015. Entering 2016, Sagent had annual revenues approaching $320 million. SAGENT was ranked #1 in Crain’s Chicago Fast Fifty in 2013 and is #7 on the same list in 2014. SAGENT’s PreventIV Measures℠ won the 2014 MM+M Award for Best Integrated Campaign and a prestigious Chicago Innovation Award for its contributions to advancing patient safety.
At the ASHP Midyear, SAGENT stole the show with eye-catching displays, engaging customer activities and memorable messaging.
The PreventIV MeasuresSM storybook was an inviting and user-friendly way to address the challenge of medication errors and the benefits of SAGENT’s unique packaging and labeling.