Are you trying to name your drug internally? It might not be a bad idea if you have linguistic creativity, a willingness to embrace discomfort with never-before-seen names, and up-to-date expertise in medication safety, trademark analysis, market research and brand strategy. But if you don’t, it’s worth investing in a pharmaceutical naming agency.
Working harder so you don’t have to
We hear it all the time: We know you want a single name that’s short, easy to say, easy to spell, memorable, globally marketable and has an obvious meaning. Sure, you want to call your medication Cureitall or Bestlife, but the bad news is you can’t; even Kureitall and Beslyfe are off the table. The reality is that it’s simply not possible to check off all those boxes for a name while also protecting your intellectual property (IP) and getting approval from global regulatory bodies.
With that said, designing a name for an asset is more than picking something that sounds cool or obvious. There are constraints to work within, and those constraints are continuously evolving with every new name approval and trademark filing.
Moreover, you’ve likely invested significant resources into developing your product to improve the lives of patients. Your drug has undergone a gauntlet of efficacy and safety testing, and you’ve been committed to lab testing and clinical trial research to verify its viability. But you can’t bring your drug to market until you have a drug name that can survive the rigor of roadblocks and red flags. Sound overwhelming? A seasoned pharmaceutical naming agency will make it seem effortless.
Without a pharmaceutical naming agency and going at it internally, you will more than likely find yourself creating a name that is ultimately rejected. When this rejection brings you back to square one and delays your launch, it can potentially result in a daily loss of as much as $8 million in revenue. What you invest now with a pharmaceutical naming agency can save you time, money and headaches later.
Finding integrated expertise for optimal results
As you’re researching and vetting potential pharmaceutical naming agencies, don’t be afraid to ask the following questions:
- Are there full-time branders or freelancers creating my names?
- Are the names strategically and freshly created for me or pulled from some sort of bank?
- Will a pharmacist or other safety expert be previewing my names?
- Is there a trademark analyst pre-screening my names before I see them?
- What role do linguistics and market research play in my name development process?
You’ll want a pharmaceutical naming agency with years of experience in brand name development and monitoring continuous global regulatory and safety changes while watching the pharma space grow and transform. When all of this is integrated with creative output from verbal expertise, remarkable results with unique, differentiated positions that play to your brand’s strengths are created.
Working with you, not against you
Here at Addison Whitney, we have it all. Our team of experts that specializes in brand identity development is ready to help you develop a clean, safe, smart and strong pharmaceutical brand name. Our creative, brand strategy, trademark, medication safety, linguistic and research teams bring their experiences, professional networks and knowledge together to fluidly collaborate with your team.
While a good naming agency strives to do the job for you, a great naming agency aspires to collaborate with you. We’ll work with you to create a name that’s both marketable and safe so you can focus on emphasizing the long-term impact of your drug. We’ll take the time to explore linguistic opportunities, phonetic alternatives, symbolism and metaphors, strategic letter placements and all the other creative opportunities that go into solving your brand identity puzzle. As an extension of your team, you can be confident that your future brand name is in good hands so you can stay focused on your day-to-day operations.