Biotech press release distribution - a look behind the curtain that will save you money
“I used the B3C newswire for a broad distribution of a press release, and I found B3C a pleasure to work with. B3C has cultivated a terrific distribution list including many publications across the globe that a Business Wire or PR Newswire won't hit. This really helps to focus the distribution into one that is most meaningful for a biotech company. I would recommend this press release distribution service to anyone in the biotech/pharmaceutical/drug development space.“
When you cooperate with a PR agency specializing in life sciences your press release will most probably be distributed through their media list and a wire service such as Business Wire, Globe Newswire, EQS etc. For public companies this can make sense because they must comply with regulatory requirements. But does it make sense for early-stage private companies with regard to the high costs involved?
Before I continue to delve into this topic we should consider what the core competencies of a PR agency are. PR agencies develop strategic communications solutions. It’s about optimizing the messaging to better raise awareness among stakeholders, creating campaigns, preparing key materials (such as press releases, website etc.), preparing the management for investor meetings and media interviews and so on. Although PR agencies have media lists which they use for media relations and interviews, their lists are probably not as comprehensive as those of a specialized service.
It might be the client’s wish to involve a wire service for the distribution of a press release. However, in this case the client may end up paying twice: For the PR agency’s media list (which usually includes only key media, see above) and for the wire outreach (which is known to have poor sector-specific circuits). Altogether, this can easily sum up to 2,000 € or more for an EU-wide distribution, depending on the circuit chosen. I assume that US companies pay roughly the same amount in US dollar for an US-wide distribution. These costs do not include the writing of a press release.
By the way, if a worldwide distribution is required, for big news for example, than the PR distribution costs go through the roof. Calculate 4,000 to 6,000 €/$ for a global distribution.
How to save money?
Biotech companies and their PR agencies should consider a specialized PR distribution service. B3C newswire is the leading press release distribution service focusing on the biotech and pharma trade media. In the last 15 years we have probably built the most comprehensive media lists and also serve channels usually not used by PR agencies and generic wire services.
We believe our first responsibility is to the biotech companies. In meeting their needs we must maintain reasonable prices. For example, we only charge a fraction of what biotech companies usually pay when a PR agency handles the distribution in cooperation with Business Wire, Globe Newswire or PR Newswire. And aside from that with B3C you’ll always benefit from a global distribution.