Can Branding help to mitigate the risks of the Pharmaceutical industry?

There is an article today in the N.Y. Times, "FDA says Bayer failed to reveal drug risk study," that makes me think about the importance of branding. Particularly in the Pharmaceutical industry, branding seems of the utmost importance. Companies face constant risk- the threat of competition or even lawsuits as new product info becomes known and discoveries are made. Branding, if done properly, may be able to help mitigate some of the risks involved in this industry, by helping to retain customer’s loyalty even in the face of crisis. But the question is, is it harder to build a brand in this industry? An industry where many people chose their products based on price: choosing a generic or store brand over a recognized label. Plus there is the added difficulty of insurance for prescription products, since insurance policy's automatically shift the consumer from the name brand to a cheaper generic version of the product once it becomes available.

Just something to think about.

- Berit Auerbach-Lynn