Why do you think advertising promotes innovation? I would see it as the other way around, why innovate when you can just invest more into advertising an inferior product?
Because consumers aren't stupid and that doesn't work, probably? Because your competitor will gladly advertise their more innovative and better product, and yours will look inferior?
If you drug looks inferior to competitor's ad, you will get better return by hiring a better ad agency, not a researching a better drug (that's a crap shot at best times).