If nothing else, the ad campaign for Sepracor’s sleeping pill is getting attention. Some Wall Streeters may believe Lunesta isn’t selling as well as hoped, but the ads repeatedly grab eyeballs, according to the latest ranking by IAG Research, which found that two Lunesta ads were the most memorable during the 2006-07 television season.

In fact, Lunesta ads regularly top the list, based on recall rankings. “Those keep making the list because the ads are extensions of creative campaigns,” Fariba Zamaniyan, a senior vp at IAG’s pharma practice, tells us. “This sends a message to advertisers that you don’t need to reinvent the wheel each time. The ads have a lot of memorability.” And which other ads registered? The Nasonex bee was No. 4 and the Rozerem beaver was No. 5, Pfizer’s Zyrtec took the No. 3 spot. Here’s the complete ranking.

The Lunesta ads are so memorable that Sepracor has managed to breeze past criticism much as the moth in its commercial flits about. As Consumer Reports has noted, one Lunesta ad flouts the industry’s own guidelines about providing additional info about alternatives, such as lifestyle changes (see Principle 9). And earlier this year, National Public Radio deconstructed a Lunesta spot, showing how language was massaged to highlight benefits.

Hat tip to the WSJ Health Blog