Avoiding Product Launch Pitfalls to Successfully Navigate the New Launch Landscape in the Biopharmaceutical Marketplace
CHAPEL HILL, N.C., March 28, 2014 /PRNewswire/ -- The landscape of pharmaceutical product launches is filled with stories of success and failure. Although they have always been somewhat unpredictable, pharmaceutical product launches in recent years have become even more difficult to execute successfully.
The marketplace has changed with payers becoming dominant factors and efforts to differentiate becoming more complex. How do differentiation, efficacy, and pricing influence a new product launch – and to what extent?
Launch leaders who participated in a Best Practices, LLC study noted that efficacy and unmet need remain the most attractive positioning tools for differentiating. But they indicated that an effective use of a tight target patient population/sub-population presents an opportunity where efficacy and unmet need may not be differentiating options for a new product.
The study, Success Factors and Failure Points in Biopharmaceutical Product Launches: An Updated Road Map for Strong Market Entry, surfaces best practice success factors that will help organizations avoid critical market-entry pitfalls and develop winning strategies for today's commercial marketplace.
In addition to delivering qualitative and quantitative insights on the key aspects of a launch, the 148-page report presents launch leaders' perspectives on current and future risk levels for an array of pitfall factors that can affect a launch. The pitfall areas touch on patient and payer pitfalls as well as physician and regulatory stumbling blocks. This global study will inform new product teams, marketers, brand managers and sales leaders who are facing upcoming launches, new indications and line extensions.
Best Practices, LLC used both field surveys and interviews to complete this study. In all, 44 managers and executives at 38 leading bio-pharma companies participated in the survey. In-depth interviews were conducted with leaders from six organizations who have decades of experience with pharma launches. The research report includes 11 of the Top 20 biopharma firms and three of the six interviews were with Top 10 pharma companies.
Topics covered in this study include:
- Winning on Differentiated Product Positioning
- Articulating Benefits that Shape Positive Market Perception
- New Product Pricing Strategy
- Thought Leader Engagement
- Winning Hospital Formulary Access
- Resource Allocation for Key Stakeholders
- Investment Requirements, Resource Allocation & Timing
- Pitfalls and Stumbling Blocks
To learn more about this report, download a complimentary report excerpt at http://www3.best-in-class.com/rr1278.htm. For related research, visit our Best Practices, LLC Web site at www.best-in-class.com/.
ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. Best Practices, LLC believes in the profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies.
SOURCE Best Practices, LLC