RESEARCH TRIANGLE PARK, N.C.--()--The success or failure of a pharmaceutical product launch often comes down to its launch sequence strategy, according to a study by Cutting Edge Information.
“Pharmaceutical Launch Sequencing: Mapping Commercialization Opportunities to Maximize Global Value and Expand Market Access”
Drug companies look to new launches for a high financial shot in the arm, and planning for them involves high-level executives who prioritize the new product above many other activities. Although the task of preparing a successful global pharma product launch sequence strategy can be arduous and time-coming, executives have to allocate enough time to get this sequence right.
Cutting Edge Information’s study, “Pharmaceutical Launch Sequencing: Mapping Commercialization Opportunities to Maximize Global Value and Expand Market Access,” found that top-level executives are generally not involved directly with the launch evaluation process; however it is important that these leaders approve the metrics used to set launch prioritization. If these executives are left out of the prioritization process, they will likely want to consider additional factors, which could cause the whole process to be reevaluated and add unneeded stress at the time of pharmaceutical product launch.
The study also found that companies spend an average 143 hours every year planning for pharmaceutical launch sequencing. Among the companies surveyed, five spent between 100 and 200 hours per product on this task. Small and mid-sized pharmaceutical companies may spend less time on their global pharmaceutical launch sequence strategies, but they are also less likely to launch in multiple markets in quick succession. Without the financial and structural resources that larger drug companies possess, launch sequences becomes more difficult.
“Pharmaceutical Launch Sequencing: Mapping Commercialization Opportunities to Maximize Global Value and Expand Market Access” (www.cuttingedgeinfo.com/research/marketing/global-launch-sequencing/) examines the market potential for launching new drugs in 14 individual countries, including the United States and European markets. The research also benchmarks global launch sequencing metrics. Use this report to:
- Leverage internal expertise to maximize product revenue through careful pharmaceutical launch planning.
- Understand and navigate AMNOG and other changes affecting product launches.
- Prepare for future growth in key emerging markets.
For more information about global brand launches and market access benchmarking, contact Cassie Demeter at 919-433-0389.