|3rd April 2020
The choices made by the research and development team are central to the commercialisation of every pharma product, for example, about evidence generation during clinical trials.
Despite this, the commercial team’s involvement in pharmaceutical launches traditionally only begins in earnest during late Phase II or Phase III, after the release of the evidence and much of the value of the drug has been fixed.
Only then does the team seek to capitalise on the already defined profile of a product. However, to successfully launch a drug in the complex and hypercompetitive environment of today, pharma needs to think differently.
Success is dependent on considering where the product fits into the market today and tomorrow. This means pre-empting the competition, carving out a differentiated story and building the capability to deliver it. For the best results, start that process in the early stages of product development, while the evidence generation strategy is underway.
Blue Latitude Health speaks to Mark Assenti, Managing Consultant and the Head of our Early Stage Strategy service, about how this new way of thinking breeds successful product launches.
MA: The pharma market is more competitive than ever before and the way we interact with customers – including the patient – is changing. On top of this, there are new practices in the way healthcare is organised. The market is evolving, so it’s now more important than ever to assess the portfolio early on to optimise value.
From portfolio acquisitions to scientific communications, Early Stage Strategies encompass the big and the small. Ultimately, an Early Stage Strategy facilitates decision making. It involves looking at the market through both a commercial and medical lens and then developing a strategy for addressing the evolving challenges, based on the value of the product and portfolio. By taking this approach, you don’t just increase your chances of delivering at launch, but you also stake your claim in future markets.
|27th August 2020
Precision and personalised medicines are more than products, they are services in their own right. So, how should pharma approach this uncharted territory to ensure targeted therapies work for patients?