RESEARCH TRIANGLE PARK, NC–(Marketwired – July 05, 2017) – About 81% of surveyed Top 10, Top 50, and small pharmaceutical and medical device firms build launch sequences from scratch for each product, according to a pharmaceutical launch excellence study published by Cutting Edge Information.
Compared to the 81% of surveyed pharmaceutical firms that build each product launch sequence from scratch, 13% use a launch sequencing template, and the remaining six percent of surveyed life science firms do not change launch sequences between products, according to the study, Pharmaceutical Product Launch Sequencing: Maximizing Revenue and Achieving Global Market Access.
Additional data from the same study found that U.S. market access teams only build each launch sequence from scratch 71% of the time, and are more likely than global teams to use a template or single launch sequence for all products. When building launch sequences, all market access teams should carefully consider team resources and product revenue expectations.
“Customized launch sequences per product may be ideal, though not always possible,” said Adam Bianchi, senior director of research at Cutting Edge Information. “For example, coordinating a successful product launch sequence requires market access teams to invest in a variety of tools such as market research, regulatory guidance, and extensive internal communication.”
Data published in the study found that 100% of teams with a global responsibility, as well as teams responsible for the EU, design launch sequences from scratch for every product. Having only one launch sequence for all products is likely an option that is available for smaller pharmaceutical companies.
Small pharma and medical device companies sometimes have a relatively narrow product portfolio within a range of related therapeutic areas, allowing launch sequencing approaches to be shared between products. Small companies also face different resource constraints than larger Top 10 and Top 50 companies, which may require them to reuse a previously designed launch sequence.
Pharmaceutical Product Launch Sequencing: Maximizing Revenue and Achieving Global Market Access, available at https://www.cuttingedgeinfo.com/product/pharmaceutical-launch-sequencing/, guides drug companies on how to maximize their margins when launching new pharmaceutical products around the world. The study identifies key trends in how companies approach launch sequences and what drives decision making among internal and external stakeholders. Some of the best practices and key initiatives covered in the report include:
- Cross-functional coordination to support successful launch sequencing within the organization
- Providing important regulatory and market guidance to shape the product launch.
- Developing launch sequences and using tools — such as computerized optimizers and payer research — to make informed launch decisions.
- Determining a product’s launch cascade, outlining the various stages at which the company will bring the product to new countries/markets.
- Identifying the factors that influence each particular market, as well as year-over-year trends in key markets.
To find out more about launch sequencing and other pharmaceutical benchmarking research, please download the brochure at https://www.cuttingedgeinfo.com/preview/pharmaceutical-launch-sequencing-data/.
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MEDIA CONTACT:
Elio Evangelista
Senior Director of Commercialization
Cutting Edge Information
[email protected]
919-403-6583
