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Understanding Product Launch Spend to Win in the U.S. Healthcare Marketplace
CHAPEL HILL, N.C., Sept. 5, 2014 /PRNewswire/ -- Biopharmaceutical leaders that are launching new products are often faced with the dueling challenges of containing costs while producing a successful launch. To handle these twin pressures, launch leaders need to know two things: what are adequate investment levels for the various launch activities and how much should they spend on each activity at key points pre-launch and at launch.
According to recent research, brands tend to allocate about half of their total four-year launch budget to activities carried out in the final launch year. Specialty products invest 58 percent during the three years leading up to launch year and 42 percent in the final launch year. This contrasts with primary care products, where 44 percent of the total launch budget was spent before launch and 55 percent in the launch year.
The related report, "New Product Launch Spend: What It Takes to Win in the U.S. Market," provides leaders with competitive launch and pre-launch activity budgets to ensure successful U.S. market entry for new products.
Key study topics covered include:
- Launch Investment Benchmarks
- Investment Data by Product Segment
- Launch Activities
- Launch Investment Allocation
- Success Factors
This 67 page research study provides more than 700 metrics and an array of several other performance measures that can help brand and marketing leaders as they develop budgets and allocate funds for their new brands. The benchmark class of this research consisted of 27 executives and managers at 23 leading biopharmaceutical companies.
To access the full report, or to download a complimentary summary containing insights found in this report, click on the following link: http://www.best-in-class.com/dr350.htm.
For more information on other recent primary research studies, contact us at 919.403.0251. For related research, visit our Best Practices, LLC website at http://www.best-in-class.com/.
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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. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations. 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.
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