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Best Practices in New Product Commercialization
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Study Overview
Long and costly product development cycles make it essential for pharmaceutical companies to maximize use of limited staff and resources for the development of compounds with the greatest potential market value. Leading companies are integrating commercial insights earlier and earlier into the new product development process in an effort to more quickly identify and target promising compounds, reduce development cycle time, focus resources for greatest impact and increase their potential for launching a blockbuster drug.
Best Practices, LLC conducted research for this report to identify winning strategies, structures, and best practices in early-stage product commercialization (pre-clinical, Phases I and II) and portfolio management. Best Practices also sought to clarify and codify Global Product Strategy’s placement in the corporate organizational chart to determine a best fit for the group to provide optimal support.
Executives at biopharmaceutical companies can use this research to improve early-stage decision making and enhance product design to gain an overall competitive advantage in the marketplace.
NOTE: The data in this research are segmented into two parts: the Full Benchmark Class and Large Pharma.
Key Topics
- Early Commercialization Structure
- Functional Involvement in Early Stage Commercialization (ESC) Activities
- Cross-Functional and Regional Collaboration
- Essential Employee Skills and Experience
- Investment Decision Leaders
- Value of Early Commercialization
Key Metrics
- Early Stage Commercialization Organizational Structure
- Job Title of ESC Leader
- ESC Function by Reporting Lines
- FTEs in ESC
- ESC Functions
- ESC Functions at Pre-Clinical, Phase I, Phase IIB and Phase III
- ESC Team Meeting Frequency with Stakeholders
- Functions Serving on Decision Committee
- Functions that Drive Investment Decisions
Key Findings
- Early stage groups employ fewer than 50 FTEs at 59 percent of the companies in this study. Large Pharmas have more ESC employees with 33 percent of respondents employing more than 200 FTEs.
- Successful pharmaceutical product development demands a cross-functional approach, beginning in the pre-clinical phase.
- Market Research involves more ESC groups at more developmental phases than any other benchmarked activity.
Methodology
This research was based on benchmark survey data from 18 pharmaceutical and biotechnology companies and in-depth executive interviews with 10 early-stage leaders from those organizations.
Sales and Marketing > New Product Development and Launch > Managing Development Process > Development Activities
Industries Profiled:
Health Care; Pharmaceutical; Diagnostic; Biotech; Consumer Products
Companies Profiled:
Abbott; Allergan; Alexion Pharmaceuticals; Altus Biologics; Amgen; AstraZeneca; Bayer; Eli Lilly and Company; Genentech; GlaxoSmithKline ; Human Genome Sciences; Intervet International (part of Schering-Plough); Merck; Neurocrine Biosciences; Novartis; Shire; Teva Pharmaceutical Industries Ltd; Solvay Pharmaceuticals; Vertex Pharmaceuticals
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Sales and Marketing > New Product Development and Launch > Managing Development Process > Development Activities
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