Latest Pharmaceutical Launch Strategies Demonstrate Growing Importance of Thought Leader Engagement at Market Entry
CHAPEL HILL, N.C., October 24, 2011 – While some newly-developed bio-pharmaceutical products thrive upon launch, many more struggle in today’s crowded, competitive marketplace.
In order to differentiate the treatment benefits of their new products, companies must think strategically about clinical and scientific thought leaders, targeting and engaging those who often serve as the gatekeeper’s to a product’s acceptance in the medical community .
In fact, according to “Success Factors and Failure Points in Cardiovascular Product Launches,” more than 80% of participating bio-pharmaceutical companies in Cardiology have found that engaging thought leaders in the actual protocol designs for late-Phase clinical trials is a highly effective method for building product and treatment momentum.
In addition, participating companies rate Advisory Boards and Clinical Trial Involvement as the most effective strategies for cultivating a successful environment at launch, according to this primary research conducted by Best Practices, LLC.
The study, which examines the product manufacturers in the Cardiology therapeutic area, provides insights to a critical core set of functions and activities during product launch, such as engagement of thought leaders and education of key stakeholders.
Download a complimentary study summary at http://www.best-in-class.com/dr354.htm that includes best practices drawn from extensive primary research with 44 executives and managers from 38 leading pharmaceutical, biotech and medical device companies.
Other key insights include:
The full 182-page report presents launch leaders' perspectives on the current and future risk levels for an array of pitfall factors that can affect a new product launch. In all, the study contains more than 750 benchmark metrics and 39 executive narratives from leaders in the industry.
- Thought leader engagement is a critical success factor across all therapeutic areas. However, key relationship tactics score quite differently across Cardiology, Diabetes and the multi-therapeutic area class.
- Payers and patient advocacy are becoming more important constituents for educating the market. Importantly, Diabetes and Cardiology accord different relative importance to each of these constituents.
For more information on this study and other recent primary research studies, contact us at 919.403.0251 or at firstname.lastname@example.org.
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.