CHAPEL HILL, N.C. - Aug. 16, 2013 - While having a rich pipeline can be considered a "good problem," launching and promoting several products in the same therapeutic area within a short timeframe presents an array of challenges. With the pressure to reduce budgets mounting within both the pharmaceutical and medical device industries, it is critical that leaders learn how to share resources for two products in the same therapeutic area.
Executives have increasingly utilized a franchise approach as a successful cost-cutting tactic. Recent benchmark research shows that franchises are highly effective in driving not only sales force effectiveness, but also in enhancing customer targeting and reducing average sales force size and training.
The recent Best Practices, LLC report, "Best Practices in Launch Optimization: How Promotional Efficiency can be Leveraged to Support Multiple Products & Indications," can serve as a reference point for portfolio managers seeking to efficiently manage multiple products and indications in the same therapeutic area.
Other key issues addressed in the benchmarking report include:
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