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Study: "Lock in your launch forecast using insights from successful recent launches"

CHAPEL HILL, N.C., Mar. 02, 2021/PRNewswire/ -- New product launches often define a company's marketplace success.

Yet, many pharma launch teams struggle to develop a strong product launch evaluation process and system that drives successful market entry.

Best Practices, LLC undertook a benchmarking research study titled “Pharmaceutical Product Launch Evaluation Excellence: Processes and Measures to Evaluate Launch Success” to inform launch leaders on how to identify and evaluate the performance measures that lead to successful pharmaceutical product launches. The new study will help pharma and biotech manufacturers build launch systems that effectively assess launch performance and mitigate the risks associated with overspending or underfunding critical programs.

The study found that although most companies conduct ad hoc evaluation processes tailored for each launch, interviewed executives suggested that organizational perspectives—finance, brand, prescription—often directly influenced how their respective companies viewed and conducted launch evaluations.

From the brand perspective:

“We look at the effectiveness of the launch from a brand performance perspective. Dollar sales help determine whether market share expectations were met. There's also some qualitative aspects of the launch. After the launch meeting, the attendees have to fill out a survey that encompasses all of the preparation and training materials put in their hands leading up to the launch through the sessions that take place at the launch meeting,” said one study participant.

This primary research study engaged 37 launch leaders through a survey instrument and interviews.


The study focuses on five key areas:

  • Understanding Product Launch Evaluation Process
  • Determining Role of Forecasting in Evaluating Success
  • Identifying Key Performance Measures Used
  • Reviewing Importance of Specific Launch Evaluation Performance Measures
  • Describing Process and Timetable for Recalibration of Launch Targets

The report will help launch leaders identify and evaluate pharmaceutical product launch performance measures. This 55-page report also reviews the role of forecasting in evaluating launch success, and examines the critical success factors and lessons learned for launching new pharmaceutical products in the 2020s.

To download a complimentary study excerpt, go to: https://www.best-in-class.com/rw88.htm.


ABOUT BEST PRACTICES, LLC

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.