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Best Practice Database
New Product Development » New Product Planning
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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.