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While myriad issues affect a new product launch, recent market entries have illustrated that there are a critical core of factors that can make or break a new product's early marketplace performance: the ability to differentiate, a defined target patient population, investment in launch activities, engagement of thought leaders, education of key stakeholders, demonstration of value, utilization of new technologies and avoidance of launch pitfalls.
Best Practices, LLC's study, Success Factors and Failure Points in Biopharmaceutical Product Launches: An Updated Road Map for Strong Market Entry, explores each aspect of this framework for launch success. The comprehensive launch study delivers qualitative and quantitative data on differentiation, pricing, physician and thought leader education, payer and formulary access, launch readiness, resource allocation and much more.
In addition, the study presents launch leaders' perspective on the current and future risk levels for an array of pitfall factors that can affect a launch, from patient and payer to physician and regulatory.
The new product launch landscape has never been more challenging with launch teams facing more potential pitfalls than ever. Best Practices®, LLC conducted this timely new benchmarking study to probe critical launch failure points and success factors.
Best Practices, LLC used both field surveys and interviews to complete this study. In all, 44 launch leaders from 38 different companies from the pharmaceutical, biotechnology and medical device sectors contributed data, reflecting on almost 30 products. In-depth interviews were conducted with veteran leaders from six organizations.