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Recent market entries have illustrated that there are a critical core set of factors for cardiovascular products as well as other therapeutic areas: 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 report, Success Factors and Failure Points in Cardiovascular Product Launches, explores each aspect of this framework for launch success and provides a cardiovascular segment as well as a data segment representing other therapeutic areas combined. This 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.
Pharmaceutical; Medical Device; Biotech; Health Care; Chemical; Manufacturing; Diagnostic; Consumer Products; Media
GlaxoSmithKline; Bristol-Myers Squibb; Roche; Lilly; Novartis; Merck; AstraZeneca; Genentech; Phillips; TGC MedTech; MedImmune; Abbott; Amgen; Bayer; Actelion; Cephalon; Inc.; Teva Neuroscience; Novo Nordisk; Amylin; Laboratorios Deramtologicos Darier; IDS Canada; UCB Pharma; Bayer Schering Pharma; Quintiles; MerckSerono; Servier; Ther-Rx; ProCaps Laboratories; Baxter Healthcare; Urologix; Synapse biomedical; Talecris; NicOx; Eisai; Direct Supply; Shire; ChemGenex Pharmaceuticals; Takeda Pharmaceuticals
The new product launch landscape for cardiovascular products and other therapeutic areas 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.
Differentiating Your Product - Secondary Benefits Can Be Win Themes: Differentiated positioning begins on factors established in clinical trials – such as efficacy, unmet needs, safety and target patient population. Secondary positioning factors have less overall impact – but can be useful in a crowded market – and are often more directly influenced through Marketing. Using secondary benefits can be an effective strategy for positioning a product in a highly competitive market.
Market Entry Requires Investing At and Above Market Leader Levels To Win Share of Voice: More than half of the Total Benchmark Class – 64 percent - favor spending 101 percent to150 percent of the market leader’s investment level during product launch.