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Best Practice Database
Product Launch » Market Entry: Metabolic and Cardiovascular Diseases
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As new products enter the highly competitive and crowded cardiovascular market, it is important for biopharmaceutical companies to differentiate their product during launch. Factors that shape a new cardiovascular product's market entry include how well the product is differentiated from existing therapies, product pricing and its benefits - ease of use, fewer side effects, etc.
Best Practices, LLC undertook a benchmarking study to highlight the effectiveness of different launch strategies around differentiation, pricing and product benefits. The study also analyses issues surrounding a product's safety and efficacy profile to establish how much more effective or safe a new cardiovascular product needs to be for a blockbuster launch. Launch leaders can use insights from this research to inform their market entry strategies for new cardiovascular products.
The research employed a data gathering approach that gleaned quantitative data from 44 executives and managers from 38 leading companies in pharmaceutical, biotechnology and medical device industries. In addition, six executives participated in in-depth interviews.