Resourcing a Successful Product Launch: Activity Investments

STUDY OVERVIEW

The launch paradigm for new pharmaceutical products has evolved considerably over the past decade. To gain a foothold in the highly competitive marketplace, launch leaders can no longer rely on past experiences when budgeting for key product launch activities.

To assist biopharma leaders in developing competitive launch and pre-launch activity budgets, Best Practices, LLC undertook benchmarking research that examined the cost of key launch activities for launch year and the three years preceding launch.

In particular, the study benchmarks the average cost for 12 key marketing, education and market access activities for a new pharmaceutical product launch, by launch year and product type. Launch leaders can use this study to compare their budgets for key launch activities with current industry benchmarks.

Data in this study is presented for the following segments: drug type, launch year, market entry position, peak annual revenue projection, targeted physicians and therapeutic area.

KEY TOPICS

• Launch Activity Investment Benchmarks

• Total U.S. investment for pre-launch activities in four different budget years: Launch Year, Year -1, Year -2, and Year -3. Budget numbers include all resources invested in promotional, educational & market-access activities, excluding only clinical trial costs.
  
• Investment for products with projected peak revenue of $1 billion or less for the launch year and the three years preceding launch.
  
• Investment for products with projected peak revenue of more than $1 billion for the launch year and the three years preceding launch.

• On average, study participants spend the most on Agency Fees (excluding DTC) during launch year.
• For differentiated products entering an already established market, physician education receives the highest investment for launch year as well as one year preceding launch.

If you purchase Best Practice Database document(s), you will have 30 days from the date of purchase to apply some or all of the cost of the document(s) toward the cost of a Full Access Individual, Pharma, Group or University Membership. Write us at DatabaseTeam@bestpracticesllc.com or call David Guinn at 919-767-9179 if you have any questions.