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Best Practice Database
Product Launch » Product Launch Excellence
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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.