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Pharmaceutical Product Launch Evaluation Excellence: Processes & Measures to Evaluate Launch Success

ID: PSM-230


Features:

2 Info Graphics

21 Data Graphics

128 Metrics

28 Narratives

8 Best Practices


Pages: 45


Published: Pre-2014


Delivery Format: Shipped


 

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919-403-0251

  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • STUDY SNAPSHOT
  • KEY FINDINGS
  • VIEW TOC AND LIST OF EXHIBITS
In this highly competitive and scrutinized marketplace, pharmaceutical and biotech companies have continuously examined the product launch process to cut costs and to increase performance. However, missing from the analysis is the last step of the process: evaluating the success or failure of the drug's release.

Excellence in product launch evaluation across multiple product launches sets protocols around the launch evaluation process, key performance measures and recalibration of targets post-launch. This research captures quantitative and qualitative data, yielding key findings and insights, around the current and future landscape of product launch evaluation at pharmaceutical and biotech companies.

Best Practices, LLC used both field surveys and interviews to complete this study. In all, 19 sales and marketing leaders contributed data. In-depth interviews were conducted with leaders from six of the participating companies.

NOTE: The data in this research are segmented into two groups: Full Benchmark Class and Large Pharma Segment.


Industries Profiled:
Medical Device; Pharmaceutical; Biotech; Health Care; Diagnostic


Companies Profiled:
Medtronic; Sanofi-aventis; Organon; Teva Pharmaceutical Industries Ltd; Valeant; Theravance; Myriad; Actelion; Abbott; Boehringer Ingelheim; Bristol-Myers Squibb; GlaxoSmithKline; Novo Nordisk; Roche

Study Snapshot

Assessing the success of product launches is a complex yet critical activity to improve both product and process performance. This benchmark study seeks to identify the full range of launch performance measures used to evaluate launch success and to develop benchmarks with which to inform and shape biopharma launch evaluations.

From interviews with executives at six companies, extensive survey data and insights drawn from 19 surveyed companies, this report provides executives, directors, and managers at pharmaceutical companies with actionable insights that will improve post-launch evaluation and stregthen future product launches.

Topics covered in this study include:

  • Understand Product Launch Evaluation Process
  • Determine Role of Forecasting in Evaluating Success
  • Identify Key Performance Measures Used
  • Review Importance of Specific Launch Evaluation Performance Measures
  • Describe Process and Timetable for Recalibration of Launch Targets

Key Findings

  • Most companies do not follow a standard launch evaluation process.
  • Managing expectations, beyond the forecasts, is critical to guiding post-launch activity.
  • Frequent cross-functional launch team meetings (pre- and post-launch) are the best means of identifying and resolving performance issues.
Table of Contents

RESEARCH OVERVIEW & BACKGROUND 3
Research Overview 4
Benchmark Class 5
Study Perspective 6

KEY FINDINGS & INSIGHTS 7

LAUNCH EVALUATION PROCESS 10
Product Attributes Drive Custom Launch Evaluations 11
Organizational Contexts Shape Evaluation 12
Most Set Measures 6+ Months Before Launch 13
Multi-Functional Team Sets Launch Forecast 14
Extrinsic Variables Influence the Launch 15
Forecasting Methods are Adaptable 16

KEY PERFORMANCE MEASURES 17
Sales Measures 18
Market Share 19
Best Success Measures 20
Share of Voice 21
Physician Awareness 22
Measures and Activity Require Balance 23
Payer Access 24
Presence on Key Formularies Proves Value 25
Patients-Initiating-Therapy Metrics 26
Therapy Initiations 27
AEs & FDA Scrutiny 28
Sales Force Performance Measures 30
Details & Message Retention 31
Market/Customer Activity 32
Gaps in Understanding 33

RECALIBRATING TARGETS POST-LAUNCH 34
Launch Team Reviews & Methods 35
Corrective Action Triggered by Missed Targets 36
Adjust Inaccurate Targets Post-Launch 38

LESSONS LEARNED 39
Look Beyond the Measures 40
Failure & Success 41
Learn from Previous Launches 42

ABOUT BEST PRACTICES, LLC 43

List of Charts & Exhibits

Product Launch Assessment Approach (Full Benchmark Class & Large Pharma Segment)
  • Forecasting Timeframe in Months (Full Benchmark Class & Large Pharma Segment)
  • Make Up of Cross-Functional Product Launch Forecasting Team (Full Benchmark Class)
  • Factors that Affect Launch Forecasts (Full Benchmark Class)
  • Sales Measures Employed as Launch Performance Measures (Full Benchmark Class & Large Pharma Segment)
  • Relative Importance of Sales Measures in Evaluating Launch Success (Full Benchmark Class & Large Pharma Segment)
  • Thought Leader & Physician Awareness Measures Employed as Launch Performance Measures (Full Benchmark Class & Large Pharma Segment)
  • Relative Importance of Thought Leader & Physician Awareness Measures in Evaluating Launch Success (Full Benchmark Class & Large Pharma Segment)
  • Payer Access Measures Employed as Launch Performance Measures (Full Benchmark Class & Large Pharma Segment)
  • Relative Importance of Payer Access Measures in Evaluating Launch Success (Full Benchmark Class & Large Pharma Segment)
  • Patient Acceptance Measures Employed as Launch Performance Measures (Full Benchmark Class & Large Pharma Segment)
  • Relative Importance of Patient Acceptance Measures in Evaluating Launch Success (Full Benchmark Class & Large Pharma Segment)
  • Adverse Events and Regulatory Scrutiny Measures Employed as Launch Performance Measures (Full Benchmark Class & Large Pharma Segment)
  • Relative Importance of Adverse Events and Regulatory Scrutiny Measures in Evaluating Launch Success (Full Benchmark Class & Large Pharma Segment)
  • Sales Force Performance Measures Employed as Launch Performance Measures (Full Benchmark Class & Large Pharma Segment)
  • Relative Importance of Sales Force Performance Measures in Evaluating Launch Success (Full Benchmark Class & Large Pharma Segment)
  • Other Key Performance Measures (Full Benchmark Class & Large Pharma Segment)
  • Frequency in Weeks of Launch Team Reviews (Full Benchmark Class)
  • Review Method of Performance Metrics (Full Benchmark Class)
  • Corrective Action Determination (Full Benchmark Class)
  • Critical Launch Success Factors (Full Benchmark Class)
  • Post-Launch Target Recalibration Timeframe in Months (Full Benchmark Class)