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news.Recent pharmaceutical product launches have had both noteworthy successes and failures – especially in the oncology therapeutic area.
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In today’s competitive launch environment, biopharmaceutical leaders are utilizing these insights to help them to better understand potential pitfalls and ensure success at market entry.
According to research by benchmarking firm, Best Practices, LLC, new technologies are playing a larger role in educating and informing the marketplace of new product launches. Increasingly, market-entry plans are including a host of leveraged marketing technologies and tactics.
The related report, "Success Factors and Failure Points in Oncology Product Launches," provides leaders with a critical core set of factors that can make or break a market entry for cancer products as well as other types of therapies. The study also presents a framework for launch success: 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.
Key topics covered in the study include:
– Winning on Differentiated Product Positioning
– Winning a Physician’s Initial Trial of a New Product
– Articulating Benefits that Shape Positive Market Perception
– New Product Pricing Strategy
– Thought Leader Engagement
– Early Physician Education
– Payer Education
– Patient Education and Advocacy
– Preparing Market Constituents
– Access Insights & Success Factors
– Winning Hospital Formulary Access
– Resource Allocation for Key Stakeholders
– Investment Requirements, Resource Allocation & Timing
– Internal Launch Readiness
– New Technologies for Informing Patients and Physicians
– Pitfalls and Stumbling Blocks
– Demonstrating Efficacy
– Rating Different Safety Dimensions
The study engaged 22 respondents from 17 companies. Nearly 33% are directors, senior directors or vice presidents, and 45% are based in the United States. The participants represent three different industries. About 68% work in medical and scientific affairs.