RESEARCH TRIANGLE PARK, NC--(Marketwired - June 30, 2016) - While executing a new drug launch, 77% of surveyed pharmaceutical companies look to ad hoc launch sequencing groups rather than maintaining dedicated teams, according to a newly published pharmaceutical launch excellence study by Cutting Edge Information.
A new pharmaceutical product's launch sequence has the largest impact on its lifetime revenue. As such, pharmaceutical firms look to a variety of internal stakeholders to develop launch plans. Although C-level executives make final decisions, when and where products should be launched is determined by a multitude of input.
Drug manufacturers do not always have the resources necessary to maintain dedicated launch sequencing teams, making them less common. Dedicated launch sequencing teams are mainly found in larger companies, according to the study, Pharmaceutical Product Launch Sequencing: Maximizing Revenue and Achieving Global Market Access. Compared to the 75% of surveyed firms that use ad hoc committees, dedicated teams are only found in 33% of Top 10 and Top 50 companies. Even less (20%) exist in small drug companies.
Even so, firms that rely on ad hoc committees must be able to staff the correct number of team members to completely support launch planning. The amount of full time employees (FTEs) allocated to dedicated launch sequencing committees is 50% more than ad hoc committees, according to the study.
"Ad hoc launch sequencing teams are just as capable of supporting global launch sequencing strategies as dedicated teams," said Adam Bianchi, Senior Director of Research at Cutting Edge Information. "Each company should ensure that it has chosen the correct type of team as well as the number of FTEs for a successful global launch."
Pharmaceutical Product Launch Sequencing: Maximizing Revenue and Achieving Global Market Access, available at http://www.cuttingedgeinfo.com/research/market-access/global-launch-sequencing/, guides companies on how to maximize their margins when launching new pharmaceutical products around the world. The study identifies key trends in how companies approach launch sequences and what drives decision making among internal and external stakeholders. Some of the best practices and key initiatives covered in the report include:
- Cross-functional coordination to support successful launch sequencing within the organization
- Providing important regulatory and market guidance to shape the product launch.
- Developing launch sequences and using tools -- such as computerized optimizers and payer research -- to make informed launch decisions.
- Determining a product's launch cascade, outlining the various stages at which the company will bring the product to new country/market.
- Identifying the factors that influence each particular market, as well as year-over-year trends in key markets.
To find out more about Cutting Edge Information's pharmaceutical launch excellence benchmarking research, please visit www.cuttingedgeinfo.com.
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