RESEARCH TRIANGLE PARK, NC--(Marketwired - August 10, 2016) - Some of the pharmaceutical industry's top executives are ultimately responsible for their products' launch sequences.
According to a recent study published by Cutting Edge information, c-suite executives at half of the surveyed companies have the final say in their launch sequencing plans. This approval percentage is higher than in some more expected groups. For instance, 19% of surveyed marketing and commercialization teams have final say on drug launch sequences. And surprisingly, market access teams have the final say at only 13% of companies. Companies use brand managers, therapeutic area or business unit managers and specialized launch sequence committees each only 6% of the time for final decisions.
According to Cutting Edge Information's study, Managing Market Access Launch Activities: Benchmarking Product Commercialization and Cross-Functional Coordination, there are two major approaches that drug companies take when developing a launch sequence, with some variations in each. The first approach is a heavily invested, fully engaged process for each product that requires extensive cross-functional cooperation and detailed planning.
The second approach is much more hands-off and follows a broad template (also known as a "vanilla" launch sequence) that focuses on broad market categories rather than specific marginal gains. However, regardless of which overall approach that teams decide to take, the final approval of a launch sequence usually rests with high-level pharmaceutical executives.
"The majority of market access groups interviewed said that the first option is often only available for large companies where the launched product's profits rely on individual country margins," said Jacob Presson, senior consultant at Cutting Edge Information. "On the contrary, market access groups at smaller companies usually prefer the more vanilla strategy because it is a simple way to maximize margins without spending a lot of time or money on the process."
Managing Market Access Launch Activities: Benchmarking Product Commercialization and Cross-Functional Coordination, available at http://www.cuttingedgeinfo.com/research/market-access/reimbursement-launch-activities/, analyzes market access teams before and during the crucial launch window. The analysis includes detailed data on spending and staffing, as well as best practices for internal coordination. Report highlights include:
- Market access spending by function before, during, and after launch.
- Benchmarks and key performance metrics for global launch sequencing planners.
- Data showing number of managed market account managers during the launch window.
- Trends in health economics delivery channels to external stakeholders.
Cutting Edge Information also recently published a separate study on pharmaceutical launch sequences titled Pharmaceutical Launch Sequencing: Establishing Patient Access and Understanding Global Pricing, available at http://www.cuttingedgeinfo.com/research/market-access/global-launch-sequencing/. Pharmaceutical Launch Sequencing uncovered similar data regarding C-Suite involvement in global launch sequence strategy.
For more information about market access and how drug companies position their products in new markets with sound data and a strong reimbursement profile, please visit http://www.cuttingedgeinfo.com/library/market-access/.
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