RESEARCH TRIANGLE PARK, NC--(Marketwired - September 13, 2016) - A study published by Cutting Edge Information found that 86% of surveyed pharmaceutical companies do not complete market access planning activities until phase 3 of the developmental process. The same percentage of firms also wait until Phase 3 to complete disease state educational development, lifecycle strategy development, and thought leader development activities.
According to the study, Pharmaceutical Commercialization Profiles: Driving Brand Success with Better Budgeting and Timing, the majority of companies develop their brands' marketing strategies during Phase 3. However, certain surveyed firms reported beginning several activities earlier in the development cycle. In fact, 29% of brand teams begin advocacy development and thought leader development during the pre-clinical stage. Another 14% of companies surveyed each start market access planning and lifecycle strategy development during this time.
"Pharmaceutical companies must be able to balance and coordinate a wide range of activities and initiatives throughout a product's lifecycle," said Adam Bianchi, senior director of research at Cutting Edge Information. "Therefore, strategy development is a crucial step in executing this process."
Surprisingly, no companies report undertaking disease state education, medical meetings or HEOR strategy development before Phase 2. However, at this point in development, at least some percentage of surveyed companies have begun working on strategic planning across all critical launch activities.
Pharmaceutical Commercialization Profiles: Driving Brand Success with Better Budgeting and Timing, available at http://www.cuttingedgeinfo.com/research/marketing/brand-commercialization-launch/, provides signposts, key budget benchmarks and staffing metrics to help guide pharmaceutical brand commercialization strategies and resources. Report highlights include:
- Detailed medical affairs, market access, marketing and commercial resource expenditures from pre-clinical development to two years after product launch
- Data on staffing brand commercialization committees and timing of specific brand activities and assessments
- Profiles of more than 20 pharmaceutical brands for early brand development, late-stage brand development and post-launch support
For more information about this study or other pharmaceutical brand management services by Cutting Edge Information, please visit http://www.cuttingedgeinfo.com/research/marketing/brand-commercialization-launch/.
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