diabetes product launches success & failure points

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  • 1. Success Factors and Failure Points in Metabolic Product Launches % Strategic Benchmarking Research, Analysis & Recommendations BEST PRACTICES, 1 Copyright Best Practices, LLC LLC
  • 2. Table of ContentsBackground Summary of Business Issue, Key Insights, Findings and Lessons Learned p.4-18 Universe of Learning: Research Participants, Launch Experience, Cardiology, Metabolics & Other Therapeutic Area Demographics p.19-26Main Deck Winning on Differentiated Product Positioning p.27-36 Winning a Physicians Initial Trial of a New Product p.37-39 Articulating Benefits that Shape Positive Market Perception p.40-44 New Product Pricing Strategy p.45-56 Thought Leader Engagement p. 57-65 Early Physician Education p.66-76 Payer Education p. 77-81 Patient Advocacy and Education p.82-86 Preparing Market Constituents p.87-91 Access Insights & Success Factors p.92-100 Winning Hospital Formulary Access p.101-103 Resource Allocation for Key Stakeholders in the Current & Future Marketplaces p. 104-106 Investment Requirements, Resource Allocation & Timing p.107-117 BEST PRACTICES, 2 Copyright Best Practices, LLC LLC
  • 3. Table of Contents Internal Launch Readiness p.118-131 New Technologies for Informing Patients & Physicians p.132-137 Pitfalls & Stumbling Blocks p.138-159 Demonstrating Efficacy p.160-168 Rating Different Safety Dimensions p.169-178 Lessons Learned, Best Practices & Future Changes p.179-181 About Best Practices, LLC p.182 BEST PRACTICES, 3 Copyright Best Practices, LLC LLC
  • 4. Framework for Presenting Insights, Practices & PitfallsThe performance benchmark and field research have harvested scores of insights andobservations. They have been organized into the following summary framework fordiscussion and planning purposes. 8. Avoid Pitfalls & 1. Differentiate Your Product Stumbling Blocks 7. Utilize New 2. Clearly Define Target Technologies To Inform Insights, Patient Population Best Practices, 6. Demonstrate Pitfalls 3. Invest in Launch & Value Across Support Multiple Fronts 5. Educate Key 4. Engage Stakeholders: (Physicians, Patients, & Payers) Thought Leaders BEST PRACTICES, 4 Copyright Best Practices, LLC LLC
  • 5. 1. Differentiate Your Product In A Crowded MarketDifferentiation is a key factor in a new products launch success. While efficacy andsafety are considered the best ways to differentiate a new product, new therapies inDiabetes also can use secondary benefits to gain traction at launch. Differentiating Your Product - -Secondary Benefits Can Be Win Themes: Differentiating Your Product Secondary Benefits Can Be Win Themes: Differentiated positioning begins on factors established in clinical trials such as Differentiated positioning begins on factors established in clinical trials such as efficacy, unmet needs, safety and target patient population. Secondary positioning efficacy, unmet needs, safety and target patient population. Secondary positioning factors have less overall impact but can be useful in aacrowded market and are factors have less overall impact but can be useful in crowded market and are often more directly influenced through Marketing. Using secondary benefits can be an often more directly influenced through Marketing. Using secondary benefits can be an effective strategy for positioning aaproduct in aahighly competitive market. effective strategy for positioning product in highly competitive market. As one executive observed during interviews: You like to go to market with an efficacy As one executive observed during interviews: You like to go to market with an efficacy message, thats what you want.. IfIfyou cant do efficacy, fall back to safety. IfIfyou cant message, thats what you want.. you cant do efficacy, fall back to safety. you cant do safety, you fall back to convenience. IfIfyou cant do convenience, you fall back to do safety, you fall back to convenience. you cant do convenience, you fall back to pricing. Secondary or even tertiary positioning factors have been win themes. Quality pricing. Secondary or even tertiary positioning factors have been win themes. Quality of life, ease of use, cost effectiveness, patient compliance, or even aacelebrity of life, ease of use, cost effectiveness, patient compliance, or even celebrity spokesperson are examples. Use of secondary factors varies considerably across TAs. spokesperson are examples. Use of secondary factors varies considerably across TAs. In Diabetes, preventive benefits, unmet need, weight control, health outcome are In Diabetes, preventive benefits, unmet need, weight control, health outcome are rated as most effective rated as most effective BEST PRACTICES, 5 Copyright Best Practices, LLC LLC
  • 6. Universe of Learning: 38 Companies EngagedResearch participants included 44 executives and managers from 38 leadingpharmaceutical, biotech and medical device companies. Participating Companies TGC MedTech Laboratorios Dermatologicos Darier BEST PRACTICES, 6 Copyright Best Practices, LLC LLC
  • 7. Diabetes Segment: 9 Participants EngagedDiabetes research participants included nine executives and managers at seven industryleading companies. Benchmark Partners Diabetes Products Participant Titles Business Manager Marketing Manager Marketing Manager Senior Training Manager Levothyroxine Senior Brand Manager Marketing Director Global Marketing Director Taspoglutide Director, Strategic Planning Former Senior Vice President BEST PRACTICES, 7 Copyright Best Practices, LLC LLC
  • 8. Efficacy, Unmet Need Offer Best Positioning ToolsFor respondents as a whole, efficacy and unmet need remain the most attractivepositioning tools for differentiating. But participants indicated that an effective use of atight target patient population/sub-population presents an opportunity where efficacy andunmet need may not be differentiating options for a new products launch. Q5. Winning On Differentiated Product Positioning: Differentiated product positioning is critical to market entry success. Rate the effectiveness of different positioning strategies and tac

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