success factors and failure points in oncology product launches report summary

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Research summary for "Success Factors and Failure Points in Oncology Product Launches." Contact me to view the full report.

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  • 1. Success Factors and Failure Points in Oncology 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. 4-17 Universe of Learning: Research Participants, Launch Experience, Oncology & Other Therapeutic Area Demographics p. 18-24Main Deck Winning on Differentiated Product Positioning p. 25-32 Winning a Physicians Initial Trial of a New Product p. 33-35 Articulating Benefits that Shape Positive Market Perception p. 36-40 New Product Pricing Strategy p. 41-51 Thought Leader Engagement p. 52-59 Early Physician Education p. 60-70 Payer Education p. 71-75 Patient Advocacy and Education p. 76-80 BEST PRACTICES, 2 Copyright Best Practices, LLC LLC
  • 3. Table of ContentsMain Deck (cont.) Preparing Market Constituents p. 81-85 Access Insights & Success Factors p. 86-93 Winning Hospital Formulary Access p. 94-96 Resource Allocation for Key Stakeholders in the Current & Future Marketplaces p. 97-99 Investment Requirements, Resource Allocation & Timing p. 100-110 Internal Launch Readiness p. 111-124 New Technologies for Informing Patients & Physicians p. 125-130 Pitfalls & Stumbling Blocks p. 131-150 Demonstrating Efficacy p. 151-159 Rating Different Safety Dimensions p. 160-169 Lessons Learned, Best Practices & Future Changes p. 170-172 About Best Practices, LLC p. 173 BEST PRACTICES, 3 Copyright Best Practices, LLC LLC
  • 4. Summary of Key Insights, Operational Pitfalls & Lessons Learned BEST PRACTICES, 4 Copyright Best Practices, LLC LLC
  • 5. 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, 5 Copyright Best Practices, LLC LLC
  • 6. 1. Differentiate Your Product In A Crowded MarketDifferentiation is a key factor in a new products launch success. While efficacy andsafety are usually considered the best ways to differentiate a new product, newtherapies in Oncology 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, safety and target patient population. Secondary positioning factors have less efficacy, safety and target patient population. Secondary positioning factors have less overall impact but can be useful in aacrowded market and are often more directly overall impact but can be useful in crowded market and are often more directly influenced through Marketing. Using secondary benefits can be an effective strategy influenced through Marketing. Using secondary benefits can be an effective strategy for positioning aaproduct in aahighly competitive market. 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 spokesperson are examples. Use of secondary factors varies considerably across TAs. TAs. For Oncology products, several factors were cited as being effective for For Oncology products, several factors were cited as being effective for differentiation including: efficacy, target population, health outcomes, differentiation including: efficacy, target population, health outcomes, unmet needs and dosage. It is important to contrast these differences unmet needs and dosage. It is important to contrast these differences against other current therapies. against other current therapies. BEST PRACTICES, 6 Copyright Best Practices, LLC LLC
  • 7. Universe of Learning: Research Participants, Launch Experience,Oncology & Other Therapeutic Areas Demographics BEST PRACTICES, 7 Copyright Best Practices, LLC LLC
  • 8. 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, 8 Copyright Best Practices, LLC LLC
  • 9. Oncology Segment: 7 Participants EngagedOncology research in survey participants included seven executives andmanagers at six different companies. Benchmark Partners Oncology Products Participant Titles SVP CCO Senior Consultant Director Global Sr. Marketing Mgr Project Manager

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