Dozens of prescription drugs will lose patent protection within the next few years, and new drug launches have been hit-or-miss.It is a challenge for companies to create prescription drugs that meet higher payer standards and that can differentiate themselves from the crowded marketplace based on areas such as safety, efficacy, and pricing.While prescription drug launches always held an air of unpredictability, companies now seem to struggle even more with launch execution in today's complex world when failure is more expensive than ever.There are ways for companies to avoid past failures and find new prescription drugs.
Step 1: Give your product a different look.
Efficacy, unmet needs, safety and target patient population are some of the factors established in clinical trials.In a crowded market, secondary positioning factors can be useful.
Step 2: Define the patient population.
A clear target patient population helps with first-use experiences.It is a launch factor that can produce positive word-of-mouth, however it is often missed or poorly executed.Clear identifications are required to recognize the target patient.A risk factor is created by this.Medical education and marketing communication are helpful.Creating content, messaging, programs, disease state awareness information, and education help physicians identify the patient types that are best suited for a therapeutic area.
Step 3: Support and launch are things to invest in.
Launch leaders stress the importance of proper investment in a new launch in terms of both promotional resources and patient support.There are patient support and supply chain resources.Call centers, samples, and ease-of-access can help launch.
Step 4: Think leaders should be engaged.
Thought leader engagement is key to success.One size does not fit all when it comes to relationship strategies.Medical Affairs should be involved in creating key opinion leader strategies.Product launch teams must craft engagement strategies that reflect therapeutic area needs.
Step 5: Educate key stakeholders.
Educating the marketplace has become more important in the face of promotional and access restrictions.The main target audiences for OpenDocument Education messages are physicians, patients and payers.It's a good idea to know which physician segments to target.Different product education approaches may be required by multiple physician and specialist segments.The relationship can be set back by the wrong approach.Patient advocacy and payers are gaining influence over key stakeholder education allocations.Patient advocacy and payers are important for educating the market.Generalized marketing allocation models are prone to error.Involve payers on value, be prepared to speak to their interests on price and reimbursement, illuminate health outcomes, comparative effectiveness and most valued label attributes, and convert price-based conversations into value based conversations.
Step 6: There is value across multiple fronts.
Success can be launched by payers.The strength of a product's value message is just as important as the price.The importance of comparative effectiveness and risk sharing will rise.Health outcomes and models can be developed.A model to show a new product's value is needed.The model must be collaborative to be credible and insightful.You can accurately reflect the economics of a disease state in the model if you approach payers early.A compelling value rationale is provided by comparative effectiveness studies.
Step 7: Digital media technologies can inform.
Digital media technologies are used in new product marketing campaigns.Brand Web sites, webcasts, social media and video detailing are some technologies that have been refined to offer greater impact on market entry as "brute force" becomes a thing of the past.
Step 8: There are pitfalls and stumbling blocks.
There are pitfalls in the market-entry landscape for a new product launch.The major stumbling blocks are internal resources and risks, field execution and failure to address safety concerns.There will be more mistakes in the coming years.