Biopharmaceutical Product Launches: An Updated Roadmap for Strong Market Entry

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Faced with a continually evolving launch landscape, pharmaceutical organizations are rethinking the factors that play the biggest role in the current launch environment. To explore the pivotal success factors and failure points facing new product launches, Best Practices, LLC established a critical core set of factors that can make or break a market entry. Here are some recent noteworthy failures and successes from biopharmaceutical product launches:

GO!: Success Factors to Embrace

  • It’s imperative that product launch teams craft engagement strategies reflecting therapeutic area needs and your company’s tenure in the therapeutic area.
  • Identify the right key opinion leaders to support a scientific platform.
  • Pricing is one of the key launch issues that should be examined, including topics such as differentiation factors that best enable superior pricing, level of superior efficacy required for superior pricing against branded competitors and best pricing strategies when entering a market with generics.

STOP!: Pitfalls & Stumbling Blocks to Avoid

  • Launch leaders identified sales communication and declining resources as the greatest pitfalls to market entry.
  • Failure to address safety signals, lifecycle planning, and competitive positioning errors are currently at high-risk for launch mistakes.
  • Not effectively differentiating your product & accurately defining target patient populations could be the difference between a successful & an unsuccessful new product launch.

The healthcare sector is complex and requires biopharmaceutical companies to focus on the changing disease landscape and justify huge capital investments during drug development. While keeping track of product development timelines, marketing executives need to concentrate on how the product is perceived when launched in the market. A number a factors shape the marketplace and guide consumer perceptions. If planned well, a combination of marketing tools, phased education practices and optimal resource structure, can ensure successful market entry of a product.

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