Success Factors and Failure Points in Biopharmaceutical Product Launches: An Updated Road Map for Strong Market Entry

While myriad issues affect a new product launch, recent market entries have illustrated that there are a critical core of factors that can make or break a new product's early marketplace performance: the ability to differentiate, a defined target patient population, investment in launch activities, engagement of thought leaders, education of key stakeholders, demonstration of value, utilization of new technologies and avoidance of launch pitfalls.

Best Practices, LLC's study, Success Factors and Failure Points in Biopharmaceutical Product Launches: An Updated Road Map for Strong Market Entry, explores each aspect of this framework for launch success. The comprehensive launch study delivers qualitative and quantitative data on differentiation, pricing, physician and thought leader education, payer and formulary access, launch readiness, resource allocation and much more.

In addition, the study presents launch leaders' perspective on the current and future risk levels for an array of pitfall factors that can affect a launch, from patient and payer to physician and regulatory.

Study Snapshot

The new product launch landscape has never been more challenging with launch teams facing more potential pitfalls than ever. Best Practices®, LLC conducted this timely new benchmarking study to probe critical launch failure points and success factors.
Best Practices, LLC used both field surveys and interviews to complete this study. In all, 44 launch leaders from 38 different companies from the pharmaceutical, biotechnology and medical device sectors contributed data, reflecting on almost 30 products. In-depth interviews were conducted with veteran leaders from six organizations.

Topics include:

• Winning on Differentiated Product Positioning
• Winning a Physician’s Initial Trial of a New Product
• Articulating Benefits that Shape Positive Market Perception
• New Product Pricing Strategy
• Thought Leader Engagement
• Early Physician Education
• Payer Education
• Patient Advocacy and Education
• Preparing Market Constituents
• Access Insights & Success Factors
• Winning Hospital Formulary Access
• Resource Allocation for Key Stakeholders in the Current & Future Marketplaces
• Investment Requirements, Resource Allocation & Timing
• Internal Launch Readiness
• New Technologies for Informing Patients & Physicians
• Pitfalls & Stumbling Blocks
• Demonstrating Efficacy
• Rating Different Safety Dimensions

• New Marketing Tactics Are Rising To Help Replace “Brute Force” Approaches And Thereby Reduce Cost, Expand Reach and Accelerate Launch Speed: Giant sales forces have been reduced and slowly other marketing tactics and technologies are beginning to fill the gap. Increasingly, market-entry plans are including a host of leveraged marketing technologies and tactics as cornerstones of the launch.

• Engaging Payers With A Focus On Value: Engage payers early and across multiple fronts. Be prepared to speak to their interests on price and reimbursement – and be able to convert price-based conversations into value-based conversations illuminating health outcomes, comparative effectiveness and most valued label attributes.