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Pre-Launch Planning – Priming Your Pharmaceutical Brand for Profit and Success
Eularis, June 2011, Pages: 46
Every Pharma company today is hoping to achieve their own immediate winners, the drugs that are successful right from the start and provide years of business-sustaining profit. With this goal comes an interesting development for marketers: The power of marketing is recognized. The C-Suite has the evidence at hand and can come to only one conclusion: consistent and robust investment in sales and marketing are key to achieving those blockbuster launches.
Marketing and sales can literally mean billions during a drug’s launch and during the lifetime value. A product’s shaping, positioning, sales uptake and market performance, with proper marketing focus and support, can translate to the elusive blockbuster. The power is there, but how can marketers deliver? More and more, companies are expecting marketers to be instrumental at the key moment of launch, and marketers are under extreme pressure. To deliver on the high hopes of Pharmaceutical brand launches, companies must engage in comprehensive pre-launch planning.
In today’s environment, Pharmaceutical companies find themselves in a bind. Until recently, if drugs made over $500 Million in annual revenue within three to five years of launch, they were considered hugely successful. They were a support to an extensive company portfolio and a component of greater company profit.
However, things have changed. The standards for a successful drug have become much higher and much more dangerous. Everyone is searching for the new product that posts incredible sales from the moment it’s on the market, and if they don’t find it, trouble may be on the horizon.
The reasons behind this are easy to understand. With so many revenue-producing drugs going off patent shortly (Lipitor, Cozaar, Fosamax, Singulair, etc.), companies are facing sales that are increasingly slow as well as large holes in their balance sheets. In addition, with the stakes high and available funds low, pipelines are drying up. Add to this the closer scrutiny of safety issues, the rise of Generics, slower physician acceptance and adoption of new therapies, and the Pharma Industry is in trouble.
Looking at the concept and components of effective pre-launch planning; this report analyzes the environment for pharmaceuticals today in efforts to understand why the launch is increasingly important. This research describes the phases of pre-launch planning; looking at key organizational strategies, marketing tactics, regulatory considerations, and even global issues.
Finally, to help companies make tough decisions and engage in effective planning, this report examines powerful pre-launch analytics techniques and case studies of success.
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