Navigation Links
Successful Drug Re-Launch Hinges on Organizational Backing
Date:3/25/2008

CHAPEL HILL, N.C., March 25 /PRNewswire/ -- There is no guarantee that a re-launch will revitalize a drug that fizzled after its initial launch. A necessary first step for a successful re-launch is to win the organizational backing that ensures needed resources -- both financial and staffing -- will go into the effort, according to a study by benchmarking leader Best Practices, LLC.

The study, Product Relaunch Excellence: Transforming Lackluster Pharmaceutical Products into Market Success Stories, found that leading companies spend more than 100 percent of the initial launch investment to successfully establish a brand identity for the re-launched product. But that investment can pay off quickly: Leading pharmaceutical companies expect at least a 20 percent increase in annual sales with a re-launch, according to the study.

The report is available online with a complimentary excerpt at http://www3.best-in-class.com/rr919.htm .

The study gathers insights from 14 pharmaceutical and biotech companies, including Abbott Labs, AstraZeneca, GlaxoSmithKline, Merck, Novartis, Pfizer and Sanofi-Aventis. The study contains almost 500 metrics and 50 best practices that will help executives gain insights into re-launch strategy and practices.

Field research revealed that companies employ a systematic investment management process to build the business case for investing in a re-launch. The process can be summarized as a four-step cycle:

-- Rally for Resources - It is critical to gain organizational support and

buy-in to prevent the lack of resources from becoming a roadblock to

re-launching.

-- Determine the Level of Investment - Depending on the level of re-

positioning and re-vamping required, companies must determine the level

of investment needed.

-- Create the Investment Allocation - Companies essentially share the same

approach in that the majority of investment, almost two-thirds, is

shared by sales, various promotional channels, KOL and advocacy

initiatives.

-- Refine the Marketing Mix - After re-launch, monitor and adjust the

plan. During the two or three quarters it takes to access the

penetration success of key customer segments, brand teams carefully

observe the impact of marketing.

For a deeper exploration of the captured metrics and best practices in the study, visit http://www3.best-in-class.com/rr919.htm or for related research visit our Best Practices, LLC Web site at: http://www3.best-in-class.com/.

ABOUT BEST PRACTICES, LLC

Best Practices, LLC is a research and consulting firm that conducts work based on the principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies. Our clients include 43 of the 50 leading pharmaceutical companies. For more information, call (919) 403-0251 or visit http://www3.best-in-class.com/ .


'/>"/>
SOURCE Best Practices, LLC
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Cancer treatments in phase 3 trials successful up to half of the time
2. Scientists successfully awaken sleeping stem cells
3. Unions Successful in Targeting Healthcare Industry
4. Researchers develop a method to select eggs with the best chance of leading to successful pregnancy
5. Milestone Scientific Announces Chicago Dental Societys 143rd Midwinter Meeting Proved Successful
6. Despite popularity, researcher finds not everyone can successfully learn through online courses
7. The Ensign Group Successfully Graduates Troubled Nursing Home from CMS Special Focus Facility Program
8. Successful Massachusetts Healthcare Reform Initiative Faces Rising Healthcare Costs in Year Two
9. Redefining a Products Identity Key to a Successful Re-Launch
10. Kiadis Pharma Announces Successful Completion of Rhitol(TM) Phase II Clinical Study
11. Lilly Caps Successful Year with Strong Fourth-Quarter Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/9/2016)... ... February 09, 2016 , ... The Brain Preservation ... A team from 21st Century Medicine (21CM) ( http://www.21cm.com/ ), spearheaded by ... neural circuits of an intact rabbit brain for extremely long-term storage using a ...
(Date:2/8/2016)... ... 2016 , ... Stephanie Hebert Insurance Agency, serving families of ... charity campaign. As part of their ongoing community involvement program, funds are now ... children deserve a voice, and in the spirit of neighbors helping neighbors in ...
(Date:2/8/2016)... , ... February 08, 2016 , ... ... and clothing, announced expansion into Canada to provide its range of unique and ... sales office in Quebec City that will provide bilingual customer service and marketing ...
(Date:2/8/2016)... , ... February 08, 2016 ... ... security executive networking and relationship-marketing firm, announced today that nominations will be ... Security Executive® (ISE®) West Awards. , Awards include the Information Security ...
(Date:2/8/2016)... ... 2016 , ... GrassrootsHealth published data from its D*action public ... in the GrassrootsHealth cohort with substantially higher vitamin D levels than a cohort ... states Carole Baggerly, Director of GrassrootsHealth, “the safety and benefits of vitamin ...
Breaking Medicine News(10 mins):
(Date:2/8/2016)... 8, 2016  Echo Therapeutics, Inc. (Nasdaq: ... focused on non-invasive continuous glucose monitoring (CGM) ... that it will host a webcast and ... at 9:00 a.m. Eastern Time to provide ... strategy, advancements in its CGM system, and ...
(Date:2/8/2016)... In a historic vote among its members this weekend, the Shinnecock Indian ... facility and dispensary on tribal land near Southampton . ... provider for patients in the state,s Medical Cannabis Program. --> ... patients in the state,s Medical Cannabis Program. --> Tribal ... pursue designation from the State of New York ...
(Date:2/8/2016)... , Switzerland and PALO ALTO, Calif. , ... biological and chemical manufacturing, and Kodiak Sciences Inc., a ... treatment of retinal disease, announced today agreements for the ... Lonza will manufacture material at multiple sites, including Slough ... --> --> Retinal diseases, such ...
Breaking Medicine Technology: