CHAPEL HILL, N.C., Dec. 18 /PRNewswire/ -- Despite all the scientific advancements in drug discovery and development, it's still a long and expensive trip from the lab to the marketplace. To make that investment of time and money pay off, best-in-class pharmaceutical companies have learned to inject commercial insights early in the product development process, according to research from Best Practices, LLC.
"It's clear early integration of commercialization activities pays off, be it eliminating an unpromising compound early in the development process or achieving success at product launch," said Chris Bogan, chief executive officer of Best Practices, LLC.
The 113-page study found that organizational form or structure is a critical enabler of early integration of commercial activities. Leading companies build an organizational structure that fosters commercialization excellence through integrated portfolio, project and process management programs across a compound's development cycles, according to the study.
The report, "From Genes to Giants: Best Practices in Early-Stage Commercialization," will help leaders in new product planning and market research learn best practices in early-stage product commercialization. The study contains a wealth of insights gleaned from interviews and benchmark surveys with pharma companies such as Bristol-Myers Squibb, Eli Lilly, GlaxoSmithKline, Johnson & Johnson, Novartis, and Pfizer.
To download a complimentary summary of the study, go to
Some of the findings to emerge from the study include:
-- Centralize early and late-stage commercialization functions to
cultivate better integration among people, resources, activities and
-- Employ integrated tools, techniques and tactics for portfolio
management and decision analysis to develop understanding and win
broad-based support for tough decisions.
-- Initiate lifecycle management analyses early in the new-product
development process to fully evaluate the potential for multiple
indications, line extensions and new formulations.
Firms that learn how to manage the people variables necessary to optimize product commercialization will win a competitive advantage in the marketplace, the study said.
Download additional findings in the complimentary report summary at: http://www3.best-in-class.com/rr892.htm or contact our Solution Specialists at (919) 403-0251 or firstname.lastname@example.org.
If you would like to speak to us about how our research can benefit your organization, please contact Cameron Tew, Manager of Research and Publishing at Best Practices, LLC at (919) 767-9246 or email@example.com.
ABOUT BEST PRACTICES, LLC
Best Practices, LLC, conducts work based on the simple yet profound 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. Best Practices, LLC has been a leader in pharmaceutical research and consulting for nearly 15 years; our clients include 43 out of the top 50 pharmaceutical companies.
|SOURCE Best Practices, LLC|
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