Navigation Links
New Pharmaceutical Product Launch Spend: Developing Competitive Launch and Pre-launch Budgets to Ensure a Successful Market Entry
Date:9/20/2013

CHAPEL HILL, N.C., Sept. 20, 2013 /PRNewswire/ -- In order for a new product to gain a foothold in today's competitive pharmaceutical market, executives must understand where and when to invest in key launch activities. At the same time, product launch leaders have to balance the goals of containing expenditures and generating a successful launch.

To help biopharma leaders better understand the factors behind a successful pharmaceutical product launch in the U.S. market, Best Practices, LLC has published a study that sheds light on investment levels and frequency across 12 key marketing, education, and payer activities. The report, "New Product Launch Spend: Medical Affairs Budget in the U.S. Market," includes overall investment benchmarks for specialty and primary care products for launch year and each of the three years prior to launch.

Spending for launch-related activities during the year their products entered the market ranged from $130 million to $2 million for the companies in the study. On average, study participants invested more than $35 million for launch-related activities. Market entry for primary care product launches consumes far greater resources than specialty launches, the study showed. Correspondingly they receive two to three times greater budget resources at launch year to reach the much larger population of primary care physicians.

Key topics covered in the Launch Spend study include:

  • Average Cost: Industry average cost for new pharmaceutical product launch
  • Primary/Specialty Comparison: Cost comparison for specialty vs. primary products
  • Budget Allocation: Percentage of budget allocated to 12 key marketing, education and market access activities during and prior to launch
  • Activities Timing: Timing for conducting promotional and educational launch activities
  • Future Allocation Trends: Launch activities expected to gain a greater share of the budget in the coming 24-36 months, and activities expected to receive reduced share

This benchmarking research drew participation from 27 executives and managers at 23 leading biopharmaceutical companies. About three-quarters of the participants were directors or vice presidents and more than half work within marketing functions or departments.

To access the full report, or to download a complimentary summary containing insights found in this report, click on the following link: http://www3.best-in-class.com/rr1124.htm.

For more information on other recent primary research studies, contact us at 919.403.0251. For related research, visit our Best Practices, LLC Web site at www.best-in-class.com/

ABOUT BEST PRACTICES, LLC

Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations.

 


'/>"/>
SOURCE Best Practices, LLC
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Avanir Pharmaceuticals Announces Publication of AVP-825 Pharmacokinetic Data in Journal "Headache"
2. Auxilium Pharmaceuticals, Inc. Raises $50 Million In Additional Financing
3. Thomson Reuters Reveals New Strategies for Navigating Big Data in the Pharmaceutical Industry
4. Rafarma Pharmaceuticals, Inc. (RAFA) announces plans for PCAOB-Registrant Audit and Streamlining of Corporate Structure to Upgrade Market Listing.
5. Legal Actions, Quarterly Dividends, Collaborations, and New Appointments - Research Report on Johnson & Johnson, Zoetis, Abbott, Teva Pharmaceuticals, and Baxter
6. Amgen and Onyx Pharmaceuticals Announce Early Termination of HSR Waiting Period for Amgens Acquisition of Onyx
7. Isis Pharmaceuticals Stanley Crooke Awarded Corporate Forums Director of the Year
8. Free Download -- Two impressive case studies on Pharmaceutical Intellectual Property
9. Inovio Pharmaceuticals to Present at Investor Conferences and Town Hall Los Angeles
10. Actinium Pharmaceuticals Appoints Corey Sohmer As Vice President Of Finance And Business Development
11. GW Pharmaceuticals Commences Phase 1 Clinical Trial of GWP42006 as a Potential Treatment for Epilepsy
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/18/2017)... 18, 2017  Cardinal Health (NYSE: CAH ... 2017 earnings per share (EPS) guidance and providing a ... in conjunction with this morning,s announcement of the planned ... Nutritional Insufficiency businesses. Cardinal Health now believes ... be at the bottom of its previous guidance range ...
(Date:4/18/2017)... -- Research and Markets has announced the addition of ... offering. ... market to grow at a CAGR of 6.35% during the period ... has been prepared based on an in-depth market analysis with inputs ... growth prospects over the coming years. The report also includes a ...
(Date:4/18/2017)... SUNNYVALE, Calif. , April 18, 2017 /PRNewswire/ ... results of collaboration started in 2016, in which ... "Artificial Brain SOINN". The companies achieved initial results ... ultrasound solution by Artificial Brain SOINN. The results ... Tokyo Big Sight, April 19-21, at booths 4505 ...
Breaking Medicine Technology:
(Date:4/26/2017)... ... April 26, 2017 , ... Datos Health , developer of a pioneering ... , the largest Electronic Medical Records (EMR) provider in South Africa. By using ... a patient’s remote health progress, empowering the patient to take direct responsibility for their ...
(Date:4/26/2017)... FL (PRWEB) , ... April 26, 2017 , ... Miami ... anniversary as a dentist. , “I could have never imagined back in 1991 that ... personally,” said Dr. Gallardo. , Over the last 25 years, Dr. Gallardo has pioneered ...
(Date:4/26/2017)... ... April 26, 2017 , ... ... for sponsors and CROs to speed clinical development, has released the industry’s ... Bioclinica AGILE RTSM provides seamless clinical supply forecasting and management ...
(Date:4/25/2017)... ... April 25, 2017 , ... ... agreement to be the preferred physical therapy provider for Derby City CrossFit, effective ... Derby City CrossFit as quickly and effectively as possible, ProRehab’s sports physical therapists ...
(Date:4/25/2017)... ... April 25, 2017 , ... ... compare student test score performance for the 2015-16 school year across Wisconsin’s public ... programs. Though it highlights important patterns in student test score performance, the report’s ...
Breaking Medicine News(10 mins):