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:6/24/2016)... , June 24, 2016   Pulmatrix, Inc ., ... developing innovative inhaled drugs, announced today that it was ... Investments reconstituted its comprehensive set of U.S. and ... "This is an important milestone for Pulmatrix," said Chief ... shareholder awareness of our progress in developing drugs for ...
(Date:6/23/2016)... , June 23, 2016 Research and ... Global Market - Forecast to 2022" report to their ... treatment method for the patients with kidney failure, it replaces ... fluid from the patient,s blood and thus the treatment helps ... and chloride in balance. Increasing number of ...
(Date:6/23/2016)... 23, 2016 Roche (SIX: RO, ROG; OTCQX: ... its Elecsys BRAHMS PCT (procalcitonin) assay as a dedicated ... shock. With this clearance, Roche is the first IVD ... solution for sepsis risk assessment and management. ... and PCT levels in blood can aid clinicians in ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... ... of Bruton Memorial Library on June 21 due to a possible lice infestation, as reported ... head lice: the parasite’s ability to live away from a human host, and to infest ... in the event that lice have simply gotten out of control. , As lice are ...
(Date:6/25/2016)... Oklahoma (PRWEB) , ... June 25, 2016 , ... ... both athletes and non-athletes recover from injury. Recently, he has implemented orthobiologic procedures ... Oklahoma City area —Johnson is one of the first doctors to perform the ...
(Date:6/24/2016)... ... 24, 2016 , ... Those who have experienced traumatic events may suffer from ... avenues, such as drug or alcohol abuse, as a coping mechanism. To avoid this ... coping following a traumatic event. , Trauma sufferers tend to feel a range of ...
(Date:6/24/2016)... ... ... Global law firm Greenberg Traurig, P.A. announced that 20 Florida attorneys are ... for this recognition are considered among the top 2 percent of lawyers practicing within ... of this year’s Legal Elite Hall of Fame: Miami Shareholders Mark D. Bloom, ...
(Date:6/24/2016)... ... June 24, 2016 , ... People across the U.S. are ... Code Talker Award, an essay contest in which patients and their families pay tribute ... presented at the 2016 National Society of Genetic Counselors (NSGC) Annual Education Conference (AEC) ...
Breaking Medicine News(10 mins):