Navigation Links
New Research from Best Practices Can Save Biopharma Companies Millions: Pharmaceutical New Product Planning - Structure and Activities to Drive Profitability
Date:1/29/2010

CHAPEL HILL, N.C., Jan. 29 /PRNewswire/ -- With the prospect of health-care reform still looming, pharmaceutical and biotech companies face tremendous pressure to keep the costs of their products down.  

However, developing a new drug requires vast funding:  the typical drug development cycle, from Petri dish to pharmacy shelf, can consume approximately 12-15 years and cost up to $1 billion.  Clinical trials represent the most expensive phase of compound development, sometimes accounting for 75% of total development expenses.  In fact, late-stage clinical trials can cost upwards of $5,000 per patient per day over a several year span.  

It is estimated that only 1 in 10,000 compounds tested are ever approved by the FDA and reach the consumer market.  When a project is halted late in the development cycle, companies stand to lose hundreds of millions of dollars – a sum the company is forced to recoup in the pricing structure of the future medications it brings to market.  

A highly functioning New Product Planning (NPP) group is a company's first line of defense against devastating losses.  To be effective, NPP groups must work across all facets of the developmental cycle.  Indeed, NPP teams interact with key stakeholders throughout the R&D, Medical Affairs, Marketing, and Sales functions, and are often responsible for such crucial activities as projecting market share, developing potential product profiles, cultivating relationships with thought and key opinion leaders, and managing the strategic publication of clinical data.

Best Practices, LLC has released a timely study to enable NPP leaders to act proactively – instead of reactively – to the pricing pressures gathering on the horizon.  This study, Pharmaceutical New Product Planning: Structure and Activities to Drive Growth and Profitability, identifies the full set of activities that NPP groups perform across the development cycle as well as the optimal structure and roles of NPP groups.

The research, with a benchmark class that features Abbott, Lilly, Merck, Novartis and Sanofi-Aventis among others, examines dozens of NPP developmental activities in terms of timing during the development process, intended outcomes and value for the organization. In addition, the study details the strengths and weaknesses of various NPP organizational structures and how the operational characteristics of the NPP function evolve as a company matures.

To download a complimentary study excerpt, or to view a sample of key topics and study findings, go to: http://www3.best-in-class.com/rr969.htm.

To learn more about Best Practices' other timely research visit: http://www3.best-in-class.com or contact Benjamin Gregory at 919-767-9160 or bgregory@best-in-class.com

ABOUT BEST PRACTICES, LLC

Best Practices, LLC serves 48 of the world's 50 top pharmaceutical companies.  For 17 years, we have conducted 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.

SOURCE Best Practices, LLC

RELATED LINKS
http://www.best-in-class.com

'/>"/>

SOURCE Best Practices, LLC
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. The Multiple Myeloma Research Consortium (MMRC) and Proteolix Initiate Phase 2 Clinical Trial Investigating Carfilzomib for the Treatment of Multiple Myeloma
2. Multiple Myeloma Research Consortium (MMRC) Partners with Novartis to Advance Phase II Study of Deacetylase Inhibitor
3. Lexicon to Present Research Results at American Chemical Society Meeting Regarding Target of LX1031 Drug Candidate
4. Researchers at Cleveland Clinic Identify Site of Dysfunction in HDL, Carrier of Good Cholesterol
5. Video: New Research Discovers Independent Brain Networks Control Human Walking
6. Quark Pharmaceuticals Extends Research Agreement with State University of New York for Proprietary siRNA Compounds for Acute Hearing Loss
7. Cleveland Clinic Researchers Identify Mechanism Behind Platelet Function and Potentially Fatal Blood Clot Formation
8. HistoRx and Radiation Therapy Oncology Group Initiate Brain Tumor Biomarker Research Partnership
9. Diabetes Research Institute Invention Promotes Growth of Stem Cells into Insulin-Producing Cells
10. Researchers Identify Virus Possibly Responsible for Declining Honeybee Population Using 454 Sequencing Technology from Roche
11. Peregrine Researchers Report Data Showing Bavituximabs Potential to Shrink Human Prostate Tumors in Model of Relapsed Disease
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... , December 2, 2016 ... "In Vitro Diagnostics/IVD Market by Product (Instruments, Reagents, ... Application (Diabetes, Oncology, Cardiology, Nephrology, Infectious Diseases) - ... market is valued at USD 60.22 Billion in ... a CAGR of 5.5% during the forecast period ...
(Date:12/2/2016)... 2016  The Addiction Treatment Advisory Group (ATAG), ... Care Pharmacy (AMCP), has released detailed findings on ... opioid addiction crisis, including through improved access to ... ATAG,s newly released paper, "The Role of Managed ... many issues around gaps and barriers to addiction ...
(Date:12/2/2016)... Dec. 2, 2016 Boston Scientific Corporation (NYSE: ... to acquire certain manufacturing assets and capabilities of the ... advanced biological tissue business, as well as a 15% ... million in cash. The Neovasc advanced biological tissue business ... Boston Scientific Lotus™ Valve System. * Upon completion ...
Breaking Medicine Technology:
(Date:12/2/2016)... ... December 02, 2016 , ... ... launch of its 60-day free trial program for all of the company’s desktop ... offer a truly hassle free experience. , FlexiSpot’s unique desktop risers use an ...
(Date:12/2/2016)... NY (PRWEB) , ... December 02, 2016 , ... U.S. ... exclusive interview with Mediaplanet, Dr. Murthy explains how he was inspired to practice medicine ... I learned that medicine is about more than making diagnoses and prescribing medicine,” he ...
(Date:12/2/2016)... CA (PRWEB) , ... December 02, 2016 , ... ... surgeon in Beverly Hills, California, will be included in the 2016 “Guide to ... to exceptional professionals based on the amalgamation of their education, experience, and professional ...
(Date:12/2/2016)... Delaware (PRWEB) , ... December 02, 2016 , ... ... released a new version of its SaaS LIMS, CloudLIMS Lite. CloudLIMS Lite helps ... sample entry through labeling, storing, shipping and disposal. The new version is a ...
(Date:12/2/2016)... ... December 02, 2016 , ... Sourced from the Isbre Springs beneath ... including its unmatched natural purity of just 6 ppm TDS (Total Dissolved Solids) in ... Water has been available in several ShopRite and FoodTown stores in NJ and received ...
Breaking Medicine News(10 mins):