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:6/23/2016)... HILLS, Calif. , June 23, 2016 Any ... the many challenges of the current process. Many of them ... because of the technical difficulties and high laboratory costs involved. ... have to offer it at such a high cost that ... afford it. Dr. Parsa Zadeh , founder ...
(Date:6/23/2016)... , June 23, 2016 Research ... MEMS Devices Medical Market Analysis 2016 - Forecast to 2022" ... The report contains up to date financial data ... analysis. Assessment of major trends with potential impact on the ... analysis of market segmentation which comprises of sub markets, regional ...
(Date:6/23/2016)... -- , , , WHEN: , ... , , , LOCATION: , , , Online, with free ... EXPERT PANELISTS:  , , , Frost & Sullivan,s Global Vice President ... Industry Analyst, Divyaa Ravishankar and Unmesh Lal, Program Manager , ... is witnessing an exceptional era. Several new demand spaces, such as ...
Breaking Medicine Technology:
(Date:6/26/2016)... ... June 26, 2016 , ... PawPaws brand pet ... product that was developed to enhance the health of felines. The formula is all-natural ... two main herbs in the PawPaws Cat Kidney Support Supplement Soft Chews ...
(Date:6/25/2016)... ... 25, 2016 , ... Austin residents seeking Mohs surgery services, can now turn ... to Dr. Russell Peckham for medical and surgical dermatology. , Dr. Dorsey brings specialization ... selective fellowship in Mohs Micrographic Surgery completed by Dr. Dorsey was under the direction ...
(Date:6/25/2016)... ... ... As a lifelong Southern Californian, Dr. Omkar Marathe earned his Bachelors in ... School of Medicine at UCLA. He trained in Internal Medicine at Scripps Green Hospital ... at the UCLA-Olive View-Cedars Sinai program where he had the opportunity to train in ...
(Date:6/24/2016)... ... 24, 2016 , ... A recent article published June 14 on ... article goes on to state that individuals are now more comfortable seeking to undergo ... such as calf and cheek reduction. The Los Angeles area medical group, Beverly Hills ...
(Date:6/24/2016)... ... 24, 2016 , ... The Pulmonary Hypertension Association (PHA) learned ... receive two significant new grants to support its work to advance research and ... by recognizing patients, medical professionals and scientists for their work in fighting pulmonary ...
Breaking Medicine News(10 mins):