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Study Uncovers Key Success Factors and Common Failure Points for Launching New Metabolic Products in Today's Competitive Healthcare Market
Date:9/2/2011

CHAPEL HILL, N.C.,  Sept. 2, 2011 /PRNewswire/ -- One of the more difficult aspects of planning a new metabolic product launch is balancing the different resource and investment allocations that are needed to prepare the marketplace for a new product.  In particular, organizations wrestle with allocating the appropriate resources for informing key stakeholders as well as other critical launch activities that are carried out across different functional areas.

How does a pharma or biotech company successfully launch a new product into a crowded, competitive marketplace?

Among the several other strategies is this: Many companies seek to gain greater commercial traction in early market entry simply by investing at and above market-leader levels. 

In fact, according to "Success Factors and Failure Points in Metabolic Product Launches," a recent study from Best Practices, LLC, more than half of companies (64%) from a benchmark class of 38 top companies favor spending between 101% - 150% of the market leader's investment level during product launch.

In addition to launch spending, recent market entries have illustrated that there are a critical core set of factors for metabolic products as well as other therapeutic areas: differentiation, defining a target patient population, thought leader engagement, education of key stakeholders, demonstrating value, and use of new technologies.

"Success Factors and Failure Points in Metabolic Product Launches" explores each aspect of this framework for launch success and provides a metabolic segment as well as a data segment representing other therapeutic areas combined.  This comprehensive launch study delivers qualitative and quantitative data on differentiation, pricing, physician and thought leader education, payer and formulary access, launch readiness, resource allocation and much more.

To download a complimentary study excerpt, go to: http://www3.best-in-class.com/rr1112.htm.

Best Practices, LLC used both field surveys and interviews to complete this study. In all, 44 managers and executives at 38 leading bio-pharma companies participated in the survey.  In-depth interviews were conducted with leaders from six organizations who have decades of experience with pharma launches.

Key topics examined in this study include:

  • Winning on Differentiated Product Positioning
  • Winning a Physician's Initial Trial of a New Product
  • Articulating Benefits that Shape Positive Market Perception
  • New Product Pricing Strategy
  • Thought Leader Engagement
  • Physician & Payer Education
  • Preparing Market Constituents
  • Winning Hospital Formulary Access
  • Resource Allocation & Timing

For more information, contact Cameron Tew, Executive Director of Research and Publishing at Best Practices, LLC at (919) 767-9246 or ctew@best-in-class.com.

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 more than 17 years; our clients include 48 of the top 50 pharmaceutical companies.


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SOURCE Best Practices, LLC
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