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Successful Market Education Strategies and Tactics for New Pharmaceutical Product Launches in the Oncology Therapeutic Area
Date:12/2/2011

CHAPEL HILL, N.C., Dec. 2, 2011 /PRNewswire/ -- As the pharmaceutical industry continues to win new approvals and indications for cancer therapies, the global oncology market is on track to reach $75 billion by 2013. While the U.S. dominates the oncology market, it is also one of the most daunting countries for new products to penetrate.

Faced with an increasingly challenging marketplace, pharmaceutical and biotech companies have come to recognize the value of market education in winning support among the key oncology stakeholders that can help new products gain a foothold.

Like other therapeutic areas, oncology faces a payer-driven environment that pushes organizations to build compelling value equations for their products that will meet the needs of the payer sector. To meet this need, oncology leaders initiate nearly all payer, Medicare, Medicaid and government education activities earlier than other therapeutic areas, according to a research study from Best Practices, LLC. The study found that oncology leaders started seven of 10 payer education and engagement activities by Phase II whereas other therapeutic areas only commenced two of the 10 activities at that phase of clinical development.  

The report, Shaping the Marketplace to Support Successful Oncology Product Launches: Tactics for Educating KOLs, Physicians, Patients and Payers, also presents education strategies and tactics for other key stakeholder groups such as KOLs, physicians, patients and advocacy groups. The 150-page report contains 40 narratives from oncology launch leaders and more than 450 benchmark metrics on the most effective physician, payer and patient education practices conducted from clinical development through launch.

The research - which includes oncology and total benchmark class segments - attracted 34 executives and managers from 26 leading pharmaceutical, biotech and medical d
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SOURCE Best Practices, LLC
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