Navigation Links
For Pharma Companies, Launching Multiple Similar Products Can Be a "Good Problem" but Requires Smart Resourcing
Date:5/3/2013

CHAPEL HILL, N.C., May 3, 2013 /PRNewswire/ -- In a healthcare market where even the largest pharma manufacturers must squeeze revenue from every product in the portfolio, some companies are confronted with the "good problem" of having a rich pipeline featuring multiple new products. 

But launching and promoting each new product is both costly (hiring and training new "people resources" such as field sales reps) and strategically challenging (effectively positioning similar products).  To succeed in this critical task, healthcare commercial leaders and brand managers have in many cases begun to embrace a franchise approach to promoting similar products.

According to new research from Best Practices, LLC, a franchise approach is paying tangible dividends for many companies, enabling franchise users to cut overall promotional costs, boost efficiencies across product support teams, and accrue the reputational benefits of being seen as a treatment leader in a given therapeutic area.

For example, our latest research reveals that:

  • The highest net franchise cost savings come in reducing average sales force size & training (58% of franchises), increasing sales force effectiveness (57%), and enhanced customer targeting (57%).
  • 74% of franchises effectively removed redundancies in customer targeting, enabling greater rep effectiveness during key lifecycle stages – keeping territories smaller and shrinking rep-to-customer ratios during launch.
  • From a risk perspective, the chances for launch failure within a franchise expand exponentially when multiple launches occur within a short window (i.e., less than 6 months).  Poor rep execution in messaging and product differentiation is the greatest liability in rapid multiple launches.

To help equip healthcare Sales, Marketing, and Commercial leaders with the tools and insights needed to effectively and efficiently launch and promote multiple products, Best Practices, LLC conducted this critical research, which is now available in the new primary research report "Best Practices in Launch Optimization: How Promotional Efficiency can be Leveraged to Support Multiple Products & Indications".  

Key study topics examined include:

  • Managing Similar Products or an Integrated Product Portfolio
  • Optimizing Sales Resources within Franchise Operations
  • Combining Resources for Efficiently Marketing Multiple Products with Similar Indication
  • Optimal Brand Team Approaches for Product Franchise

To learn more about this report, download a complimentary report excerpt by clicking here. For more information on other recent primary research studies, contact us at 919.403.0251, or visit our website at bestpractices@best-in-class.com. Check out our new blog at http://whybenchmarking.com/ for more benchmark studies.

ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide.  Our clients include 48 of the top 50 leading global healthcare companies. We conduct primary research and consulting using comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis of 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. AcelRx Pharmaceuticals to Hold First Quarter 2013 Financial Results Conference Call and Webcast on May 8, 2013
2. Valeant Pharmaceuticals Provides Efinconazole Update
3. Arena Pharmaceuticals Provides Corporate Update and Reports First Quarter 2013 Financial Results
4. Cumberland Pharmaceuticals Reports First Quarter Financial Results
5. OncoGenex Pharmaceuticals, Inc. Provides Clinical Development Program Overview and Reports Financial Results for First Quarter 2013
6. Webcast Alert: Isis Pharmaceuticals First Quarter 2013 Financial Results Conference Call
7. 2013 Pharmaceutical Drug Naming Trends
8. SynteractHCR Addressing Successful Ways to Approach Sponsor and CRO Collaboration at May Pharmaceutical Events in US and Europe
9. Optimer Pharmaceuticals to Host Conference Call and Webcast to Discuss First Quarter 2013 Financial Results
10. Boehringer Ingelheim Pharmaceuticals, Inc. and Eli Lilly and Company launch educational campaign about emerging science in type 2 diabetes
11. Frost & Sullivan: Pharma and Biotech Industries Headed Toward an Era of Reduced Profit Margins
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/20/2017)... BOSTON , April 20, 2017   ZappRx, Inc ... the specialty drug prescribing process, today announced it closed $25 ... Fund, a venture capital firm based in Seattle ... Qiming Venture Partners . The Series B round included ... A round in 2014, and GV (formerly Google ...
(Date:4/20/2017)... April 20, 2017 Research and Markets ... Contract Manufacturing Services Market Analysis By Service (Manufacturing, Research), By ... 2014 - 2025" report to their offering. ... The Latin American pharmaceutical contract ... by 2025 Low drug registration cost in Latin ...
(Date:4/19/2017)... -- Global Surgical Drainage Device Market: Overview ... excess liquid and air. The fluid to be drained ... Surgical drains are used in a wide variety of ... surgery, neurosurgery, plastic surgery etc. Common use of surgical ... fluid e.g. blood or pus. Surgical drains are available ...
Breaking Medicine Technology:
(Date:4/28/2017)... ... 28, 2017 , ... The Texas Cord Blood Bank (TCBB), a program of ... team at Women’s Hospital at Renaissance in Edinburg for their outstanding efforts in collecting ... decide to donate. , “Women’s Hospital at Renaissance has been a collection partner ...
(Date:4/28/2017)... ... April 28, 2017 , ... ... could substantially improve drug safety and minimize the cost of development. In this ... channel inhibition using cell lines and for cardiac toxicity using induced pluripotent stem ...
(Date:4/28/2017)... , ... April 28, 2017 , ... Bill Howe started ... in the coastal communities. After Tina Howe joined the team, the Bill Howe brand ... honest services at affordable rates, and giving back to the San Diego community in ...
(Date:4/28/2017)... ... April 28, 2017 , ... Researchers at Moffitt Cancer ... CentrePoint Data Hub in a sample of participants enrolled in an ongoing ... sleep monitoring solutions for the global scientific community. The company’s new CentrePoint Data ...
(Date:4/28/2017)... ... April 28, 2017 , ... Intellitec Solutions ... Grove Foundation implement a Microsoft Dynamics GP solution that integrates to their PointClickCare ... that specializes in long-term care, Brooke Grove now has the capability to achieve ...
Breaking Medicine News(10 mins):