Market Research Report
Pharmaceutical Launch Sequencing: Establishing Patient Access and Understanding Global Pricing
|Published by||Cutting Edge Information||Product code||250703|
|Published||Content info||79 Pages, 3 Chapters, 400+ Metrics, 65+ Charts/Graphics
Delivery time: 1-2 business days
|Pharmaceutical Launch Sequencing: Establishing Patient Access and Understanding Global Pricing|
|Published: May 30, 2016||Content info: 79 Pages, 3 Chapters, 400+ Metrics, 65+ Charts/Graphics||
Setting a global launch sequence for pharmaceutical products requires extensive research and planning to coordinate the launch effectively. While a launch sequence will depend on a number of factors specific to the individual product - including marketed indication(s), available evidence and competitors - there are several overall trends for companies to consider while looking to establish a successful launch sequence:
As companies move forward with global launches in an increasingly cost-sensitive environment, small adjustments to launch sequences can result in a significant impact on revenue and overall market access.
This report is designed to help companies maximize their margins when launching products worldwide. It includes answers to specific questions on how to optimize launch sequencing and how to best allocate resources in this space. Key trends are identified in how companies approach launch sequences and what drives decision making among internal and external stakeholders.
Cutting Edge Information's analysts synthesized the following four key findings and recommendations from the full breadth and depth of this project's research. These principles are signposts to help you improve your company's strategy for pharmaceutical product launch activities. While these points are not inclusive of all elements in this report, they emphasize some of its central and most critical concepts.
At many pharmaceutical firms, C-level executives have ultimate responsibility for launch sequence decisions. Because launch sequencing has such a large impact on a brand's potential revenue, these high-level executives - or in some publicly traded companies, a chairman and executive board - are best positioned to review and approve plans. “How they sequence their launch, or when they invest, is [a company's] core expense,” explained a consulting Company C executive.
Figure E.1 highlights the business unit with ultimate responsibility for approving launch sequences among surveyed companies. The majority of surveyed firms, 62%, grant launch sequencing approval to C-level executives or the company's executive board. Another 13% of surveyed companies each look to marketing teams or to specialized launch sequencing committees for final approval. Only 6% each look to market access teams or brand managers.
Though executives may have final say in launch sequencing decisions, they may not be involved in actual planning sessions. Top-level executives are typically involved during early planning stages, when committees and any consultants discuss methodology, as well as during final presentations or recommendations.
A Company C consultant noted that having C-suite executives involved early in the planning process is particularly helpful to the overall process. “They make the decisions - what's the go or no-go - but they have to use the right criteria. If they don't agree with your criteria upfront, they will second-guess their team the whole way through [the planning process],” the consultant explained.
Business Unit with Ultimate Responsibility for
Approving Launch Sequence: All Companies
Planning for a successful global launch is a complicated process. Committees must take into account a number of considerations across multiple markets. Pharmaceutical companies must be well-informed about market-specific obstacles, including regulatory requirements and price referencing schemas, to best formulate launch sequences.
Figure E.2 highlights the key tools that surveyed companies use during launch sequence development. The majority, 88% of surveyed firms, look to regulatory guidance to inform global launch planning. Both large and small pharma companies rely on guidance - at 83% and 80% of surveyed firms, respectively. Regulatory guidance informs market access teams of any requirements that companies must meet to enter specific markets. Companies learn of any groundwork they must perform and can better gauge the length of time required for market approval.
Tools Used in Launch Sequence Development: All Companies
When compared with data collected in 2012, the newest finding shows an increase in the percentage of companies targeting Brazil, Russia, India, and China (BRIC) in their second wave. As Figure E.3 shows, from Brazil's 53% increase to Russia's 2% increase, the BRIC markets have become earlier targets in pharmaceutical launch sequences.
Year- Over-Year Trends in Second Wave Launches: All Companies
To maintain realistic launch sequencing targets, constant contact with regulatory groups is required. Figure E.4 shows how frequently groups from different regions maintain contact with internal regulatory groups. Research on regulatory guidance, as discussed earlier, is an important aspect of any launch and should be taken in tandem with detailed internal discussions with regulatory groups.
Number of Meetings per Month with Regulatory Group About
Launch Sequences, by Group Region