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Engagement Overview:
The client, a European pharma company wanted to launch a new product in the market. With nearly 70% of new drugs failing to deliver the expected outcome, the client did not want to take a chance for their new injectable cholesterol drug launch. Also, they noted that their competitors were planning to launch a similar drug in the market. Therefore, they realized the need to thoroughly understand the current market condition and key value drivers to set optimal launch prices. As such, they approached the experts at Infiniti Research to leverage their expertise in offering pharma product launch strategy. By leveraging Infiniti’s pharma product launch strategy, they wanted to execute a successful go-to-market strategy.
Other key objectives of the client were:
Objective 1: Identify the right business partner to support them in the new product launch plan
Objective 2: Analyze in detail the prevailing and potential risks impacting their supply chain operations
Objective 3: Understand all the processes to be followed during a new product launch to meet manufacturing quality requirements
During the COVID-19 crisis, it is critical for companies in the pharmaceutical market to take calculative and well-executed measures to ensure business continuity in the long run. Request a free proposal to know how industry experts at Infiniti Research can help you plan and create comprehensive action plans to navigate the crisis. Request a FREE proposal here.
Our Approach:
To help the client in devising a sound product launch strategy, our experts followed a three-phased approach. The initial phase of the pharma product launch engagement involved conducting a risk analysis study. The factors such as risks related to new drug R&D, adverse drug reactions, supply chain, and product liability were taken into consideration during the analysis.
As a part of the pharma product launch engagement, our experts also conducted comprehensive market research. The factors such as evolving regulatory policies and drug testing process in the European pharma industry were analyzed. This phase of the pharma product launch engagement helped the client to keep pace with evolving cPMG regulations and clinical trial processes.
Business impact of the pharma market access strategy for the client:
By partnering with Infiniti Research, the client was able to generate sales of over €1.2 million in its first twelve months in the market.
By leveraging Infiniti’s pharma market access strategy, the client was also able to:
- Devise a sound pharmaceutical product launch strategy
- Adopt risk management approaches by understanding the current and potential risks in the market
- Clear the pre-clinical testing for their new injectable cholesterol drug in the first attempt
- Devise a marketing and sales plan for promoting their new drug
- Identify the right partners to out-license their drug
For an in-depth market analysis on how COVID-19 will impact the pharmaceutical market and data-driven insights to plan your next moves, request more info here.
About Infiniti Research
Established in 2003, Infiniti Research, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
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May 05, 2020 at 01:02AM
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Why Pharma Product Launch Strategy Really Matters for Businesses? Find Out in this Success Story - Business Wire
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