Product launches are critical events for pharma manufacturers of all sizes– and none are perfect out of the gate. A successful drug launch can determine a company’s financial trajectory for years.
How can your brand ensure launch excellence?
Optimizing controllable factors is proven to be the most reliable predictor of launch success.
These include:
- Quality research
- A strong market access strategy
- Accurate sales forecasting
- A focused, agile launch team that makes accurate decisions based on gathered insights.
Some launches face additional challenges like resource constraints and the need for rapid differentiation. Both medical affairs and commercialization teams play crucial roles in addressing these challenges and ensuring a successful launch.
A study by Bain & Company examined drug launch strategies among top pharmaceutical firms and identified several factors common to successful launches:
- Differentiation through messaging, post-launch data, and services
- Broad customer advocacy via good customer experience
- Organizing each launch as a “micro-battle” with a dedicated launch team
- Ensuring continuous frontline feedback
- Comprehensive market research, effectively communicated to payers and providers
Of these, the top three were identified as factors that more closely correlate with outperforming competitive products. Some, like insights-based messaging, are recognized differentiators, while others, such as KOL advocacy and feedback from the field force, may be overlooked and therefore undervalued.
Here’s how pharma companies can improve their product launch strategies by leaning into these five factors:
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Differentiation through messaging
Differentiation is critical for companies looking to stand out in competitive markets. The Bain study found that companies with the most effective messaging follow three fundamental guidelines:
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- Translate research into actionable insights. All the companies in the study reported using market research tools, including patient pathways, physician segmentation, and focus groups; only those with successful launches transformed market data into actionable insights to make their new product stand out. This included robust analysis and integration of data streams to identify specific benefits that differentiated the product.
“These messages are grounded in clinical data and built on efficacy and safety, but they also consider the cognitive shortcuts doctors deploy when they learn about new treatments and make decisions…Understanding these pathways can help pharma companies communicate the benefits of their medicines more effectively.”
- Translate research into actionable insights. All the companies in the study reported using market research tools, including patient pathways, physician segmentation, and focus groups; only those with successful launches transformed market data into actionable insights to make their new product stand out. This included robust analysis and integration of data streams to identify specific benefits that differentiated the product.
- Conduct post-launch studies to close data gaps and ensure data quality. The Bain study found that successful companies put a post-launch evidence-generation plan in place 18 months before the pharmaceutical product launch to generate a steady stream of data after the launch that supports the drug’s strategic pillars.
- Discover, address, and message to physician and patient pain points. Pharma commercial challenges related to reimbursement, compliance, onboarding, and patient identification can cause prescribers and consumers to avoid new drugs. When a pharmaceutical company is aware of these pain points ahead of launch, it can take steps to offer additional support to address these concerns.
Both medical affairs and commercialization teams play vital roles in developing and delivering messaging that resonates with stakeholders. Medical affairs teams ensure that the messaging is rooted in robust clinical evidence, translating complex data into narratives that resonate with KOLs and prescribers. These teams also focus on developing educational content, engaging with external experts, and addressing knowledge gaps before and after the launch. On the other hand, commercialization teams craft messaging that incorporates the patient perspective, focusing on accessibility, affordability, and adherence to ensure that the therapy meets the needs of payers and providers alike. Together, these efforts create a compelling and holistic value proposition that can help overcome competition.
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Advocacy and Experience: Building Trust
Clinicians have choices when it comes to prescribing, and a new drug won’t be appealing unless they understand its benefits and how it improves patient care. Additionally, knowing that evidence from clinical trials will apply to their real-world populations and that access and affordability won’t prohibit trial and adoption are key factors that go beyond published studies. Bain research shows physicians give pharma companies an average Net Promoter Score of -11%. However, this negative score highlights an opportunity for pharma companies to increase their chances of launch success by offering a more supportive experience to physicians.
Building trust with key stakeholders is essential for companies to build a strong brand reputation and recognition. Medical affairs builds advocacy by fostering relationships with KOLs, engaging in scientific exchanges, and addressing clinical concerns through peer-reviewed evidence. These efforts ensure that the clinical and patient benefits of the therapy are well understood. Meanwhile, commercialization teams enhance the prescriber and patient experience by ensuring smooth access and operational support. They develop financial support and patient onboarding programs to alleviate cost or administrative burdens for HCPs, their office staff, and patients. When combined, these efforts build trust and create a seamless customer experience that sets the stage for long-term advocacy.
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Build a team and make battle plans
Successful companies form a “company within a company” to specialize in launch excellence. This approach gives launch teams “the authority and agility to make decisions that are best for the patient or the brand, [and]…to focus on strategic issues for the success of the launch, not for checklists.”
The difference between a traditional launch approach and the “micro-battle” approach is straightforward:
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Traditional launch approach |
Micro-battle approach |
| Head of launch reports to medical marketing | Head of launch team reports to CEO |
| 90% of work takes place in functional silos | Launch team empower to work across functions |
| Functions control launch budget | Head of launch team controls budget |
| Team focused on functional checklists | Team focused on strategic issues |
| Linear approach to work | Rapid approach to work: test, adapt, learn, and scale |
Creating dedicated launch task forces with clear roles, streamlined communication, and a rapid decision-making framework allows for the agility needed to adapt quickly to challenges.
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Feedback Loops: Listening to the Market
Establishing robust feedback loops is crucial for refining strategies and adapting to market dynamics. Post-launch monitoring is critical in the first months after a product enters the market and begins its journey to patent expiration. Here, the field force can be an essential component of providing feedback based on conversations with HCPs, KOLs, and other key stakeholders. As these observations increase, an insights management platform can be instrumental in integrating and analyzing multiple feedback sources for a comprehensive view of the strategy’s impact on the market. By centralizing these insights in one integrated platform, teams can identify patterns, address stakeholder concerns, and continuously improve their strategies to meet market needs.
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Effectively sharing market research
Life science companies can no longer rely solely on clinical trial data, hoping payers and prescribers will recognize the value of a drug or device. Communicating Health Economics and Outcomes Research (HEOR) effectively is now essential for securing market access and shaping prescribing behaviors. By presenting a comprehensive view of the disease landscape and patient population, teams can build a stronger case to improve market access, optimize formulary positioning, and influence prescribing habits. Leveraging an insights management platform streamlines market research, enabling teams to engage multiple audiences more efficiently, at a lower cost, and within shorter time frames. This approach provides critical evidence on the burden of disease, unmet needs, current treatment pathways, and prescriber preferences. According to Deloitte, gathering this information “sets the foundation for evidence-backed value discussions with stakeholders down the line.”
Key advantages of an Insights Management Platform (IMP) include accelerating market intelligence, understanding strategic impact, and enabling teams to optimize siloed data while organizing historical insights and gaining deeper intelligence on competitors. IMPs support various phases of product development for pharma companies, from planning successful launches and shaping effective marketing strategies to building cohesive, cross-functional launch teams. Rather than multiple streams of communication owned by different teams, some life science organizations use the capabilities of an insights management platform to streamline and organize launch plans. IMPs can organize insights into strategic pillars using various methods. These might include an online resource center to eliminate version control concern;, social media listening before, during, and after product launches; asynchronous discussions for message testing; or tools for gathering, collating, and analyzing observations and notes from field teams.
Conclusion
Achieving launch excellence requires parallel efforts from medical affairs and commercialization teams. While regulatory and compliance requirements necessitate separation, these teams can optimize how they control certain factors and align their strategies and shared tools. By leveraging technology to analyze data and produce actionable insights, agile workflows, and coordinated leadership, pharma companies entering product launches can overcome resource constraints, differentiate their products, and build trust with stakeholders. With the right strategies and tools, even companies with limited resources can deliver successful drug launches that meet the needs of patients, providers, and payers.
To learn more about insights-driven launch strategies, book a meeting with one of our industry experts.
Sources
Bain. How to Make Your Drug Launch a Success. https://www.bain.com/insights/how-to-make-your-drug-launch-a-success/
McKinsey. Beyond the Storm: Launch Excellence in the New Normal. https://mck.co/3xztMBU
Deloitte. https://www2.deloitte.com/xe/en/insights/industry/life-sciences/pharmaceutical-market-access.html
