When launching a pharma brand, the pressure to make it a success is huge. But what does it mean, achieving an excellent brand launch?
According to Jo Lopez, CELforPharma faculty member of Effectively Leading Country Launches in Pharma, there are 6 key outcomes that define an excellent launch.
Scientific Innovation and Measurable Benefits
The cornerstone of a successful pharmaceutical launch is realising scientific innovation that delivers measurable benefits to both clinicians and patients. This innovation must translate into tangible improvements in patient health outcomes and clinical practice. The development of a new drug or treatment that significantly advances the standard of care is a hallmark of an excellent launch. Such innovations often involve years of rigorous research and development, culminating in a product that meets unmet medical needs or provides superior efficacy or safety compared to existing treatments.
Economic Value to Payers and Society
An excellent launch also delivers significant economic value to payers and society. This is demonstrated through measurable economic terms such as cost savings, improved efficiency, and overall healthcare expenditure optimisation. A drug that can reduce hospitalisation rates, shorten recovery times, or decrease the need for additional medical interventions provides clear economic benefits. These benefits are crucial for gaining the support of healthcare payers which are essential for the widespread adoption of the new treatment.
Industry Recognition and Expertise
Recognition by the medical and healthcare community is another critical aspect of a successful launch. The company must be acknowledged for its expertise and contributions to the field. This recognition often comes in the form of peer-reviewed publications, endorsements by leading medical professionals, and awards from industry bodies. Establishing a reputation for excellence and thought leadership helps build trust and credibility, which are vital for the acceptance and success of new products.
Commercial Success Across Timeframes
Profitability is a key indicator of a successful launch, with the company achieving commercial success in the short, medium, and long term. This involves meeting or exceeding internal and external expectations regarding sales performance, market share, and return on investment. A well-executed launch strategy ensures that the product quickly gains traction in the market and maintains its momentum over time, contributing to the company's overall financial health and growth.
Alignment of Personnel, Processes, and Capabilities
The effective alignment of company personnel, processes and capabilities is essential for delivering a successful launch. It is essential that all teams, from research and development to marketing and sales, are coordinated and working towards common goals. Robust processes and capabilities, such as supply chain management, regulatory compliance and market access strategies, are crucial for overcoming the challenges associated with bringing a new pharmaceutical product to market.
Optimising Patient Health Outcomes
Ultimately, the most important measure of a successful launch is the impact on patient health outcomes. The right patients must receive the right medicine through a healthcare system oriented around their needs. This patient-centric approach ensures that the benefits of the new treatment are maximised, leading to improved health and quality of life. Achieving this goal requires close collaboration with healthcare providers, patient advocacy groups, and other stakeholders to ensure that the new product is accessible, affordable, and effectively integrated into clinical practice.
An excellent launch is characterised by these elements that are interdependent and all contribute to the overall success, ensuring that the new treatment can make a meaningful and lasting impact on healthcare and society.
Learn more about this topic at the following short duration course(s):
Effectively Leading Country Launches in Pharma
With Jo Lopez
