Launch perspectives: The new rules for success in Pharmaceuticals
There has never been a more challenging time for product launch in the pharmaceutical industry.
Approvals are at an all-time high, the market is more competitive than ever, and there is an urgent need to refresh revenues as a wave of products go off-patent. Centralised reimbursement and formulary decisions mean success at the point of launch is binary. The future looks tough. And the industry’s recent track record with product launches is poor: two thirds of pharma launches between 2003 and 2009 performed below forecast. In addition, sales are down (with peak sales 30% down on 1996 levels) and 90% of launches in Europe face restrictions from government or payers.
This means a dramatic rewriting of the rules for a successful product launch. How can pharma companies learn from their past and from other industries to respond to the new rules for success?
Eden McCallum’s new report, featured in January’s PharmaTimes, explores why so many pharma companies struggle with launch, and how to succeed.