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Transcript:
MARAH: Hello. I’m Marah Walsh from PharmaVOICE. Welcome to the PharmaVOICE Webcast Network and this episode of the Industry Vision.
I’m here today with Rob Harold, Senior Principal at IMS. Rob is going to talk to us today about the dynamic market and the all important launch window.
Hello, Rob. Thank you so much for joining us today.
ROB: Hello, it’s good to be here.
MARAH: Can you give us a quick overview of the 2008 IMS study and the key findings.
ROB: Sure. Building on the 2007 landmark study, this year we looked at 3000 launches across eight countries. Interestingly, only 21 were deemed excellent. Essentially, there are four key drivers of launch success.
First – different environment. Many of the old rules no longer apply.
Second – different customers. The emergence and power of the payer.
Third – different approaches. We've gone from entire disease launches to launches within segments of a disease.
Fourth – different timescales. The importance of the first six months of launch in establishing long term performance.
More important than ever before, you need to prepare effectively and far enough in advance.
MARAH: Why is the first six months of launch so important? How much time do companies really have to get it right?
ROB: Our research shows that the six month launch window exists across all eight countries. To answer this, we really have to look at both pre-launch and launch activities.
At the pre-launch level, these activities really set the stage. Scientific evidence disseminated via publications and scientific meetings, interactions with key opinion leaders and advisory boards, internal and external communication. Of course, internal alignment and training and managed care access.
At launch, diffusion of innovation and product uptake is key. Longer term market share established early on is difficult to influence after the six month point. Two-thirds of all launches either remain in the same trajectory as they were at six months, or they may even move down.
MARAH: Given this shortened launch window, are there new or different KPIs that should be used to assure that companies understand what's happening with their brand?
ROB: Absolutely. Our analysis quantifies that launches can grow via three distinct pathways; new patient starts, switches or add on therapy. Understanding these are key to growth in achieving launch excellence.
In addition, if for chronic use, repeat prescriptions and the length of therapy will also drive growth. Understanding an alignment of these market dynamics are needed throughout the entire commercial organization. New switch and add goals can be transferred all the way down to the sales representatives level.
MARAH: When should new to brand metrics be used? Where and in which countries?
ROB: They should be used during the launch planning process and throughout the lifecycle of the product. They should be applied throughout the organization and if possible, across all the countries.
MARAH: Can you comment on recent launches and what new to brand data looks like?
ROB: Sure. In the US, we analyzed 32 chronic care brands. We saw strong predictive power of new to brand at the three month mark. Excellent launches started with and consistently maintained a superior new to brand share. This reinforces the need for a deep understanding of market dynamics, patient flow and the new switch and add on patient opportunities.
MARAH: What final guidance do you have for brand teams facing a launch within the next 12-18 months?
ROB: Sure. First, that launch is complex with many interdependent elements. This requires a systematic approach and answers to the following four key questions.
1. The comprehensive of launch readiness. Have all tasks been undertaken and all decision makers addressed?
2. The timeliness of launch readiness. Have all tasks been undertaken in a timely fashion and has enough time been allowed to make effective decisions at critical points?
3. The quality of launch readiness. Have all tasks been completed to an objective benchmark of quality where appropriate in the same way across countries?
4. The relevance of launch readiness. Does the implementation for the launch carry out the strategy that was developed?
MARAH: Thanks Rob. You’ve given our viewers a lot to think about. Thanks for being with us today.
ROB: It was my pleasure.
MARAH: There is a lot more to cover on this topic, and our audience can access the entire interview at www.IMShealth.com/lifelink.
Check out our other interviews in our special marketing excellence series, which features new analysis from IMS and covers additional topics related to new product launches and inline brands.
Thanks again for joining us today for this episode of the Industry Vision.
Have a good day.
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