The product launch process is complex however paramount to your overall commercial success. Based on years of experience, BSC has made launch preparedness a core competence to help our clients bring their product to market.
Studies indicate that the lifetime success of a pharmaceutical product is determined within the first few months following a product launch. According to McKinsey, for 85% of pharma launches, the product trajectory is set in the first six months.
Despite this knowledge, life science organisations continue to struggle with product launches caught between external and internal challenges.
The healthcare environment has become more dynamic and diverse. Launch uptakes are now more challenging than ever, with crowded spaces, generic alternatives and reimbursement challenges.
Internally, launch processes are notorious complex as they involve multiple functions, tasks and both internal and external stakeholders. To add to the complexity, sales subsidiaries or distribution partners also play a part in the success of a product launch. As with many processes the human aspect is important and in our opinion, it requires operational experience to appreciate, analyse and understand that part.
The quality of a launch strategy is as critical as its disciplined execution. This undertaking requires collaborative, cross-functional participation, detailed launch plans, clear accountabilities, and an aligned organisation. We know from experience that the period just prior to planned launch is the most challenging and the last chance to realign the current trajectory towards success.
During this time it is not uncommon that the whole organisation is caught up in the final push firmly focused with their activities on the launch date – this could detract from the overall view in ensuring that the right prioritised tasks are being performed.
We can help in supporting you during this critical phase by performing a fact based, frank, launch preparedness analysis. This targets three key steps:
- Evaluate the current launch preparedness status of the organisation vis-à-vis the expected launch
- Identify potential gaps in the current launch planning and execution and propose action to remedy
- Identify main risks & opportunities related to the on-going sales & marketing preparations
The output of the above analysis will provide the key elements for a report on your launch preparedness and recommendations on the required action to deliver the commercialisation strategy.
This holistic view of your launch preparedness, together with the drill-down to potential gaps and risks can help to target specific areas to get you back on track or even validate areas of concern.
Reference: McKinsey, June, 2012, Winning launches: using analytics and creativity to create superior Share of Insight.