While this type of transformation amid changing industry dynamics can seem overwhelming to young biotech companies embarking on their first or second launch, it enables them to keep pace with the competition and build long-term value. For example, company leaders who haven’t already done so need to move from a clinical or asset focus to a more commercial one. ![]() These factors include intensifying competition in the market, the rise of specialty drugs that need more targeted launch efforts, reduced face time with physicians due to the pandemic and other factors, and the need for multichannel digital engagement with consumers and other stakeholders.įor small and midsize biotechs navigating these headwinds, a mindset shift around leading practices for both launch and overall operations is key. Within today’s ever-changing health care ecosystem, several new factors have added even more complexity to the product launch process. The launch process is complex, often involving unforeseen challenges around everything from raw materials to clinical trials. Below, we discuss several key considerations for biotech leaders. ![]() ![]() These entities’ entire existence often depends heavily on successful product rollout, but to enable success, they must address several launch performance challenges. ![]() As the biopharma industry continues to evolve in the midst of a transition period, launching new drugs is one of the most critical phases of the product lifecycle for small and midsize biotechnology (biotech) companies.
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