CHAPEL HILL, N.C., July 7, 2011 /PRNewswire/ -- Expensive drug development processes, rising competition and evolving market needs are leading biopharmaceutical companies into implementing commercialization strategies earlier and earlier into the new product development process. In fact, Best Practices, LLC, study, Pharmaceutical New Product Commercialization: Preparing for Market Success (click link to download complimentary research excerpt), reveals that 61% of benchmarked companies begin early stage commercialization activities in at least one functional area during the pre-clinical phase.
The report also shares the insights on why the work done through early stage commercialization group is invaluable and how other biopharmaceutical companies' Early Stage Commercialization functions are structured, how leaders of these groups manage their functions, and for what activities and role Early-Stage Commercialization leaders have responsibility.
Interviews and key insights in this study are drawn from leaders at 20 different biopharmaceutical companies, including Abbott, Amgen, Bayer, Eli Lilly, GlaxoSmithKline, Novartis and Shire. This Best Practices, LLC benchmarking study identifies winning strategies, structures, and best practices in early-stage product commercialization and portfolio management.
The full 85-page report contains more than 75 metrics and scores of narratives that companies can use to improve early-stage decision making and enhance product design to gain an overall competitive advantage in the marketplace. Key topics of this primary research include:
- Optimizing the value of assets
- Driving alignment of product development with unmet patient needs
- Identifying commercial viability of drug candidates and helping to redirect funding from projects with lower potential to those with higher potential for success
- Focusing all parties on areas expected to have the greatest return on investment
- Enabling project prioritization
- Facilitating collaboration between commercial and clinical development staff
- Informing internal and external investment decisions
- Continuously monitoring and communicating changes in the market that affect product potential
- Paving the way for successful product launch
To learn more about the study, download a complimentary summary at http://www.best-in-class.com/rr1057.htm
For more information, contact Cameron Tew, Executive Director of Research and Publishing at Best Practices, LLC at (919) 767-9246 or [email protected].
BEST PRACTICES, LLC conducts work based on the simple yet profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies. Best Practices, LLC has been a leader in pharmaceutical research and consulting for more than 17 years; our clients include 48 out of the top 50 pharmaceutical companies.
SOURCE Best Practices, LLC