Editor's Note: In 2022, Biotechs face a challenging macroeconomic environment that has limited their access to growth capital supplied by investors. As many biotechs have leveraged investor capital to fuel growth, the drying up of available funding will have a material impact on their commercial operations. Biotechs with weaker cash positions will face more pressure to carefully evaluate spend and look for more sustainable growth pathways
Launching a successful pharmaceutical brand is no easy task. It takes significant stakeholder alignment across many strategic fronts to successfully transition from FDA approval to product adoption and growth. And even with a sizable base and formulary placement, it doesn’t necessarily follow that a brand will overcome the “Coverage Hurdle'' that requires a brand to jump through hoops to convert market access to a high % of covered dispenses
Channel strategy underpins the deployment of a life science company’s overall commercialization strategy. A company’s channel strategy is the tie that binds the market access, patient access, marketing, trade, and sales strategies to meet brand goals effectively. Ideally, it tightly integrates the processes for managing the logistics of getting products from the manufacturer to patients, implementing services to support patient access and medication adherence, and capturing channel data to measure success and inform decision-making
One of the most significant burdens on the U.S. healthcare system is nonadherence to drug therapy. Not only does this issue exact a severe toll on patients’ health and quality of life, but the related healthcare costs are also staggering
What matters most for life sciences companies is not the amount of data but knowing how to use it. A Forrester report revealed that data-driven companies experience an annual average growth rate of over 30%. Pharma companies that invest in capabilities to capture and analyze the best data to make informed commercialization decisions will realize better business outcomes and a competitive advantage
Ready to learn more?
Our consultants will work with you to analyze your current channel strategy and make recommendations for how to improve patient access and increase the percentage of scripts getting covered by insurance.