IMS reveals how to avoid common launch miscues
With its “What Drives Launch Excellence?” study released in May, IMS Health examined over 4,200 product launches, in 71 therapy areas, across eight countries, over an eight-year period. The study examined several blockbuster brands including Lilly ICOS’ Cialis, Pfizer’s Celebrex and Merck’s Fosamax.
Because the results of the study showed that pharma companies face increasingly short windows of opportunity when launching new products, the “one-size-fits-all” global launch approach no longer works the way it used to.
Drugmakers must address an increasingly complex decision-making process to be successful, Ray Hill, global head, IMS consulting, told MM&M.
“Launch is the lifeblood of any pharmaceutical company industry but pharma just doesn’t seem to get it right,” Hill said.
SIDEBAR: Launch Basics
■ Market expansion
Almost half (46%) of outperforming launches are market expanders
■ Global consistency
Only 38% of launches were successful in a majority of total countries
■ Optimize launch window
Three out of four launches will not improve on the launch trajectory they are on in the initial six months by the end of a two-year period.
Source: IMS Health