Press Release (ePRNews.com) - Toronto, Canada - Jan 16, 2018 - Achieving product approval and reimbursement in Europe for a new biopharmaceutical product is essential to ensuring that the product is successful. However, approval and reimbursement by themselves are not sufficient to ensure a commercially successful European launch. There are several examples of approved, reimbursed but commercially unsuccessful biopharmaceutical products. Furthermore, many companies either choose not to launch in Europe or simply out-license their products in Europe, sacrificing potential revenues due to the perceived complexity of the European market.
Commercially successful European launches are the result of specific strategic commercial decisions obtained through rigorous analysis, aligned across the organization and effectively implemented. Experience has demonstrated that rigorous, structured primary research, to understand the new product’s market, drives critical insights that lead to greater product uptake and success.
The European market presents a particular challenge to new pharmaceutical firms. In addition to varying legal requirements, language and cultural differences across European countries, there are differences across European countries in terms of:
- Where patients present for diagnosis
- The setting of care in which patients are eventually treated
- How treatment is administered
- How diagnostic tools are used
- The barriers to receiving treatment
- Who actually makes the treatment decisions for patients
- What criteria and process decision makers use
Understanding these subtle country variations allows a tailored launch plan that ensures a faster uptake and, ultimately, a commercially successful launch.
In this webinar, presenters from the Syneos HealthTM Commercial Strategy and Planning team including Managing Director Alex Fink, and Senior Engagement Managers Jackson Carroll and Thunicia Moodley, will draw upon their experience of working on commercial launch strategy for dozens of products to highlight the key strategic considerations that ultimately make a biopharmaceutical product a commercial success.
For more information about this complimentary event please visit: Strategy for Launch Success: Strategic Considerations for a Commercially Successful Biopharmaceutical Launch in Europe.
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Nima Rajan Source :
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