1. The pharma industry has seen sweeping changes since 2020, with some contradicting trends like stressed bottom lines, attrition and more. What corrections does the industry needs to make on priorities in 2024?
2023 has indeed seen some phenomenal portfolio changes for many biopharmacompanies. Some of them spun off their generics business into separate companies to focus on an innovative products pipeline. As the Inflation Reduction Act (IRA) puts pressure on pricing, biopharma companies will continue to optimise their portfolios and business strategies in 2024. We anticipate that they will focus a lot more on upcoming launches. It is critical they get these launches right. They will make tough decisions on the right go-to-market (GTM) models for their launch products versus those in mature stages and those about to lose exclusivity (LOE). Focus and partnerships will be key to their strategies in 2024 and beyond.
2. Throughout the last year, there was a lot of movement in indications such as Alzheimer’s and also, more recently, the anti-obesity and weight loss categories. What are the guard rails that the industry needs to put in place for commercial success?
Regardless of the product category, we believe five factors are vital for commercial success:
- Payer activation and reimbursement
- Intelligent and early regulatory engagement
- Wide adoption by target healthcare professionals (HCPs)
- Much better field force effectiveness and efficiency
- Excellent patient engagement and adoption.
We validated these recently in our study on biopharma launch success, with fifteen commercial leaders with deep experience in successful product launches calling out these five factors as a must-have for ensuring commercial success.
Read the article in full here.
