Identifying the next blockbuster is increasingly challenging for pharmaceutical and biotech companies, so launch teams are under pressure to deliver sales performance which matches analyst expectations. A recent report suggested that over one-third of new product launches fail to get close to first year expectations1. A possible explanation could be that only ~66%of new products are able to demonstrate value, in terms of improved patient outcomes for a given cost.2
While defining the value of your brand to the relevant healthcare system is critical, equally as important is finding the optimal mix of channels to ensure the necessary stakeholders are familiar with the associated story. Partnering with a medical communications agency can be a key differentiator in the planning cycle. Chris Barton, our Strategic Solutions Director, reflects on how an agency adds value as part of a robust strategic consulting partnership.