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Best Practices in Early-Stage Product Commercialization

Friday, February 22, 2008 General News
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CHAPEL HILL, N.C., Feb. 21 With the drug developmentprocess taking up to a decade, launching a product that doesn't meet customerneeds or is poorly positioned against the competition can have an enormouseconomic impact. But by successfully injecting commercial insights early inthe development process, pharmaceutical companies can systematically andcontinuously verify that a compound will meet customer needs, according toresearch by benchmarking leader Best Practices, LLC.
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The report, "From Genes to Giants: Best Practices in Early-StageCommercialization," will help leaders in new product planning and marketresearch learn best practices in early-stage product commercialization. Thestudy contains a wealth of insights gleaned from interviews and benchmarksurveys with pharma companies such as Bristol-Myers Squibb, Eli Lilly,GlaxoSmithKline, Johnson & Johnson, Novartis, and Pfizer.
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To download a complimentary summary of the study, go tohttp://www3.best-in-class.com/rr912.htm .

The 113-page study found that organizational form or structure is acritical enabler of early integration of commercial activities. Leadingcompanies build an organizational structure that fosters commercializationexcellence through integrated portfolio, project and process managementprograms across a compound's development cycles, according to the study.

Firms that learn how to manage the people variables necessary to optimizeproduct commercialization will win a competitive edge in the marketplace, thestudy said. Download additional findings in the complimentary report summaryat: http://www3.best-in-class.com/rr912.htm or contact our SolutionSpecialists at (919) 403-0251 or [email protected].

If you would like to speak to us about how our research can benefit yourorganization, please contact Cameron Tew, Manager of Research and Publishingat Best Practices, LLC at (919) 767-9246 or [email protected].

ABOUT BEST PRACTICES, LLC

Best Practices, LLC, conducts work based on the simple yet profoundprinciple that organizations can chart a course to superior economicperformance by studying the best business practices, operating tactics andwinning strategies of world-class companies. Best Practices, LLC has been aleader in pharmaceutical research and consulting for nearly 15 years; ourclients include 43 out of the top 50 pharmaceutical companies.The study revealed the following findings: -- Centralize early and late-stage commercialization functions to cultivate better integration among people, resources, activities and capital-intensive projects. -- Employ integrated tools, techniques and tactics for portfolio management and decision analysis to develop understanding and win broad-based support for tough decisions. -- Initiate lifecycle management analyses early in the new-product development process to fully evaluate the potential for multiple indications, line extensions and new formulations.

SOURCE Best Practices, LLC
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