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"Resourcing is a critical predictor of product success," noted one launchmanager in the study. For drugs with blockbuster potential, pharma companiesspend between $100 million and $500 million on a broad range of globalmarketing activities, according to the study. One marketing executive whoparticipated in the research said his company spends 20 percent of a product'stotal marketing budget between four years pre-launch and the launch year.
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"Launching a new pharma product on the cheap is a recipe for failure,"said Chris Bogan, chief executive at Best Practices, LLC. "Proper resourcing,thoughtful planning and careful timing are the Holy Trinity of successfulproduct launches."
The report, "Best Practices in Global Pharmaceutical Launches," isavailable online with a complimentary excerpt athttp://www3.best-in-class.com/rr881.htm
For the study, analysts harvested survey data and qualitative bestpractices from informed executives at best-in-class pharmaceutical companies,including Merck, Pfizer, Eli Lilly, Johnson & Johnson, GlaxoSmithKline andNovartis. The report includes more than 180 metrics, 100 best practices and20 company narratives on critical pre- and post-launch topics, including:
For more information, sample practices and graphics from this report,download a complimentary excerpt at http://www3.best-in-class.com/rr881.htm
To learn more about Best Practices' other research, visit:http://www3.best-in-class.com or contact Cameron Tew, research and publishingmanager, at 919-767-9246 or [email protected].
ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a research and consulting firm that conducts workbased on the principle that organizations can chart a course to superioreconomic performance by studying the best business practices, operatingtactics and winning strategies of world-class companies. For more information,call (919) 403-0251 or visit www.best-in-class.com.-- Marketing Launch Strategy and Structure -- Marketing Investment and Staffing -- Cross-Functional Launch Team Composition and Management -- Thought Leader Development -- Sales Force Support and Compensation Management -- Market Research -- Marketing Activities -- Life Cycle Management
SOURCE Best Practices, LLC
