Finally, the FDA has approved of the drug. Now, the pharmaceutical company can actually start thinking about what they’re going to do in order to get the drug out of the research facilities and into the hands of patients and consumers in need of their cure. So, how do we get physicians to prescribe these new products so that the companies can get the sales they need?
This is a more difficult process than people might think; over the last decade, around half of the drugs that were launched did not meet sales expectations, leading to a shortage of revenue and meaning that the company cannot make up for the costs and resources that were spent while developing the drug.
However, these statistics do not mean that companies should expect failure more times than not. In order to not only successfully launch a drug, but for the drug to bring in expected sales, there are some key strategies that pharmaceutical companies should consider. At this point, the drug itself is effective through tons of research and trial, and has been FDA-approved. With the right strategies, the new product is sure to be a success.
When trying to succeed in anything, the first essential step is to plan an effective strategy way ahead of time. If a company tries to plan a sales approach only once the drug is ready to hit shelves, it may take too long, allowing other pharmaceutical groups to catch up on researching and developing a different drug that has the same purpose. In addition, a lot of time can be saved when creating your strategy ahead of time, perhaps while the drug is going through trials or FDA approval so that it can be launched as soon as it’s ready. In order to do this, it’s also important to do advanced thorough market research; knowing the expectations of your target audience, from physicians who may prescribe your drug to patients who might take them, can help companies think of the most effective launch strategies.
It’s important for pharmaceutical companies to be patient-centric when developing their drug launch. Think about how the patient’s thought process works, and what external information they need to know in order for them to understand what the medicine can do for them. This means that as part of the launch, the company should create awareness about the disease itself and explain the needs of a patient who carries the disease; only then can they create a conversation about the medicine itself.
During the launch phase, pharmaceuticals companies need to focus on what is most important: building awareness, not only for the drug product but for the brand and the disease as well. In order to do so, the right people must be targeted, especially if the disease is more specific and niche. This is where Healthlink Dimensions comes in to ensure that the launch of a new drug is as successful as possible. First off, HealthLink Connect has a detailed database of specialized physicians to aid with provider perspective; pharmaceutical companies can use to know who to target and reach out to when launching their new drug. With the help and resources that HealthLink Dimensions offers, physicians who specialize in specific diseases can learn about the new drug right upon launch. In addition, pharmaceutical companies can expand awareness of their product with programmatic ads (such as display ads) that target specific physicians, all with the data that HealthLink Dimensions has to offer. HealthLink can also aid in delivering emails to providers on the company’s behalf, so that the company can focus their energy on what’s important: selling the new medical solution.
Another resource that can help with the successful launch of a new drug is MobileZen, which is HealthLink Dimensions’ powerful SMS and mobile platform. MobileZen can be used by representatives in the pharmaceutical field to educate providers regarding the drug and provide key resources for potential patients. Best of all, this can all be done right from the comfort of their own devices, and the providers and patients don’t have to necessarily meet with the drugmakers in person.