How life sciences firms can prepare now to succeed in future drug launches

The biopharama industry is going through a transition period. The traditional commercial launch model is no longer sustainable, and the pandemic made it redundant. As companies continue to move toward a new model, they must answer a key question: what can be done now during this transition period that will set new launches up for success in the future biopharma commercial landscape?

An analysis of the performance of drugs approved and launched in 2020 highlights several lessons that will have implications for the future launches.

We analyzed drugs that were approved and launched in 2020 and selected a group of 28 drugs, for which actual sales data, as well as pre-launch forecast data, were available.

• Despite the pandemic, 54% (15 out of 28) of this group met or exceeded their forecasted sales estimates.
• Eighty-seven percent (13 out of 15) of drugs in this group were designated orphan, but 13% (2 out of 15) were non‑orphan drugs that were launched in competitive categories.

This analysis of performance, as well as strategy, suggest that successful launches were often associated with certain key success factors:

• Successful execution of a comprehensive prelaunch market development strategy.
• Heightened focus on customer engagement and customer experience.
• Differentiated and novel ways of leveraging digital technologies and analytics.
• Early discussions with payers to demonstrate the potential value of the treatment, supported by relevant cost‑benefit and cost‑effectiveness analysis.

While some biopharma companies are adjusting well to this transition period, not all are at the same level. The impact of COVID-19 on the broader health care ecosystem, as well as on consumers, has clearly accelerated this transition. Innovators have shown us what the future of biopharma commercial activities will look like. And that future landscape is no longer years away. It is imperative for biopharmas to rethink and re-evaluate their commercial strategies, invest in the right capabilities and align themselves accordingly to the needs of customers. The capabilities built and strengthened during this transition period will continue to play a significant role as companies bring new products to market. Here are a few recommendations for biopharmas as they navigate this transition period: