According to a recent McKinsey & Company Report: two-thirds of new biotech launches fail to meet initial sales expectations At eMIA, we recognize this as a critical issue with far-reaching consequences. These failures represent not just missed revenue opportunities, but a potential chokehold on scientific progress and patient access to life-changing therapies.
The roots of these launch failures are multifaceted. As the McKinsey report highlights, companies can become overly focused on the scientific merits of a new drug, neglecting the intricate interplay between market dynamics, payer considerations, and physician adoption rates). This myopic view overlooks crucial elements that determine a drug's ultimate impact.
This is where a comprehensive launch strategy becomes a critical differentiator. We at eMIA believe in a holistic approach that transcends the molecule itself. We delve deeper, analyzing the competitive landscape, understanding the evolving needs of physicians and healthcare systems, and anticipating payer hurdles. By proactively addressing these factors, we empower companies to develop a launch strategy that anticipates challenges, maximizes market uptake, and ultimately, delivers on the promise of the new therapy.
The consequences of a flawed launch extend far beyond a company's bottom line. Delays in patient access to potentially life-saving treatments represent a significant human cost. Furthermore, failed launches can discourage investment in critical research areas, hindering the development of the next generation of breakthroughs. This creates a ripple effect, potentially slowing the pace of scientific progress and ultimately impacting patient well-being.
We believe that every launch represents an opportunity to make a real difference in the lives of patients. By bridging the gap between scientific innovation and market realities, we equip biotech leaders with the insights and strategies needed to navigate the launch process effectively. This ensures successful market entry for new therapies, translating scientific breakthroughs into tangible patient benefits and keeping the engine of scientific discovery running strong. The stakes are simply too high to leave a successful launch to chance.
Best,
eMIA
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