COMMERCIAL ASSESSMENTS: TIPS AND STRATEGIES
- Provide background and guidance on conducting commercial assessments, where turnaround time is short and funding is usually scarce, including:
- Differences in undertaking commercial assessments versus conventional research for in-line products
- Understanding role of benchmarking (modeling past performance) versus forecasting future products
- Secondary data sources
- When, where, and how primary research may differ when supporting new products and/or new opportunities
- Market Research
- Business Development
- New Products
- Forecasting
- Commercial assessments supporting research and development initiatives may involve:
- Support for protocol development
- Rationale for go/revise/no go decisions
- Commercial assessments supporting licensing candidates may involve:
- Unique issues related to confidentiality that may impact
- Short turnaround times
- Confirmation of data provided by the potential licensor
- Some commercial assessments, regardless whether they are in-house or licensing opportunities, may involve unique issues:
- Sizing markets where no audit data or possibly no ICD-9 codes exist
- Products that replace procedures, devices, or replace no treatment (time or removing the stimulus may heal the condition)
- Evaluating new drugs or new delivery systems/formulations/target audiences in established classes, perhaps where the base compound is no longer patent-protected
- Evaluating first-in-class medications
Data Sources/Research for Commercial Assessments |
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- Secondary data sources
- Previous primary research
- Areas to explore in new primary market research
- Developing and testing a product profile
- Do's and don'ts when testing product profiles
- Expectations when testing product profiles with primary care physicians vs specialists vs thought leaders
- Common pitfalls in developing a patient-based forecast
- Relevant pharmaceutical examples will be used to illustrate the concepts.
- Each participant will receive a 2-sided laminated card with key learnings from the course
Jane Richards, a senior consultant with Advantage Healthcare, has over 30 years of experience in the pharmaceutical industry. During her 14 years with Advantage Healthcare, Jane has been the team leader on dozens of commercial assessments. Jane’s most recent corporate position was Vice President, Business Development for a major pharmaceutical company. Her prior corporate-side positions included Director of Market Research, Business Unit Director, and roles of increasing responsibilities in global marketing and operations.
For More Information, Contact: |
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Leslie Goldberg, Executive Vice President
666 Godwin Avenue, Suite 320
Midland Park, NJ 07432
p: 201-670-7722 ext. 205
f: 201-670-8707
lgoldberg@advantageh.com
