Does your company truly leverage brand life cycle optimization, delivering outstanding top and bottom line contribution beyond loss of exclusivity, or could a more comprehensive approach be applied?
In conversation with Miles Harrison, former VP and Head of Brand Maximization for a top 5 pharma company, he was strongly of the opinion (and could demonstrate) that the focus on innovation pipelines and commercial activities alone often falls short of maximizing the real potential after LoE for some of the world’s top brands, compared to applying a number of tested playbooks that could support the brand post-LoE namely:
Evaluation of 3rd party quality via testing and quality advocacy at multiple levels.
Raising awareness and educating regulators, physicians, government officials, patient advocacy leaders, and other key decision makers about the risks legally approved ‘substandard copies’ pose to patients.
Ensuring accuracy when communicating these potential risks to health authorities, using real world examples, clinical outcomes and case reports where available.
Engaging pro actively with tender committees, patient advocacy groups, payers and prescriber’s in a timely manner.
Case Study – Legally Approved Sub-Standard Copies in EM’s – delivering an additional $50million sales (+8% revenue)
- Many brands have received registration approval across the world without patent protection, either due to the level of bureaucracy/delays or because the parent company did not file for patent protection in some market
- Often brands reach patent loss without a robust strategy to support the brand after LoE.
- With the increase in the number of tenders worldwide, it is important to ensure quality argumentation is delivered promptly and argued beyond price alone.
- Critically in many markets patients are at risk of receiving low priced legally approved sub-standard copies (lacking bio-equivalence and/or bio-availability) in the absence of intellectual property.
- A key strategy to support patients and companies is to build early co-operation with academia, regulatory authorities and key decision makers to share data on potential outcomes and risks sub-standard copies may pose.
- As a result of working with local teams and engaging all decision makers, an additional $50million sales was achieved through the companies’ Latin American clusters.
If you’d like to have a discussion about building a robust approach to maximizing the life cycle revenue of your registered brands, I’d be happy to introduce you to Miles.
PiR Resourcing leaders in senior life science resourcing. For more news and information, you can follow us on Twitter and LinkedIn For all our latest roles in the Life Science sector please click here.