Optimizing your Drug Distribution Model
The primary objective of a drug distribution model is to ensure patients receive the medications they need when they need them. A manufacturer’s strategy for getting their product from manufacturer to patient – effectively and efficiently – is crucial to the success of a therapy. The complexity of the distribution process has been exacerbated as a result of the pandemic. In addition to considering the range of physical, financial, and logistical challenges, life science companies would be wise to evaluate the needs and preferences of key stakeholders. Commercial teams can take the following steps to optimize their distribution process across a brand’s life cycle.
Determining the Optimal Channel Strategy for Your Pharma Brand
In this on-demand webinar, Patrick Leary, Phil’s Chief Commercial Officer, discusses challenges pharmaceutical brands are facing and how a well-thought-out channel strategy is essential to these key success factors:
Technology Trends Shaping the Future of the Pharmaceutical Commercialization
Due to its highly regulated, high-risk environment, the pharmaceutical industry has traditionally been slow to adopt new technologies. A conservative approach to technology implementation means that pharma companies may be missing out on the advantages digital technologies offer and have lagged behind other industries in creating rich customer experiences; however, the Covid-19 pandemic significantly accelerated digital transformation throughout the industry.
Migraine - Post Approval Insights
Migraine is a neurological disorder that affects approximately 1 in 6 Americans and leads to over 1 million emergency department visits in the US annually. Just like many neurological conditions, the treatment landscape of triptans, opioids and NSAIDs has fallen short of providing a sustainable solution for migraine patients with drugs that have subpar efficacy and intolerable side-effects. The condition has been difficult to study and characterize due to varying levels of severity, causes and symptoms and traditional therapies have not specifically addressed the disease pathology of migraines. However, due to the high disease burden impacting schools, workplaces, social settings and healthcare systems, pharmaceutical companies have prioritized the development of migraine therapies with a new class of drugs called calcitonin gene-related peptide (CGRP) antagonists. These CGRP antagonists were designed to target a substance that is elevated in the blood during migraine episodes and they can be administered to prevent migraine attacks.
3 Patient Engagement Technology Myths
A recent survey by Boston Consulting Group, exploring what patients want from pharma companies and how well companies are meeting those needs, revealed a deficiency in patient engagement. The growing demand for improved and more efficient communication between patients and healthcare entities has created an opportunity for pharmaceutical manufacturers to promote patient engagement through digital tools. However, three common myths may be holding them back.
6 Healthcare Trends Impacting Pharma Commercialization
What commercialization strategies should life sciences companies focus on as they look ahead? It’s crucial to monitor trends closely to navigate the evolving healthcare landscape better and build winning strategies. Here are the top six healthcare trends affecting pharma commercialization today:
Is Your Life Science Company Taking Full Advantage of Digital Technology?
The pharmaceutical industry generates immense volumes of data, so it would make sense that pharma companies are ahead of the curve by leveraging the latest technologies to transform their operations across the value chain. However, historically, the pharmaceutical sector has been slow to embrace digital technologies.
Meet Catherine Hill, VP, Marketing Phil
Catherine Hill is the Vice President of Marketing at Phil. She joined the company at a pivotal time of growth. In this article Catherine shares what attracted her to Phil as a healthcare outsider and how her personal connection to healthcare drew her to the mission to get patients on life saving therapies.
Is Your Pharma Product at Risk for a Mid-Life Cycle Crisis?
Commercial launch is an expensive and risky endeavor, especially for small life science companies. According to a recent report, about half of all the drugs launched in the last fifteen years underperformed market expectations by more than 20%. In fact, over half failed to reach $250 million in peak U.S. sales.
Prior Authorization Hurdles Don’t Discriminate By Disease
The rising cost of healthcare in the US and subsequent burdens on payors has led to an overreliance on prior authorizations (PA) to lower costs. Many medicines promising to improve health outcomes, regardless of disease or therapeutic area, come at a price that insurers are reluctant to pay. The PA process can leave patients waiting for days or weeks on a coverage decision for their medication, and coverage can be denied despite being appropriately prescribed. Physicians and patients struggle to navigate the appeals process which leaves patients more inclined to abandon therapy, while drug manufacturers lose out on potential revenues. Drug manufacturers lack visibility into the prevalence of prior authorization hurdles nor have the opportunity to prevent this roadblock to patient care.