Pharmaceutical Market Europe • October 2024 • 27
THOUGHT LEADER
By Sheila Reddy
You’ve come so far – painstaking R&D, promising phase 2 results and endless hours in the lab. But here’s the harsh truth – the hardest hurdle is still to come. Most products fall when it matters most – getting to patients.
Recently, lecanemab for early-stage Alzheimer’s was approved by the UK’s drug regulator, MHRA, making the UK the first in Europe to license a drug that treats the disease itself, not just the symptoms. However, NICE, the health technology body, blocked its use in the NHS. It judged the benefits didn’t justify the costs, which include both the drug and the need for side effect monitoring.
Now, only a few UK patients will get lecanemab – if they can afford to pay privately. This shows how tough it is for new treatments, even when no other options exist.
Keep reading to discover how you can:
You’ve put everything into your product – don’t let it fail now. Whether you’re just starting or deep into commercialisation, these strategies can help. Take control and give your product the best chance to succeed.
Getting a biopharma product to market is like running a marathon on a tightrope. You’re balancing market access, regulatory hurdles and payer demands – all while trying to stand out. The stakes are high. Every decision now affects your success.
You’ve mastered the science – now it’s time for the human challenge. Build the right team and make sure everyone is aligned.
Everything looks great on paper – but the launch doesn’t deliver. Perhaps HTA bodies give a lukewarm response, formulary placement is a struggle or adoption is slow. Your product is groundbreaking and you know it can change lives. But do payers and prescribers see that too? Launches often fall short because others don’t recognise your product’s value. How well can you communicate its true value?
‘Success is about strategy. When you launch a new product, you’re launching hope. But for hope to make a difference, it needs the right positioning.’
If you want your product to thrive, focus on the areas that matter most:
1. Positive HTA performance – craft a compelling value story
Positive HTA outcomes are crucial, but they’re getting harder to achieve as scrutiny grows. Great science needs great storytelling. Your value proposition should be as clear and convincing as your clinical data. Demonstrate the unique value and benefits your product brings.
‘You’re not just selling a product – you’re making a case for why your treatment deserves to be a cornerstone of care.’
2. Favourable formulary fit – position for success
Success hinges on how well you address the concerns of formulary committee members. Align your value proposition with their priorities.
‘Formulary placement isn’t just about getting on the list – it’s about being the top choice in the right spot. That’s what drives success.’
3. Accelerate adoption – build momentum
Fast adoption can make or break your product. To succeed, build strong relationships with prescribers. Show how smoothly your product fits into patient pathways and adds value. Let early adopters spread the word and influence others.
‘Launch isn’t just a moment – it’s a movement. Adoption is about keeping your presence strong and proving value over time.’
Here are some actionable steps:
With the right strategy, you can make a strong start, gain payer support and transform patient care.
Don’t leave your product’s future to chance. Act now to shape your success – make your innovation a breakthrough that truly changes lives.
Need help getting your therapy to patients faster? Let’s connect.
Email me at Sheila@innovate.works. Innovate Works specialises in Market Access and Launch to help you:
Sheila Reddy is Director, Market Access and Launch Specialist, at Innovate Works