Our client, a global pharmaceutical company, planned to launch a new product about six months ahead of a direct competitor in an indication with no effective treatment options. As physicians had many options for acute treatment for this chronic disease, the client engaged Prescient to define the market and help change the current practice.
Shaping Decisions | Driving Value
To supplement pre-launch insights, Prescient collected competitive intelligence, reviewed secondary intelligence and interviewed investigators and competitor personnel to confirm the key development milestones. We also conducted payer research to understand how payers were planning to incorporate competitive products in formulary plans and moderated a payer advisory board to fine-tune the client’s product’s value proposition and market access strategy.
In preparation for launch, Prescient planned and moderated a competitive workshop with the client team to refine the messaging strategies for specific stakeholders and used the output to improve the client’s sales force training program. Through the workshop, Prescient helped drive the conversation regarding defining the market and empowered the client team to go on the offensive in defining “its market” and building a medical education strategy that opportunistically targeted the physician segments that were most likely to adopt the new technology.
Following launch, we conducted interviews with physicians to understand the patient selection criteria, ease of use, patient satisfaction, and the pros and cons of both the client’s and competitors’ products.
The Prescient Advantage
Prior to working with Prescient, the client team was locked in a defensive mode and preoccupied with defending against its in-class competitor. Ultimately, the engagement with Prescient helped empower the team to take control of the market and define the patient populations best suited for this new technology. The client decided to target a specific portion of the market and has been the go-to option for those customers.
We continue to support the team’s efforts to maintain growth, but the client organization now has a strong foothold in the market, investor support, and the confidence to take on any competitive threats.