Now more than ever, launching new biopharmaceutical products or indications is of paramount importance to ensuring its long-term success in the market. Mindy & Jen are joined by Vynamic’s Product Launch Service Leads, Ashley Stanley and Brian Stamm, to discuss the evolution of the importance of product launch and the implications for Life Sciences organizations and the healthcare industry at large. The catalyzing force shaping the launch space over the past several years is the sheer volume of trials and approvals occurring in both U.S. and global markets, leading to more market competition, especially in specialty and targeted therapy areas (01:15). This increase in volume has shaped the launch market by spurring activity in the ‘co-promote’ space (02:55), igniting talent acquisition battles (03:30) and creating a market for specialty vendors to assist with optimizing key components of launch activities (04:30). Other headwinds spurring change in the launch space include the high cost of bringing new products or indications to market (06:20) and increased pressure and requirements from regulatory (07:10). Given the variety of factors impacting launch activities today, Life Sciences organizations need to start early and operate within a structured yet flexible operating model that takes full pipelines into account (12:09). Leaders will need to be thoughtful about establishing clear team structures and goals to ensure that their necessarily cross-functional teams are moving in lock step as products approach FDA approval (16:46).
Podcast Tags: healthcare, product launch, life sciences, pharmaceuticals, biotech
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Brian Stamm, Executive and Product Launch Service Lead
Ashely Stanley, Executive and Product Launch Service Lead
Mindy McGrath, Healthcare Industry Advisor
Jen Burke, Director and Healthcare Industry Strategist