Keep what works in getting products to market, but be ready to reinvent the model.
There are extensive opportunities for biopharma companies to differentiate themselves through effective commercial models. The most successful organizations will retain and improve the best aspects of their current go-to-market strategies while adapting to new challenges and opportunities.
With the sector’s business model under tremendous pressure, commercial excellence today requires optimizing existing brands and ensuring the most effective launch strategies for new ones. Field sales forces, still biopharma companies’ biggest investment on the commercial side, must also find ways to do more with less, and every available communication channel—especially digital—will need to be tapped to engage stakeholders in the most effective way.
Further, the move to value-based health care sharpens the focus on outcomes and efficiency, and rewards those biopharmas that excel at gaining market access through smart pricing strategies. Companies will also be required to look at “beyond the pill” solutions for complementary business model innovations.
Successful competitors will recognize and employ the "twin-track" aspects of commercial excellence for today and position for the fast-emerging value-based environment of tomorrow when biopharma will primarily be rewarded for outcomes that deliver the most value to patients.