Failure to Launch? Why Market Access May be Key to Successful Rx Launches | Deloitte US has been saved
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By Brian Corvino, managing director, Deloitte Consulting, LLP
Developing a new drug and bringing it to market can cost more than $2 billion, according to our report, Measuring the return from pharmaceutical innovation. Despite the enormous expense, there is no guarantee that a new product will succeed once it reaches the market. To help ensure market access, pharmaceutical manufacturers should be able to demonstrate the clinical and economic value of a new product. They also should negotiate prices and fulfillment requirements with health plans and government payers.
Our latest report, Rethinking market access, explores the impact market access has in the success (or failure) of new product launches. I recently moderated a webinar where we discussed the report and market-access strategies drug manufacturers should consider. Sandeep Duttagupta, Ph.D., vice president of Global Pricing and Market Access at Cambridge, Mass.-based Alnylam Pharmaceuticals, says his company tries to partner with payers early in the clinical-development plan. He told attendees that payers are starting to show more interest in the drug-development process, especially when it involves innovative technologies.
Lovena Chaput, senior vice president, Americas & Asia Pacific Commercial, at Astellas Gene Therapies, agreed with that strategy. Depending on the size of the payer, and the type of product being developed, relationship-building should begin anywhere from 12 months to 36 months before the launch, she said. It is also important to identify the most appropriate people within the payer organization. It is important to keep in mind that the most appropriate person isn’t necessarily the pharmacy director or the Pharmacy and Therapeutics committee, she said. “If you're going to have a medical benefit product, you probably need to be meeting with people from the medical side,” she said. “They're a bit more difficult to get to, but that's where those relationships play a key part.”
Four strategies to help improve market access
Here are four strategies the panel suggested to help improve market access:
Of the drugs launched between 2012 and 2017, 36% of them fell short of their launch forecast. Market access challenges caused or contributed to about half of those failed launches, according to our research. About 70% of products that fail to meet early expectations continue doing so in subsequent years. By contrast, about 80% products that meet or beat expectations at launch continue to do so afterward. Rethinking market access could help pharmaceutical manufacturers deliver on the promise of therapeutic innovation.
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