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Our client, a pharmaceutical company, wanted to expand their operations to the United States. However, the client noted that market entry to the US pharma industry was highly challenging due to the need to accommodate rising costs and the proliferation of competing drugs in the same therapeutic areas. In addition, the growth of the generic segment and the advent of biosimilar drugs in the United States were increasing challenges for the company.
Other key objectives of the client were:
Objective 1: Gather insights for the R&D team
Objective 2: Gather insights for HEOR (Health Economics and Outcomes Research) and marketing team
Objective 3: Set a sound pricing strategy
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As a part of the pharmaceutical market access strategy, the experts at Infiniti Research conducted a product research engagement. In this phase of the pharmaceutical market access engagement, the experts helped the client to analyze the complete product development lifecycle, trade-offs, and gather insights on product-specific revenues to boost the value proposition.
The next phase of the pharmaceutical market access approach involved a marketing strategy engagement. In this phase of the pharmaceutical market access approach, the experts conducted qualitative and quantitative market research to help the client gather comprehensive insights into the market landscape and competitive landscape. Also, this phase of the pharmaceutical market access strategy helped the client to identify the best marketing channels to focus on to reach their end-users. Also, the experts helped the client to devise sound commercialization strategies to achieve huge success for their products in the US pharma market.
Business impact of the pharmaceutical market access solution for the pharma market client:
By partnering with Infiniti Research, the client was able to meet their revenue goal and enhance market share by 33%.
By leveraging Infiniti’s pharmaceutical market access solution, the pharmaceutical market client was also able to:
- Develop a new drug meeting the market demand and payer’s requirement
- Clear the clinical trials in the initial attempt
- Devise a sound commercialization strategy for their new drug
- Set the right price for the product
For an in-depth market analysis on how COVID-19 will impact the pharmaceutical market and data-driven insights to plan your next moves, request more info here.
About Infiniti Research
Established in 2003, Infiniti Research, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us