Generating growth through patient-centered commercial strategies

Abstract

There is no dearth of consensus that the global pharmaceutical industry is in the midst of significant change. The search for new drivers of revenue is a strategic imperative. While firms strive to gain efficiencies in how products are discovered, developed and marketed, opportunities exist in redefining the underpinnings of commercial strategies. Of considerable value is the notion of crafting marketing strategy with the patient at the hub. This article discusses elements of a patient-centered commercial strategy, which hold considerable potential in generating revenue growth for a branded drug. The elements are characterized by a strong emphasis on developing practical marketing strategy and ensuing tactics that serve patient needs directly addressable with a commercial brand. Each element is discussed with real-world examples and supported by insights based on original research conducted by the author. Expending intellect, strategic planning and excellence in execution on these elements of commercial strategy will not only shift the locus of a modern bio/pharmaceutical firm toward patients – the customer entity responsible for its existence – it will also serve to replenish flat revenues yearning for more pipeline productivity in the midst of the patent cliff.