Deploy sales representatives, clinical nurse educators, field reimbursement specialists virtually or in the field to communicate the benefits of your therapy.
Pharmaceutical manufacturers are facing a range of challenges, from political shifts and rising clinical trial costs, to the Inflation Reduction Act (IRA) and changes in prescriber access. For brands nearing loss of exclusivity (LOE), these obstacles intensify, making it crucial to understand and address them effectively.
If your company is gearing up for a major product launch, established brands can find their resources stretched thin. A new launch grabs executive attention and promotional budgets, while top-performing sales reps seek opportunities with growth brands. As an established brand leader facing LOE challenges, you may feel sidelined, tasked with achieving more with fewer resources.
To navigate resource constraints effectively, now is the time to refine your team structure and adapt your promotional strategy. While launch brands require significant investment in high-cost field resources to drive awareness, established brands can focus on streamlining operations—optimizing teams and adopting cost-efficient promotional tactics, particularly at critical junctures in the brand lifecycle. The key to success lies in leveraging local market data and insights to ensure that every engagement delivers maximum impact.
You’ve worked hard to build a top-notch field team, but with LOE on the horizon, it’s natural to notice your best salespeople beginning to explore new opportunities. This kind of turnover can feel like a double hit—losing talented team members while also risking your brand’s momentum. Share of voice and market presence can start to slip sooner than expected, and it’s tough to push for new hires when your leadership team is bracing for potential layoffs down the road. So, how do you keep your team motivated, protect your brand’s position, and find creative ways to sustain your promotional efforts through this uncertainty? Let’s explore how you can tackle these challenges head-on.
Managing established brands approaching LOE is already challenging, but when your organization shifts focus to a different therapeutic area, the pressure intensifies. Even though your products continue to generate significant revenue, tighter budgets can affect every facet of your operations. Field sales teams shrink, vital support roles such as training and commercial strategy are scaled back, and you’re bracing for even more reductions as market dynamics evolve. You need to reimagine your promotional strategy and reduce costs creatively while still inspiring your team to deliver exceptional results.
Navigating the challenges of established brands might feel overwhelming, but you have the power to make a difference. By taking a few thoughtful steps, you can unlock the full value of your products and ensure they remain a key part of your company’s portfolio. Do you want to explore practical strategies to help you optimize your sales force, cut fixed costs, and adapt to shifting market conditions? Dive into our guide, Established brands: Achieve commercial success with agile, data-driven sales teams. It’s packed with insights to help you build agile, right-sized teams and drive exceptional results, even in uncertain times.
Our guide, 'Established brands: Achieve commercial success with agile, data-driven sales teams,' unlocks success for pharma brands. Learn how IQVIA’s agile CSO and data-driven sales optimize ROI, secure share at LOE, and drive revenue.
Deploy sales representatives, clinical nurse educators, field reimbursement specialists virtually or in the field to communicate the benefits of your therapy.