THE PHARMAGEN BUSINESS MODEL
PharmaGen is one of the leaders in healthcare advisory,
practice management, healthcare communications, pharmaceutical sales rep
management, clinical data advisor and healthcare packaging services.
PharmaGen is an industry-leading company, supplier, and partner
of choice for healthcare companies seeking expert healthcare services.
PharmaGen's business model revolves around continuously improving
our core businesses and identifying and acquiring strong businesses that
complement and add value.
The pharmaceutical and biotech industry has undeniably entered a new
environment for pharmaceutical and healthcare product launches. Not only
are the new innovative products changing, but those inventing and
commercializing the products are transitioning as well. According to a
recent research study, product commercialization trends through 2023 point to:
75%
75 percent of the brands being launched to be “specialty” drugs, up from 58 percent in 2021
50
Over half of these new drugs coming from companies launching their first brand
53%
53 percent of the new drugs being classified as “moderate or no differentiation”
1
Only one out of 10 members of the typical launch team having ever launched a product
Certainly, moving past the patent cliff and
entering the world of pharmaceutical medicines and specialty biologics
has created more pressure on the industry to produce under an even
higher level of scrutiny. Small and emerging biopharmaceutical companies
are particularly challenged to succeed within this environment. These
companies are working with limited resources and looking to optimize
investor cash in every way possible. And although staff from these
organizations may have very competently shepherded the company through
research and development, many do not have the requisite skill set to
fully commercialize the brand.
Faced with this reality, and with so many invested resources at
stake, what does an emerging specialty pharmaceutical company do when
its product is ready for commercialization? How does the company ensure
the best chances for brand acceptance… whether it is introducing a
highly differentiated specialty medicine or fighting for market share
with a “me too” brand?
For many years, emerging specialty pharma companies have sought
partnerships with large pharmaceutical companies to bring their brand to
market. Large pharmaceutical companies, looking for drugs to quickly
and cost effectively enter their pipelines, are happy to partner. Deals
abound, from licensing product to selling commercialization rights
outright. For some, these partnerships are the answer but for others,
despite assurances to the contrary, their larger partner’s sales team
does not meet performance expectations.
Working with a Pharmaceutical CSO also allows emerging
pharmaceutical companies to build flexibility into their sales model
from the outset, an attribute its larger pharmaceutical counterpart is
finding critical to delivering a positive return on investment (ROI).
With an experienced CSO partner, emerging companies can easily build an
agile, scalable, responsive team to meet customer needs, making sure to
address critical market segments with the right type of sales
representatives and scaling up and down as the market dictates with no
impact on its own operation.