Background and Challenge
Following positive clinical results, a global biopharmaceutical company engaged L.E.K. Consulting to help it develop a product launch strategy for a next generation biopharmaceutical drug. At the time, analysts were characterizing the launch as critical to the client’s future.
Approach and Recommendations
We quickly mobilized a global launch planning team with cross-functional expertise in commercial launch strategy, reimbursement and pricing strategy, sales force sizing and optimization, and global marketing to:
- Evaluate the target market for the product
- Develop a pricing and reimbursement strategy
- Build a targeted sales force and global marketing plan
- Launch the product
The product was successfully launched and became a blockbuster product. Wall Street applauded the success of the launch and its early adoption and strong positioning. For over 10 years, we have worked closely with this client to strengthen its core product franchise, develop its R&D pipeline, and optimize the commercial potential of additional product franchises. Growing to become a multibillion dollar market leader, this client’s market capitalization has increased 58 fold during the course of its relationship with us.