Prior to COVID-19, we worked with a small European biotech company in need of key commercial and medical affairs leadership and a vision of what commercialization looked like. We mapped out all of the costs associated with commercial & medical affairs imperatives and headcount and worked closely with the Chief Financial Officer to complete a 3-year commercial budget. Due to COVID-19, the company was able to leverage our adaptive commercialization model to first pause all commercial work for six months and later continue commercial support through early 2021 when they onboarded the CCO.
To properly commercialize Phase II/Phase III drugs or therapies, one must be sure to have all the bases covered with an early vision of commercialization including the launch critical success factors. It is important to develop a roadmap with key milestones and deliverables. From pricing to reimbursement rates, there should be no stone left unturned in your precommercial planning and execution.
Using our adaptive model, a company can ensure that they are paying for the commercial deliverables that are most important to their present and future launch success. In addition, it can fill a knowledge gap at the organization. Instead of investing in a full time Chief Commercial Officer, a company can invest in areas important to their product(s) with less risk. Oftentimes, this comes with a cost savings of 50% or greater. We call this service an Interim Chief Commercial Officer, iCCO.
Looking at the activities needed for a comprehensive commercialization plan, one should cover the following:
- Defensible Commercial Assessments & Revenue Forecasting
- Commercial & Medical Affairs Talent Acquisition & Onboarding
- Strategy Across Geographies
- Pricing and Reimbursements
- Competitive Landscape and Market Assessment
- Go-To-Market Strategies
Looking for assistance with your commercial vision & blueprint? We can show you how to get there with less risk.