Successfully navigating the path to pharma commercialization

Emerging biotech companies are becoming increasingly prominent in the global pharma market. With the ability to be flexible and react quickly to new developments in therapeutics, they can be frequently found at the forefront of scientific discoveries. However, a challenge arises where new biotech companies may find internal skills and knowledge gaps within their expertise that hinders their ability to reach commercial success.

In this blog post, Christopher Starr, Vice President Commercial Solutions at Inizio Engage, and Dean McAlister, Executive Vice President at Inizio Biotech, explore the difficulties emerging biotech companies face while navigating the path to commercialization. They discuss how partnering with an experienced engagement partner can offer support when seeking commercialization opportunities, to bring products to patients at speed.

The complexities of achieving commercialization

With the shift of focus in the market to speciality therapies and rare disease medicines, biotechs are seeing a number of challenges. Healthcare professionals (HCPs) have higher adoption criterias due to lower awareness and the therapies themselves having more complicated mechanisms of action. As these therapies are often targeting smaller patient groups for rare diseases, patient cohorts can be widespread geographically, making patient engagement more difficult.

Strategies to consider for commercialization

To achieve commercial success, biotech companies can consider numerous strategies.

Plan for commercialization in advance

Many emerging biotechs leave it too late before considering commercialization. To achieve commercial success, a product must address a specific gap in the market. This gap is identified during the commercialization process, and is therefore essential to consider early on in development. Some points to consider while planning include:

• Developing a commercialization strategy 2 years before the planned submission date.
• Building the strategy around an ideal treatment experience.
• Understanding the patient treatment journey, including the role of a healthcare provider in administering treatment.
• Consider an individual approach

When delivering information about a therapy to a HCP, it can be tempting to consider a blanket approach of delivery. However, an individualized approach for each therapy can be beneficial. This should be specific to each patient population and their specific needs. Unfortunately, this can require a large team of specialists covering marketing, data analysis, and sales, so is a difficult undertaking that may require specialist support.

Consider taking an omnichannel communication approach

The ability to communicate with stakeholders seamlessly is essential for commercial success, and implementing an omnichannel strategy can ensure that content is personalized. An omnichannel communication approach can integrate digital and human interactions, ensuring that the customer and HCP experience is unified.

Partnerships for strategic support

Creating and managing the content required to achieve commercialization can be difficult for an inexperienced emerging biotech. A solution is to engage with a trusted external partner with the expertise and infrastructure already in place to achieve the required results at scale.

Selecting a partner with engagement expertise

To achieve commercial success, biotechs should consider working with an experienced engagement partner. An experienced partner can offer optimized engagement activities and be able to adapt to changing HCP preferences and market demands as necessary. A successful partnership should be able to help the emerging biotech company create an engagement strategy to support the path to commercial success.

Discover how Inizio Biotech can help you drive your asset to commercial success by speaking with one of our experts today.

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