Recommendations help product achieve market desirability

Background

The New Product Planning department at a leading biotechnology company sought commercial insight to help support development of an early-stage product. We conducted a product evaluation for them, made recommendations and then conducted a follow-up evaluation 14 months later.

Analysis

For each of the evaluations, we spoke with thought leaders and clinicians to understand current treatment patterns and key unmet needs, as well as specific insight into the product in development.

Based on our initial analysis, we concluded that the product had minimal commercial potential. Clinicians indicated that 15% of their patients were clinically appropriate, and they would actually use the product in just 10% of these

Solution

Given market perceptions, we made 11 specific recommendations regarding product and clinical development. The company spent the intervening 14 months redoing their clinical and product development plan, changing their formulation and developing new data for their product. They then presented us with a new product concept.

Result

These changes in the product profile translated into clinicians perceiving the product to have fundamentally different benefits. Two core measures of the product profile improved dramatically, with patients deemed clinically appropriate for the product increasing to 78%, and utilization intent in these patients increasing to 45%. This took the product from one without further merit to a clearly attractive development candidate.