Ashfield recently published an article in PharmaField discussing the changing pharma market, and explaining how to focus on specialised portfolios, whilst still protecting other revenue generating brands.
The landscape of pharma is clearly changing rapidly – the emergence of the self-managed patient, digital technology and different pressures on our healthcare systems are making an impact. The most successful navigators of the new terrain will be those that release innovative and life-changing therapies into an medicine ecosystem that they fully understand, while also preserving the value of established treatments.
It’s not just about what is happening now, it’s about having your finger on the pulse of ‘future pharma’, what it looks like and how to succeed through both cutting-edge science and evolving commercial models. The rise of specialty medicines is a worldwide trend, with their share of global medicine spend rising by 10% in the last decade, and set to increase by another 5% over the next five years.*
By 2021, speciality drugs will be approaching half of total medicine spend in the UK. Whilst the highest growth will come from specialty products, established and primary care brands will still generate a large part of pharma revenue.With sales and marketing budgets decreasing and what remains increasingly shifting towards specialty, the question arises…
How do you focus on specialised portfolios, whilst using available budget to protect and maximise other revenue generating brands?
A syndicated detail slot offers a compelling way to conduct detailed promotional sales calls for newly launched products, campaign realignment for growing products and
simple brand messages for mature products.
There is a tactical approach to suit every brand across its lifecycle:
- Newly launched
- Long-listed/loss of exclusivity (LOE)
What is syndicated?
- A fully outsourced sales team representing non-competing products from different companies
- Three brands are promoted per call, each with a different weight in total detailing time
- A cost effective way to deliver high quality sales calls and increase share of voice
- A flexible approach to align with your specific goals & maximise the potential of your portfolio
There is no one-size-fits-all model. Ashfield consults on your specific goals and context to recommend the best approach:
Reinforce: A syndicated sales force can work alongside your own in the same territories. This is ideal in a really competitive market where you want to increase frequency and quickly gain a greater share of voice.
Expand: If your coverage requirement is too large for in-house teams and you would like to target a larger percentage of the market potential, use a syndicated team to access additional customer segments.
Refocus: You allow a syndicated team to promote an older brand, taking sole responsibility for sales activities, this provides you with the opportunity to refocus internal efforts behind a new growth product. This cost-effectively protects the revenue of the existing brand.
Clients trust the Ashfield syndicated model and their 20 years of experience. With the largest number of syndicated sales teams in the industry, clients benefit from flexibility, choice of team size and security. Ashfield ensures a fully compliant service and high quality sales calls, with performance measured by structured detail follow up (DFU) reports and intelligent analytics. Ashfield
can help you achieve your goals:
- Increase competitive share of voice at a lower cost than a dedicated sales force
- Grow and protect product sales from erosion and competition
- Align promotional activity to the product’s maturity and needs
- Increase flexibility by adjusting promotion efforts to product seasonality
- Enable existing sales force to focus on core products and/or key targets
If you have any questions or would like to find out more about Ashfield’s syndicated sales teams, please get in touch. In the UK, please contact Karen Bell on +44 7823 535956 or email firstname.lastname@example.org. For other enquiries, please call 01530 562300 or contact us online.
*SOURCE: Outlook for Global Medicines through 2021, QuintilesIMS