David and Goliath: How Can First-Time Launchers Avoid Failure and Beat Big Pharma Launches with Rohit Sood, Executive Vice President at EVERSANA
October 12, 2022
A first-time pharma launch sounds exciting......but it's demanding. Not everybody can handle it. Want to learn how to succeed?
In this episode of Pharma Launch Secrets, Bozidar is joined by Rohit Sood, Executive Vice President at EVERSANA
- Why has the number of 1st-time launchers increased threefold over the last 10 years?
- Why do 60%+ of 1st-time launches fail, and how do they compare to big pharma launches?
- What can 1st-time launchers learn from Mike Tyson about strategy and adapting to the circumstances?
To answer these questions, Bozidar is joined by Rohit Sood
, Executive Vice President at EVERSANA
- [ 01:48 ] - When it comes to pharma launches, engagement with stakeholders has changed in the last few years. Companies switched to Zoom calls and other platforms to interact with physicians and doctors. Internal engagement, planning, and strategy development followed a similar process. As a result, new tools came into play that allowed us to collaborate online more. Companies also use an omnichannel strategy to engage stakeholders proactively based on events happening in the marketplace
- [ 09:29 ] - Sixty to seventy percent of first-time pharma launchers miss their forecast. However, as big pharma companies grow and struggle with innovation, more entrepreneurs and scientists take on the risk of raising capital, starting a company, and developing their own assets. And the market allows them to raise that capital relatively easily
- [ 16:49 ] - The first thing is education. You have to make the company's board and the CEO aware of what it takes to commercialize. Most of them are either financial experts or scientists. So there has to be that mindset shift from scientists to commercial. Also, many launches fail due to a lack of investment. You should spend enough on commercialization and infrastructure and have a long-term view of execution
- [ 25:23 ] - If you are a first-time launcher, understand that cultural fit is critical. Be agile and bring people together quickly. Secondly, a launch is not the right moment to make dozens of mistakes and learn from them. You need to bring on a team of experienced people who have done it before and minimize that risk. Furthermore, be mature and open-minded in your execution
If you want to learn more about leading a successful pharma marketing campaign in the US, tune in to this episode of Pharma Launch Secrets, a Podcast by Evermed.
And connect with Rohit here:
About The Show:
“Pharma Launch Secrets” is a podcast by Evermed and hosted by Bozidar Jovicevic, where we host direct, actionable conversations with world-leading pharma launch experts and help you stay up-to-date with the latest trends and strategies to help you launch your product successfully.
Previous guests include: Trevor Landry of Syneos Health, Indraneel Mukherjee of ZS Associates, Meg Heim of Heim Global Consulting, Scott Snyder of EVERSANA, Andrew Willmer of Symbiotix, Bharti Rai of CVS, Brendan Gallagher of Publicis Health and Matthew Goodman of LUCENT Biopharma.
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