The Successful Launch and Diffusion of New Therapies

Abstract

The successful launch and diffusion of new drugs is an essential factor for the survival of many pharmaceutical firms. To ensure the success of a new drug, sophisticated managers in this industry require decision-support tools. This review presents an overview of such strategic and analytical tools, based on significant contributions by marketing scientists. The review is organized according to the components of a launch and diffusion decision chain which represents the sequence of decisions that must be made when launching a new drug. This includes methods for gauging the commercial potential of a new treatment over time, pricing and promotion strategies to maximize value, and leveraging potential across different countries. This review provides an overview of current methods and possible directions for future advances in the field. The successful launch and diffusion of new therapies are key factors in the success of pharmaceutical firms. To ensure the success of a new drug, sophisticated managers in this industry require decision-support tools. This review provides an overview of such strategic and analytical tools, based on significant contributions by marketing scientists. This includes methods for gauging the commercial potential of a new treatment over time, pricing and promotion strategies to maximize value, and leveraging potential across different countries. This review is organized according to the components of a launch and diffusion decision chain, which covers the essential decisions to be made when launching a new drug.