Focus Launch Track brings together a number of key indicators of performance of a product in its defined market. A few of these are detailed below:
How is my product performing in terms of sales?Retail sales have often been the most complete information available in most markets to assess performance. In most markets, this data is collected from a panel of wholesalers who supply their sales information on a regular basis (either monthly, weekly, some even on a daily basis). Collecting the information from such a limited source allows us to have very high levels of coverage and therefore near census data on the wholesaler outflow – making the data a reliable source of information that can be compared across markets. The widespread availability of the information makes it a benchmark for performance monitoring. This data is available in most markets on a monthly basis, and in key markets on a weekly basis for a very fast read.
What are the key indicators of success during launch? Focus Launch Track brings together a number of key indicators of performance of a product in its defined market. A few of these are detailed below:
How is my product performing in terms of sales? Retail sales have often been the most complete information available in most markets to assess performance. In most markets, this data is collected from a panel of wholesalers who supply their sales information on a regular basis (either monthly, weekly, some even on a daily basis). Collecting the information from such a limited source allows us to have very high levels of coverage and therefore near census data on the wholesaler outflow – making the data a reliable source of information that can be compared across markets.
Does this translate into demand? Retail sales from wholesalers into pharmacies do not, however, reflect real product demand. The outflow from pharmacies is the only way to capture the measure of market demand.
Which are the key prescriber specialities and how do they differ from one country to another? Another important measure is performance amongst different specialities. This is a qualitative measure of penetration within the targeted doctor speciality groups. This information can be collected from the medical audits where data is collected from a number of participating doctors who report on their prescriptions with treatment and diagnosis information but also from the prescription audits where the detail of prescriber types can be extracted from the prescriptions collected in the pharmacy panels.
Where are the patients that I’m gaining coming from, are they new or have they been switched from another therapy? Patients are another measure that is key to analysing performance. This information comes generally from the MediPlus Knowledge Manager service, again a panel of doctors who report on what they have prescribed, for which disease, in which diagnosis and treatment optic. The difference being that the database is longitudinal allowing to track same patients over the course of time.
What is my promotional spend breakdown? Does it differ from my competitors?The promotional audits provide another interesting measure which is the total promotional spend and its breakdown into the major channels of expenditure (sales calls, advertising, mailings, etc.). This allows benchmarking against competitive launches and products and compare outcomes based on different marketing tactics.
Other adhoc key performance indicators can be added into a IMS Performance Tracker system, creating a fully tailor-made environment allowing you to see what is the most important for you to determine success. This includes ex-factory sales, call activity information provided by you and input into the system, etc.
Does this translate into demand?Retail sales from wholesalers into pharmacies do not, however, reflect real product demand. The outflow from pharmacies is the only way to capture the measure of market demand.
Which are the key prescriber specialities and how do they differ from one country to another?Another important measure is performance amongst different specialities. This is a qualitative measure of penetration within the targeted doctor speciality groups. This information can be collected from the medical audits – where data is collected from a number of participating doctors who report on their prescriptions with treatment and diagnosis information – but also from the prescription audits – where the detail of prescriber types can be extracted from the prescriptions collected in the pharmacy panels.
Where are the patients that I’m gaining coming from, are they new or have they been switched from another therapy? Patients are another measure that is key to analysing performance. This information comes generally from the MediPlus Knowledge Manager service, again a panel of doctors who report on what they have prescribed, for which disease, in which diagnosis and treatment optic. The difference being that the database is longitudinal allowing to track same patients over the course of time. This means that it is possible to determine a patient profile (as well as numbers of patients, treatment and therapy information) and an in-depth vision into prescriptions generated as well as their source: are they new prescriptions for new patients, are they patients who have received an alternative treatment regimen, etc.
What is my promotional spend breakdown? Does it differ from my competitors? The promotional audits provide another interesting measure which is the total promotional spend and its breakdown into the major channels of expenditure (sales calls, advertising, mailings, etc.). This allows benchmarking against competitive launches and products and compare outcomes based on different marketing tactics.
Other adhoc key performance indicators can be added into a IMS Performance Tracker system, creating a fully tailor-made environment allowing you to see what is the most important for you to determine success. This includes ex-factory sales, call activity information provided by you and input into the system, etc.
