Market Evaluation for Obesity Drug Candidate

Market Evaluation for Obesity Drug Candidate

Problem

Company A wanted to bring a new obesity drug to market but was concerned about the product’s potential reception. Specifically, the Client wanted clarification on the decision-making process, coverage policies, reimbursement criteria, and potential reactions from industry top tier payer / purchaser organizations.

Solution

BMS conducted in-depth interviews with senior medical directors and behavorial health executives from commercial managed care organzations and the largest managed care plans.

Outcome

BMS successfully collected and synthesized valuable information about expected coverage policies and reimbursement levels for obseity drugs in general, as well as information on the assessment procedure for the client’s product in particular. BMS determined what top tier Medical MCOs thought about the product, how much they would cover, and how much they would pay.

Reimbursement

Reimbursement is critical to market success for products that are administered in hospitals or clinics. BMS advises planning for reimbursement at every stage of product development. Reimbursement issues, such as whether new or existing medical codes are appropriate, affect regulatory choices in product claims and labeling and (for devices) whether to prepare 510(k) vs.PMA applications.

Economics

Clinical studies are the key to achieving acceptance of new technologies and medical treatments not only for regulatory authorities, but also for reimbursement coverage, formulary acceptance, and physician utilization. Success in clinical studies can be achieved only by excellence and attention to detail in clinical protocols and statistical plans.

Marketing

Managed care has transformed the pharmaceutical and medical device marketplace. Physicians, hospital administrators, and managed care medical directors need relevant, credible information, and your marketing program needs to deliver this information effectively. Accurate competitive intelligence that is timely and segmented can be the key to maximizing market penetration while minimizing sales force costs.