Tag Archives: Launch Tracking

LaunchTraX – A Post-Launch Brand Performance Tracking Tool for the Pharma Industry [2/5]

Hi Guys!!

With this post, I am uploading the first version of Post-Launch Brand Performance Tracking Tool ─ LaunchTraX (Download LaunchTraX_v1.0). Before jumping to the tool, I would like to share a small concept used in the pharmaceutical industry for the launch performance tracking.

Launch Date Standardization

Sales performance tracking generally involves comparing value/volume sales of brands for same time periods (e.g. Year 2011 sales of Drug A vs. Year 2011 sales of other drugs). However, in case of newly launched brands, it would make more sense to compare the sales of brands for equivalent months/quarters of launch, so as to relate the post-launch growth curve of different brands irrespective of their launch dates.

For instance, if I have recently launched a new drug (say in Jan 2011) in the Hypertension market, I can compare my drug’s first-12 month (Jan-11 to Dec-11) performance with one of its competitors (launched in Jul 2007) for the same period i.e. Scenario1 or with the competitor’s first 12-month (Jul-07 to Jun-08) i.e. Scenario2. These equivalent months of launch are represented as M1, M2…., Mn.

Launch Date Standardization - Scenarios

The Scenario2 is usually preferred for new brands to benchmark their post-launch performance with the competitor brands in the same market, thereby helping companies in fine-tuning their strategies. Continue reading

LaunchTraX – A Post-Launch Brand Performance Tracking Tool for the Pharma Industry [1/5]

Hi Guys!!

In this project, I am going to showcase the importance of MS Excel automation in the post-launch tracking of drugs in the Pharmaceutical industry. Although this launch tracking dashboard/tool is going to be Pharma specific, it can be used for other industries as well, with minor tweaks.

Post-marketing and performance optimization of the newly launched drugs are the most important aspects of the drug development cycle in the Pharmaceutical/Biotech industry. It is quite crucial to determine the planned/anticipated effects of all such implemented strategies on a regular basis, so that the companies can make a change in their post-launch strategies (if required).

Despite having well-designed KPIs at the centre of each drug launch, only 2-3% of these newly launched brands excel in today’s pharmaceutical environment. One of the few reasons for this is that companies fail to define and track post-launch success of their brands. Hence, development of launch tracking performance metrics/ dashboards is very important to:

  • provide timely reports to senior management on Sales performance KPIs such as gain/loss in brand share vs. market
  • resolve deviations from already implemented plans in a timely and effective manner
  • fine-tune brand strategies due to potential risks from other competitor brands Continue reading