Conducted market opportunity assessment for a large pharmaceutical company for identifying sales potential

  • November 12th, 2018

What We Did: Developed an exhaustive dashboard for providing critical information around competitive landscape, competitor assessment and plan positioning for a large pharmaceutical company.

The Impact We Made: An in-depth analysis about key competitors enabled the client to better position their products in the market and closely track performance against competition. The market share was retained and a gradual increase was seen.

Summary – Opportunity assessment for new drugs

The client is interested in developing two of its pipeline molecules for various oncology indications in major geographical locations. Following suspension of some clinical trials and withdrawal of its molecules from development due to unmet objectives, the company sought competitive intelligence for positioning its products in a better way.

About The Client – Large pharmaceutical company

The client is one of the leading pharmaceutical company in the world which manufactures prescription drugs across several therapeutic areas like oncology, diabetes, internal medicine, etc. As drug development involves huge cost, company needs to ensure demand for the drug when it’s launched. Mu Sigma leveraged situation assessment and portfolio prioritization metrics in order to identify market opportunities for the client.

The Challenge – Significant changes in market conditions

There have been significant changes in the past few years in the oncology market – increased competitions from existing and new players, launch of new classes, molecules and formulations, products seeking secondary indications. These market events may have significant impact on the development/ positioning of the client products

The Approach – Market assessment dashboard for key metrics

Mu Sigma built an opportunity assessment dashboard for providing critical information around competitive landscape, competitor assessment and planned positioning:

  • Using the secondary market research data, Mu Sigma identified “in-market” and “to-be” competitors for our client. At the same time, product profiling for the competitor’s molecules was done to understand different competitive products.
  • Next, competitor segmentation was done based on drug developmental status w.r.t client’s product positioning. Vital regulatory timelines and launch dates were also obtained for the competitor molecules.
  • Any regulatory changes in the market were identified based on initial inputs from third-party sources, government norms and research papers.
  • The team also worked on benchmarking the pricing of the various treatment options currently available in order to come up with the prices of the new molecules.
  • Based on developmental plan and competitive landscape, target product profile (TPP) and product positioning was done for the molecules.

The Outcome – In-depth analysis of market potential

The opportunity assessment dashboard consisted of below information:

  • The competitive landscape: A holistic view to the clients about the pipeline and launched products in various indications of interest, along with their “developmental-phase-wise depiction”, in a geography-wise manner
  • The timeline-chart: Represented the time/ predicted time of launch/ approvals/ filings of all the products featuring in the competitive sphere in various developmental phases
  • The key-competitors: Gave the clients a fair idea of the products it would face chief competition from

In all, we identified for the clients – key competitors, their products, regulatory timelines, active ingredients, routes of administration, technologies employed, indications sought, and plan positioning.  The client needed to craft a more deliberate strategy to occupy a healthier niche in the prevailing market competition. Our dashboard also assisted the client in evolving a better management guidance and decision making.