Manufacturers of the 48 launched products since January 2019 are facing a unique challenge in the current market. COVID-19 and social distancing policies have created different challenges to the commercial success of each of these drugs.
- Sales reps have limited HCP contact. There is some e-detailing, but nowhere near the level of interaction previously possible. Ipsos’ proprietary research shows the number of sales rep visits to HCPs has dwindled from an average of 16 to just one a month.
- Some variance exists among specialties, but overall 38% of HCPs who were seeing reps prior to the pandemic have eliminated rep visits altogether. This is drastically changing the marketing and promotional paradigm for companies.
- HCPs are seeing a third to a half as many patients and among some specialties, even less. HCPs are foregoing routine and non-emergent virtual visits to prioritize acute patient needs. Among HCPs there is a concern that patient follow-up will be delayed as availability cannot be guaranteed.
- HCPs report not wanting to switch patients to new drugs. Ipsos’ research shows that 26% of practices are switching patients away from treatments that impact their immune system. This rises to 42% among oncologists and 52% of rheumatologists.
We are also seeing that companies are adjusting launch plans in different ways. This variability has made the competitor response to recently launched drugs much less predictable, thereby challenging previously held assumptions.
This white paper draws upon Ipsos’ strong foundation of insights and experience for products/portfolios to build upon, during this unprecedented time in the market.
Key considerations for assessing the risk profile of recently launched drugs, in light of the impact of COVID-19, include:
- Understanding the risks certain drug characteristics pose to commercial success in the current environment
- Assessing how past performance and the evolving competitive landscape weigh into the overall risk
- Determining the financial health of the parent company and its ability to adapt to these new market dynamics
To take you further along your journey, we would welcome the opportunity to discuss a tailored approach for helping you assess your risk and adjust your plans accordingly. Explore our rapid review approach and reach out to your Ipsos account manager or James McDermott, SVP, Advisory Services.
[WEBINAR] APAC Digital Doctor 2020: A 9-country study of 676 Doctors’ perspectives on digital and connected health [Webinar recording]
Thank you for your interest in our webinar hosted on June 10, 2020. Though you missed our live presentation, we are delighted to provide you with the recording of this informative session you can view on demand at your leisure.
[WEBINAR] Medical Devices & Diagnostics: Current view of the entire ecosystem [Webinar recording]
Thank you for your interest in our webinar hosted on June 3, 2020. Though you missed our live presentation, we are delighted to provide you with the recording of this informative session you can view on demand at your leisure.