The companion diagnostic launch model is poised to become the go-to method of releasing targeted medications to the public. This approach will not only deepen public satisfaction and trust in your pharmaceutical company but also increase profit margins by targeting your research and development efforts. Here are the reasons why:
1. Simultaneous launches for companion diagnostics that are coupled with a therapeutic solution are a key factor in unlocking the full potential of a therapy that is highlighted by particular biomarkers.
2. Its simplicity lies in the integration of diagnostic and therapy. Kept apart, the launch process is too unwieldy and dense, but when combined it becomes streamlined, leaner and more targeted toward those unique populations that it is designed to benefit.
3. Better communication between the therapeutic and diagnostic silos ensures that each team is on the same page and has the same goals. It is crucial that the components of each are known and respected in order to provide a cohesive launch that benefits both sectors.
4. Cookie cutter is out and specialization is in. Gone are the days when a one-size-fits-all drug launch provided pharmaceutical companies with the numbers they hoped for—and needed—in order to realize their desired return on investment. Instead, targeted specialization in the form of companion diagnostics provides these companies with the results they were projecting.
5. Launches using companion diagnostics are unique. This aspect allows them to easily stand out from the crowd, particularly for that segment of the population that is going to benefit most from the development. Highlighting the inter-relationship between diagnostics and therapies provides a personalization that just cannot be developed fully when launches for therapies are not coupled with diagnostics.
6. Value propositions can be increased due to a reduction in both development costs and sample sizes. Companion diagnostics could also improve the potential of a drug that is floundering due to lack of a targeted response. This process could potentially increase both the market size for the drug and its profitability.
7. The ability to develop and release drugs in a timely manner so that a well-defined subset of the population can reap the benefits means that pharma companies see a much quicker return on their investment. In addition, the speed at which the drug can be released means that less time is spent on testing populations that might not be a match.
Utilizing the companion diagnostic launch process is a key element in the future success of pharma companies. Is your company ready?