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Pharmaceutical new product launches require many different activities and levels of investment. It is critical for launch teams to understand the right level of resources required for the key activities that give a new product its best chance for gaining a market foothold.
This study provides current data on the funding levels of the key activities necessary to bring a new product into the U.S. market. Data are presented not only for launch year but also for each of the three years preceding product introduction. Brand and marketing leaders can use the results of this study to identify shifts in launch activity spending priorities across the industry and to compare spending levels for their own launch preparation programs against industry averages.
Based on a recent Best Practices, LLC benchmarking project, the study provides quantitative metrics to help companies chart effective budget strategies and allocate funds for new brands.