Neoslim™ Final


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Marketing plan for a new product launch (anti-obesity drug)in the U.S. market

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Neoslim™ Final

  1. 1. WILL PHARMACEUTICALS, INC.Neoslim™Marketing Plan<br />Presented by:<br />KingshukGhosh<br />Developed April 10, 2011<br />
  2. 2. Decision Request<br />Approval of marketing plan for Neoslim™ to be presented to the committee on October 04, 2011 <br />
  3. 3. Mission<br /> Our mission is to reduce the incidence of obesity and related co-morbidities, by consistent reduction of body fat and its maintenance in a safe and efficacious manner. <br />
  4. 4. Overall Objectives<br />To establish Neoslim as the biggest brand name for anti-obesity drugs, attaining blockbuster status<br />To minimize the prevalent patient drop-out trends in this class of drugs and increase market penetration in the US and later in Europe<br />
  5. 5. Long Term Objectives<br />To develop a holistic approach in the eradication of the obesity epidemic by launching the first obesity vaccine “Neoslim FTO” that knocks out the obesity gene <br />Capture the nutraceuticals market of diet drugs and OTC products by reformulating “NeoslimSmart” capsules for overweight patients<br />
  6. 6. Communication Objectives<br />Communicate the positioning of Neoslim across all promotional venues: “Neoslim, the first subcutaneously administered combination anti-obesity drug for adults as well as children, which offers superior efficacy and tolerability over all other anti-obesity drugs.”<br />
  7. 7. Promotional Objectives<br />Achieve anti-obesity drug category leadership in journal ad inserts<br />Achieve category leadership in total number of medical education events (including speaker programs, and teleconferences)<br />Generate significant Neoslim-specific news coverage to consumers as well as healthcare professionals<br />Have Neoslim included in all obesity/weight loss related round up articles/stories that discuss treatment<br />Strive to attain entry into drug formularies and achieve co-pay to complete reimbursement of Neoslim<br />
  8. 8. Epidemiology<br />
  9. 9.
  10. 10.
  11. 11.
  12. 12. Product<br />Neoslim™ is a combination anti-obesity drug<br />Subcutaneous route of administration<br />4 doses a year<br />Positive clinical trial results indicate Neoslim™ as a “cardiobesity” drug performing well on both criteria of safety and efficacy<br />No serious side effects<br />
  13. 13. Clinical trial Results<br />Neoslim<br />Body Mass Index of subjects who completed 6 months of treatment<br />Xenical<br />Mean weight loss and maintenance at year 1<br />
  14. 14. Market Event Timeline<br />
  15. 15. Planning<br />Pre-launch<br />Design an integrated specialty distribution and patient services model in the U.S. market that meets the manufacturer’s goals and involves all constituents, including specialty pharmacy distribution, patients, patient advocacy, physicians and payers<br />Finalize SOPs<br />Finalize coordinated marketing and communications plans and audiences <br />Patient and caregiver meetings<br />Web-based<br />Print <br />E-mail and mail<br />Meet with key KOLs <br />Describe program<br />Provide materials<br />Assist with staffing needs<br />Conduct training<br />
  16. 16. Launch<br />Post-Launch<br />Initiate receiving, warehousing, stocking and inventory control<br />Implement pharmacy dispensing and delivery, therapy compliance and 24/7 on-call support<br />Reimbursement services to include billing and collection, accounts receivable and contract management<br />Begin standard reporting and interface with company financial and management systems<br />Schedule monthly meetings for post launch review<br />Data collection and reporting<br />Post launch evaluation, patient satisfaction survey<br />Continuous improvement review and actions<br />
  17. 17. Situational Analysis (SWOT)<br />Strengths<br /><ul><li>Per capita pharmaceutical spending and absolute incidence of obesity
  18. 18. US key potential market</li></ul>US obese population exceeds that of France, UK, Germany, Spain, Italy, Australia, Canada, and Japan combined<br /><ul><li>Ability and willingness to pay for pharmaceutical products evident by per capita expenditure of $900
  19. 19. Neoslim has lesser side effects than its counterparts
  20. 20. Would require 4 doses a year</li></li></ul><li>Weaknesses<br /><ul><li>Overall market penetration of < 1%</li></ul> - remarkably low compared with 50% US market penetration of statins<br /><ul><li>Market penetration affected by other factors (not patient cost alone)
  21. 21. Patient non-compliance, patients stop taking drug within 90 days</li></ul> - less than 10% of patients remain on therapy for a year or more<br /><ul><li> Inadequate efficacy
  22. 22. Growing physician disenchantment</li></li></ul><li>Benchmark for understanding the effect of patient dropout<br />Statins<br />25% of patients stop taking pills within 90 days <br />60% remain on therapy for a year or more<br />Anti-obesity drugs<br />Less than 10% of patients remain on therapy for a year or more<br />
  23. 23. Opportunities<br />Increasing market and demand for anti-obesity drugs<br />Lesser choice of drugs with significant efficacy<br />Meridia withdrawn from US market brings extra sales of $300 million <br />Can compete with statins as a lipid lowering drug due to proven clinical trial results<br />
  24. 24. Threats<br />FDA rejection<br />Fears of general public (Phen-fen debacle, Meridia withdrawal)<br />Doubts of achieving required efficacy<br />
  25. 25. Market Overview<br />Approximately 68% of all U.S. citizens are overweight. <br />30%, totaling approximately 100 million Americans, are obese<br />More than 12.5 million children age 2 to 19 are overweight<br />
  26. 26. Competitors<br />
  27. 27. Alternative Treatment<br />Surgery<br /> Bariatric surgery – including gastric banding, gastric sleeve, gastric bypass, duodenal switch<br />Invasive procedure<br />Costly <br />Poses physiological complications<br />
  28. 28. Competitive Overview<br />Neoslim™<br />Market Position – 1st subcutaneously administered anti-obesity drug with formulations for both children as well as adults<br /> - long-term plans of making an OTC switch and vaccine development in Phase II<br />Product Characteristics – combination product tackling obesity through various etiologies<br />Profile Drivers – 4 doses/year <br /> - due to lipid lowering activity, can be safely supplemented to patients with cardiovascular complications as well as with a history of diabetes<br /> - greater chances of being included in healthcare plans and formularies<br />Profile Barriers – looming threat of FDA rejection<br /> - changing physician and patient perception of anti-obesity drugs<br />
  29. 29. Competitive Overview<br />Xenical/Alli<br />Market Position – currently the only patented FDA approved Rx/OTC drug in the market<br />Product Characteristics – Lipase inhibitor<br />Profile Drivers – relatively safer than other anti-obesity drugs (does not cause cardiovascular or psychological complications)<br />Profile Barriers – not covered by healthcare plans<br /> - lacks desired efficacy <br />
  30. 30. Competitive Overview<br />Phentermine<br />Market Position – one of the oldest FDA approved drugs<br /> - dominant player in the US generic anti-obesity market<br />Product Characteristics – Appetite Suppressant <br />Profile Drivers – cheaper<br />Profile Barriers – banned in UK and other European countries<br /> - has grave side effects like increased blood pressure & heart rate, nervousness<br />
  31. 31. Competitive Overview <br />Bariatric Surgery<br />Market Position – increasing market acceptance due to underperforming drugs and FDA disapprovals<br />Characteristics – Invasive procedure<br />Profile Drivers – can significantly reduce weight up to 25% for morbidly obese people (BMI > 30)<br />Profile Barriers – invasive procedure leading to resistance among patients<br /> - various physical implications, intolerances<br />
  32. 32. Place<br />
  33. 33. Price<br />Priced lower than Bariatric surgery and competitively to existing anti-obesity drugs and statins<br />Neoslim – 100 units/ml, 10 ml vial - $450<br /> Competitors<br />Xenical – 120mg, 90 - $316.03<br />Alli – 60mg, 90 - $ 51.52<br />Phentermine – 80mg, 60 - $62<br />Lipitor – 80mg, 90 - $176<br />Bariatric Surgery - $13,000 - $30,000<br />
  34. 34. Promotion<br />Target Audience<br />Pharmacists<br />Nurses<br />Doctors<br />Managed Care<br />Policy Makers<br />Consumers<br />
  35. 35. Doctors<br />General Practitioners<br />Cardiologists<br />Diabetologists<br />Pediatricians<br />Endocrinologists<br />Gastroenterologists<br />127,397 (Whole US)<br />Top 10 States<br />West Virginia<br />Kentucky<br />Mississippi<br />Arkansas<br />South Carolina<br />South Dakota<br />Oklahoma<br />Louisiana<br />Delaware<br />Maine<br />Total – 10,584<br />
  36. 36. Marketing Tactics<br />Physician meetings and events <br /> - 8,000 events reaching out to approximately 60,000 physicians<br />Field Samples (100units/ml, 10ml vial) 1no.<br />Patient Starter Kits (PSKs) (Neoslim 2 dose samples + educational, branded Neoslim brochures)<br />Speaker training <br />Sales force training and field aids<br />Advertising using internet and social media (Banner and Sponsored Ads)<br />Development of product website<br />
  37. 37. Internet Marketing<br />Using top diet websites<br />
  38. 38. Consumers (DTC Advertising)<br />Top magazines based on subscriptions a well as ethnic reach<br /> 1. Better Homes and Garden – 48.5 million<br /> 2. AARP The Magazine – 45.1 million<br /> 3. Ebony – 13.6 million<br /> 4. Country Living – 14.5 million<br /> 5. Hispanic Magazine – 2.9 million<br />National Newspapers <br />- USA Today (total circulation of 1.4 million)<br />
  39. 39. Market Map (based on market penetration )<br />Treatment naïve<br />US 900,000<br />UK  84,000<br />Previous Treatment Discontinued<br />US810,000<br />UK 75,000 <br />Satisfied<br />US 90,000<br />UK  9,000<br />Dissatisfied<br />US810,000<br />UK 75,000 <br />
  40. 40. Market Map (based on individual drugs in the market)<br />Treatment naïve<br />US  Xenical – 0.1%<br />Alli – 0.2%<br />Phentermine – 0.6%<br />Previous Treatment Discontinued<br />US  Xenical – 0.09%<br />Alli – 0.018%<br />Phentermine – 0.54%<br />Satisfied<br />US  Xenical – 0.09%<br />Alli – 0.02%<br />Phentermine – 0.06%<br />Dissatisfied<br />US  Xenical – 0.09%<br />Alli – 0.018%<br />Phentermine – 0.54%<br />
  41. 41. Key Assumptions (Base Case)<br />Product<br />Gain greater market acceptance over competitors<br />Have lesser patient drop-out incidences<br />Achieve greater market penetration<br />Potential of breaking the statin market <br />Enter the European market and establish stronger market share by the 2nd year<br />Inclusion into formularies for reimbursement<br />Introduction of OTC reformulated “NeoslimSmart” capsules for overweight people <br />Capture the $300 million U.S. market of Meridia<br />Price<br />Eventually have more bargaining power and could price higher<br />
  42. 42. Key Assumptions (Base Case)<br />Market Growth<br />Global anti-obesity market forecasted to be 1.26 billion in 2011 and grow at a CAGR of 7% for the next decade<br />Intend to capture the huge opportunity to establish brand loyalty<br />New Entrants<br />The growth opportunity looks enticing but high barriers to entry (tough FDA safety/efficacy criteria)<br />Drugs in the pipeline - Zafgen, Gelesis (Launch of “Neoslim FTO” vaccine)<br />
  43. 43. Commercial Potential<br />
  44. 44. Thank you<br />