Date post: | 20-Jun-2015 |
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How a Specialist Drug Maker Ensures that its Travel Drug Program is Best In Class
CASE STUDY
HOW A SPECIALIST DRUG MAKER ENSURES THAT ITS TRAVEL DRUG PROGRAM IS BEST IN CLASS WWW.FULD.COM
Have Drug, Will Travel?
In order to compete more effectively in the market, a maker of specialist drugs for chronic conditions, wanted to ensure that it offered a best-in-class support program for its patients when they traveled outside their home countries. Despite an almost complete absence of public information about this highly nuanced market niche, Fuld + Company was able to gain deep insights into the travel drug program of the client’s closest competitor.
Company Overview
HOW A SPECIALIST DRUG MAKER ENSURES THAT ITS TRAVEL DRUG PROGRAM IS BEST IN CLASS WWW.FULD.COM
It’s Complicated Key Business Challenges
Travel drug programs are designed to make sure patients traveling abroad have access to their medications. These drugs require special handling, shipment across borders, and administration by healthcare professionals in the destination country. In jurisdictions where the drug may not have been approved, importation issues arise. Travelers must be assured a reliable supply of the medication and the equipment for administering it. Sites for administering the drugs must be identified and compensated, and out of pocket expenses for patients must be taken into consideration.
HOW A SPECIALIST DRUG MAKER ENSURES THAT ITS TRAVEL DRUG PROGRAM IS BEST IN CLASS WWW.FULD.COM
Lots of Players, Nuances, and No Information Key Business Challenges
The complex chain of drug supply and patient support involves many stakeholders. They include: patients, physicians, specialty pharmacies, patient advocacy groups, courier services to properly transport drugs, clinics for administering specialty drugs, as well as patient case managers in the country of origin, and destination countries. Multiply those stakeholders by the number of competitors pursuing highly nuanced programs. Factor in the absence of public information, and the enormous magnitude of the competitive and market intelligence challenge emerges.
HOW A SPECIALIST DRUG MAKER ENSURES THAT ITS TRAVEL DRUG PROGRAM IS BEST IN CLASS WWW.FULD.COM
A Complete Picture, A Clear Map, and Detailed Points of Comparison
The Fuld Approach
After quickly synthesizing what little public information was available, the Fuld team met the engagement’s unique challenges in the only way possible. We conducted exhaustive primary research with stakeholders in multiple countries and mapped the program of the client’s closest competitor. As a result, we were able to paint a complete picture, thereby providing the client with the ability to compare its own practices to those of the competitor.
HOW A SPECIALIST DRUG MAKER ENSURES THAT ITS TRAVEL DRUG PROGRAM IS BEST IN CLASS WWW.FULD.COM
A Reassuring Result Key Business Impact
Given so many complexities and nuances, the client gained valuable insights about all of the stakeholders involved, and about the many different practices in the various target countries – insights that can be leveraged to fine-tune the company’s own program. This was something it could not have learned in such an opaque and complex market without Fuld’s assistance. Now, instead of blindly throwing resources at the program, the company can confidently stay on course.
HOW A SPECIALIST DRUG MAKER ENSURES THAT ITS TRAVEL DRUG PROGRAM IS BEST IN CLASS WWW.FULD.COM
Coping with Complexity The Fuld Review
Many companies, like our client, find themselves operating in enormously complex environments that are often difficult to grasp fully. Nevertheless, they cannot simply retreat from the field, but must operate on untested assumptions about the competition. By working closely with the client, and taking a qualitative approach appropriate for such a nuanced problem, we were able to put those assumptions to the test. The client now has a clear picture of a very fluid and complex process.
HOW A SPECIALIST DRUG MAKER ENSURES THAT ITS TRAVEL DRUG PROGRAM IS BEST IN CLASS WWW.FULD.COM
Think a similar solution could work for your organization?
CONTACT US fuld.com/solutions
HOW A SPECIALIST DRUG MAKER ENSURES THAT ITS TRAVEL DRUG PROGRAM IS BEST IN CLASS WWW.FULD.COM
NORTH AMERICA
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About Fuld + Company
WHO WE ARE
Since 1979 Fuld + Company have pioneered competitive intelligence, and today we work with leading companies worldwide to deliver the competitive and market insights they need to make better business decisions. We don’t rest on our history and past successes. This means working hard to deliver uncompromising analysis that generates sound advice and earns us enduring partnerships with our clients.
WHY CHOOSE US
We are driven to expose our clients to insights about their industry, their competition and a changing market; designed to help avoid surprises and industry shocks. Through deep research, penetrating analysis and strategic gaming + advisory expertise, our team of professionals help you identify and solve tactical and strategic challenges. We help reduce the risks associated with business-critical decision making.
COMPETITIVE + MARKET INTELLIGENCE
Competitive + Brand Insights
War Games / Competitive Simulations
Market Analysis, Share + Sizing
Supply Chain Mapping
GO-TO-MARKET STRATEGY
Brand + Product Positioning / Launch Support
Product Portfolio Roadmap
New Market Entry / Segmentation
Value Chain Analysis
Life Cycle Management
Win / Loss Bid Support
CORPORATE STRATEGIC PLANNING
Early Warning + Scenario Planning
Sales Force Effectiveness
Merger/Acquisition + Licensing
Innovation Strategy
Business Model / Industry Convergence