We can help determine customer goals and requirements, capitalising on marketing opportunities, niche markets, forecasting trends, identify and maximise opportunities in the existing generics market
In their drive to improve internal business efficiencies, generics and R&D companies alike are increasingly turning to outsourcing for their raw materials (pharmaceutical actives and intermediates). While this strategy creates exciting opportunities for chemical organisations, it also presents a number of challenges.
Chemical companies, in keeping with many healthcare businesses, need a full understanding of the market and product developments within their therapy area to meet the needs of their potential customers. By tracking the lifecycle of a product, managers can easily identify forthcoming opportunities that would otherwise have been missed. Likewise, keeping track of market trends and patterns is essential to identify growing or slowing business and adapting the related chemical production accordingly. Market intelligence and new insight has never been more crucial and valuable in a competitive marketplace to ensure business viability.
Some of the key issues that IMS can help to address:
- Identifying opportunities
Identifying customers and pre-empting their commercial requirements are fundamental to reaping success in this challenging business area. Knowledge of the pharmaceutical industry’s Phase II and Phase III pipelines and a detailed understanding of its outsourcing and competitive environment are vital for competitive edge.
- Determining customer goals and requirements
As growth drivers of the healthcare market, both biotech and generics organisations are vital customers for chemical corporations. A clear sense of their goals in the market and their likely chemical requirements are key to securing more successful business relationships.
- Capitalising on marketing opportunities
IMS has a clear picture of the pharmaceutical market and emerging pipeline opportunities – at a level as specific as geographical markets, therapeutic areas, and branded products. It can provide critical insights into competitive issues between companies and their needs in relation to launching their finished pharmaceuticals.
Because IMS collects sales, kilogram and unit data around the world, its customers can comprehensively monitor, on a market-by-market basis, the consumption levels of every pharmaceutical and generics company and their use of existing APIs. They can track the market to the latest quarter, monitor demand for competitive products and thus be positioned to maximise marketing opportunities.
- Capturing niche markets
IMS tracks the development of all drugs in active development, from pre clinical to launch, which provides the ideal base for chemical companies to determine the potential for capitalising on a niche market. Essential details on product names, patents, chemical, biotechnology, natural and fermentation records, reaction types and conditions and licensing/franchise agreements help to complete the picture, and sub-structure searching by final product or intermediate makes the process quicker and easier.
- Forecasting trends to improve ROI on production costs
Forecasting consumption of an API helps customers focus on strategic alliances and ensure efficient return on production overhead costs.
- Identifying opportunities in the generics market
Whether they already operate in the generics or specialist pharmaceutical markets or are considering entering these sectors, chemical companies need the knowledge to predict which products are facing protection expiry, the extent of their sales volumes and their key markets.
IMS captures detailed patent records for all products coming off patent for the next 10 years (including SPC, Marketing Approval and Estimated Data Exclusivity Expiry dates) and links them to current sales in value and volumes by country, product, company, molecule and form. IMS can work with customers to help accurately and effectively assess the viability of generics markets in the future.
- Maximising opportunities in the existing generics market
When a pharmaceutical product loses patent protection, many players can enter the market but supply requirements remain of vital importance. Market shifts in terms of volumes, values and geographical reach are inevitable, and IMS is ideally positioned to work with chemical companies to unravel the complexities.
IMS can provide vital insights into the value of the generics market post-patent and assess the relative strengths of forms and molecules sold, whether they be generics carrying brand names, or sold under the INN. Working with IMS, customers can identify the key players/customers correctly and target those segments to confirm supply.