One notable characteristic of the launch readiness landscape as we settle into 2020 is the lower volume of innovative drugs entering the marketplace. The record number of approvals granted in 2018 by the two most influential agencies, the US Food and Drug Administration and the European Medicines Agency, did not hold up in 2019.

For all its reliance on innovation as a business driver, pharmaceuticals is a traditionally conservative industry that advances by small and careful steps. As we  map out some of the dominant pharma trends for 2020, perhaps we should also reflect on what ‘innovation’ actually means, what its value is, and what it costs.

Launch excellence for pharmaceuticals depends on a multitude of factors, from pricing, reimbursement and health technology assessment (HTA) to positioning, sequencing, sales, marketing, media coverage and the competitive landscape. None of these can get off the ground, though, without regulatory approvals in key markets. Here, we tally up 2019 new drug approvals to date in the US and the European Union.

Digital technology and media have disrupted and revolutionised pharmaceuticals from research to market entry and beyond. That presents some challenges to product launches but also opportunities to maximise launch efficiency. In an ever more global, complex and volatile market environment, digital transformation of a traditionally conservative industry creates fresh possibilities to bring both launch strategy and execution into alignment.  

Your dazzling new pharmaceutical product is going nowhere fast unless it reaches patients on time and on terms that balance affordability with the need to recoup years of investment. Is your organisation really taking control of the market access challenges that make all the difference between launch success and an also-ran?