Eric Bolesh Quotes (9 Quotes)

Alliance management is the final piece of the business development structure. Formal alliance management groups tend to appear in relatively sophisticated organizations, and they command critical budget dollars.

A brand's overall ability to reach its sales goal primarily depends on its capacity to quickly and thoroughly react to external obstacles faced during brand development and launch. That means having an adequate budget that can help brand teams meet challenges.

If a company doesn't use their time, money and manpower to tackle major commercial obstacles then the product will flop regardless of how much time, money and manpower is used. The successful brands are backed by teams that are knowledgeable about the industry and what potential problems may arise. These teams use what resources they have to make a favorable climate for their drug.

Since alliance management is one of the most important BDL functions, these teams can serve on the front line in the battle against generics. Managing successful alliances with generics firms help organizations that depend on development and deals to keep pipelines stocked and revenue flowing.

Close examination shows that dollars invested are not a predictor of staffing levels. Companies, especially those with mid-level and niche brands, are going to prioritize their needs and make the best use of their limited resources, including staff.

Lack of direct competition allows for lower spending. Me-too brand teams must make a name for their drug in a market with better-known, already- existing drugs. First-in-class teams are pioneers with the luxury of molding a new market for their drug.

Companies must balance their options among the most desirable and most practical strategies. While RD may develop a next-generation brand, companies risk early loss of critical revenue streams if they do not pursue a range of secondary and tertiary options.

Setting realistic goals and having a well-thought-out plan is important. Generic competition in any given market is inevitable. Start your next- generation drug development early -- just after product launch -- and be ready to show patients that the benefits gained from the scientific advances of a next-generation drug outweigh the savings that come from switching to generics.

Generic drug sales are expected to reach 60 billion by next year and today account for more than half of all prescriptions filled in the US. Branded companies must employ a range of defensive strategies if they are to maintain an influential market position after their patents reach expiration.