It is too obvious to open with the unprecedented changes happening in the global life sciences industry. It is probably more pertinent to focus on what this means at a granular level, how these changes are impacting people and specifically leadership. Are organisations identifying and nurturing the right capabilities, in the right areas?
As pharma and biotech companies transition rapidly into the personalised and global consumer world, more than ever before it is of paramount importance to invest in effective market access, to ensure products have the desired impact on patients and of course, commercial returns. Often the commercial success of a pharma company can be traced back to the market access strategy.
However market access is becoming more and more challenging due to a confluence of factors. As healthcare costs rise and competition from generics broadens the playing field, payers are demanding more transparency on products’ effectiveness which is inevitably increasing the spotlight on market access.
As we have seen the challenge has often been the integration, or lack of, between science and commercial on both a global and local scale, within market access.
It is those who can take organisations on this journey and the transformational talent our clients are seeking. An evolving breed whom we term, the Scientific Marketer.
What therefore makes a Scientific Marketer?
They are the people who can lead increasingly complex market access strategies from early stage development and clinical trials, through the regulatory minefield and into the commercial market. Those who are genuinely able to translate the science into consumer centricity and drive results. The key ingredients are a deep understanding of the molecular science, regional health economics and payer relationships, but also how this relates to the external commercial landscape, increasingly engaging the patient directly rather than through traditional channels.
Clearly, when looking at what makes a successful market access strategy, this requires new and innovative thinking, not always synonymous with traditional big pharma. The key is to diversify away from focusing purely on market access, and integrate into all functions of an organisation thus avoiding becoming too myopic. This includes sustaining the optimum blend of price, positioning, reimbursement and usage volume of a product throughout the ever changing lifecycle whilst also managing policy reforms, payer demands, price pressures and changing consumer behaviours.
eg.1 sees the search for these game changing Scientific Marketers now extending to parallel sectors where capabilities can be easily transferred, such as consumer products, consumer health, nutrition and even material sciences. It is these game changers who are at a premium and are arguably the future of the commercial leadership of pharma.
To discuss the Scientific Marketer further, please contact us at firstname.lastname@example.org or call us on 0207 637 4500.