Stand out or lose out: Rethinking differentiation in Pharma
The development of pharmaceutical drugs has traditionally relied on the ability of a product to stand out based on its clinical attributes, such as efficacy, safety, and tolerability. However, as the benchmarks for clinical efficacy and safety become increasingly challenging to surpass, drug developers find themselves grappling with the pursuit of genuine product differentiation. This struggle keeps them awake at night, questioning whether achieving a good night’s sleep is dependent on luck or requires a re-evaluation of the decision-making process to explore alternative paths to success.
At Cambridge Healthcare Research [CHR], we interact daily with pharmaceutical professionals who face the daunting task of making difficult decisions today, without certainty that these choices will result in truly differentiated products in the future. The decision-making process is further complicated by a market environment characterised by increasingly complex and rapidly evolving healthcare systems, more discerning customers, and constrained health budgets.
Our mission is to provide our clients with a comprehensive understanding of their current landscape and the factors essential for long-term success. By doing so, we aim to empower them to make informed decisions about their future endeavours. This paper presents CHR’s insights and perspective on drug product differentiation in today’s dynamic climate, highlighting how this approach can pave the way for commercial success in the years ahead. The paper draws upon our extensive work with a diverse range of pharmaceutical clients across various therapeutic areas, our engagement with industry experts, and a roundtable discussion we hosted during the Reuters Pharma 2023 event, which explored how the pharmaceutical industry must rethink differentiation to avoid losing its competitive advantage.
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