Interview

Harness the true potential of clinical trials

Management Centre Europe in conversation with faculty member Günter Umbach, MD, author of the book “Successfully Marketing Clinical Trial Results: Winning in the Healthcare Business” ” (original edition published by Gower Publishing, London).

What pharma revenue opportunity often goes untapped?

Companies invest a lot of money in conducting clinical trials. Unfortunately, they assign only a Cinderella role to the study results they receive. Preserved data is simply left to lie fallow: The treasure chest is not even opened.

Why do many companies overlook this golden business opportunity?

There are two main reasons why companies fail to capture the appropriate return on investment here. Some companies simply don’t recognize study results as part of the value chain. Other companies, on the other hand, lack the know-how to translate scientific findings into information for physician prescribing behavior. This is comparable to the expertise required by a diamond cutter to transform an inconspicuous rough diamond into a precious jewel. He increases the value of an existing thing by knowing exactly what is important.

What does that look like in practice?

The medical development department believes it has done its job when a study is completed “on time and on budget.” Marketers receive a comprehensive study report with a variety of tables. Neither they nor their creative agency have the muse and expertise to work through the mass of data. The consequence: After presentation, discussion and publication in the scientific environment, the data disappear into oblivion – unfortunately.

Who should be responsible for marketing study results?

Professionals in marketing, medical marketing and medical science departments hold the key to the treasure chest. Their effective cooperation in the preparation, presentation and communication of scientific results determines whether this treasure slumbers in obscurity or is unearthed.

How cost-effective is the marketing of study results?

It is very cost-effective way, because the medical development department has already poured the foundation. As a product manager, you have the great advantage of being able to build on existing data, contacts and organizations. This makes it all the more surprising that decision-makers are often reluctant to approve the few additional funds needed for a sales-generating marketing campaign.

How can the revenue potential of studies be exploited more quickly?

Many companies learn what works and what doesn’t by trial and error in the marketplace – an often thorny path. Advising in advance would help avoid pitfalls and apply the most promising strategies and effective measures from the outset.

“The success of Adalat serves to demonstrate how good management of a pharmaceutical brand can maintain sales.”
Article by Dennis Kvesic: Journal of Medical Marketing, 2009