Summary
Client: A leading global biopharmaceutical company was developing a novel drug for the treatment of diabetes specifically targeting children and adolescents. As part of their market access analytics, they sought to develop an economic model to better plan their market access activities and maximize revenue opportunities.
Challenges:
- Lack of clinical trial data analysis:
There was no comprehensive analysis conducted on the clinical trial data specific to the pediatric population, which hindered the accurate assessment of the drug’s potential value and cost-effectiveness.
- Limited risk evaluation:
The absence of risk evaluations impacted strategic decision-making for developing a market access roadmap, as potential risks related to reimbursement, competition, and regulatory hurdles were not adequately identified and addressed.
- Unclear action plan and revenue risk:
Despite being close to launch timelines, the company lacked a clear plan of action, which posed a significant revenue risk post-launch.
Solutions: Quantzig conducted thorough market research in the pharmaceutical industry including a review of relevant clinical trial data, global guidelines, and priority outcomes for pediatric patients with diabetes. This market access analytics provided crucial insights into the drug’s clinical effectiveness, safety value, and potential value to the target population. Our team reviewed existing economic models for diabetes and identified the most suitable model type, structures, and key factors to be considered. Finally, we did a comprehensive risk analysis, considering factors such as reimbursement limitations, competitive landscape, regulatory hurdles, and barriers specific to the pediatric market.
Impact Delivered
All of the above initiatives resulted in:
- A clear plan of action was developed to optimize opportunities for the client’s product to be developed
- Recommendations were provided for data inputs and challenge handling
- Constructed a comprehensive and accurate economic model
About the Client
- A leading global biopharma company recognized the growing need for effective diabetes treatments specifically tailored to the pediatric population.
- They aimed to develop a drug that could provide significant benefits to children and adolescents with diabetes. To ensure successful market access analytics, market research in the pharmaceutical industry, and adoption of the drug, they decided to create an economic model. This model would help them assess the potential costs, pricing strategies, reimbursement mechanisms, and overall financial feasibility of their product.
- By building an economic model for market access analytics, the company aimed to demonstrate the value and affordability of their novel drug, ultimately improving access to much-needed diabetes treatment options for children and adolescents worldwide.
Challenges
- The lack of analysis of clinical trial data posed a significant challenge for the biopharma company in developing its market access roadmap. Without a thorough understanding of the drug’s efficacy, safety profile, and potential side effects based on clinical trial results, the company couldn’t assess the true value proposition of its product for children and adolescents with diabetes.
- The absence of risk evaluations further compounded the problem, as it hindered the company’s ability to make informed strategic decisions regarding market access. Without risk evaluations, the company had limited visibility into the potential risks it may encounter along the market access journey.
- The lack of comprehensive clinical trial data analysis, risk evaluations, and market research in the pharmaceutical industry not only impeded the strategic decision-making process but also raised concerns about patient safety and regulatory compliance. These information gaps could have far-reaching implications for the development, regulatory approval, and subsequent market access of novel diabetes drugs targeted at children and adolescents.
- No clear plan of action was present despite being close to launch timelines which posed revenue risk post-launch. Without market research in the pharmaceutical industry and an execution plan, the company faced the possibility of encountering operational, marketing, and distribution challenges that could negatively impact revenue-generation post-launch. The lack of a clear plan of action also hampered the company’s ability to effectively allocate resources, including budget, personnel, and infrastructure, in preparation for the product launch. This lack of resource planning further compounded the revenue risk, as inadequate resource allocation could lead to inefficiencies, delays, and missed opportunities in capturing market share and generating sales.
Solutions
- Quantzig conducted a comprehensive review of relevant clinical trials about diabetes, focusing on studies involving children and adolescents. This market research in the pharmaceutical industry aimed to gather valuable insights into the efficacy, safety, and potential benefits of various treatment options for this specific patient group. In addition to clinical trials, we also examined global guidelines and recommendations related to diabetes management in children and adolescents. By reviewing these guidelines, the company sought to align its economic model with established best practices and ensure the relevance and appropriateness of its market access activities.
- To develop a robust economic model, our team further explored existing economic models for diabetes. They examined the model types, structures, risk factors, and outcomes considered in previous studies. This analysis provided valuable input for constructing a comprehensive and accurate economic model tailored to the target population of children and adolescents with diabetes.
- Based on the strategic evaluation of established modeling approaches, Quantzig developed a tailored approach that took into account the unique elements of the client’s product for diabetes treatment in children and adolescents. This customized approach aimed to capture the specific characteristics, benefits, and challenges associated with the novel drug, ensuring a more accurate and comprehensive economic model. The strategic evaluation of established modeling approaches allowed us to leverage its expertise in economic modeling while tailoring it to the unique requirements of the client’s product. By considering the specific characteristics and benefits of the novel drug, the economic model could more accurately assess the potential value, cost-effectiveness, and affordability of the treatment for children and adolescents with diabetes.
- Our team also conducted a thorough analysis of potential challenges that could impact market access and adoption of the client’s product. These challenges could include regulatory hurdles, reimbursement limitations, competition from existing therapies, and specific barriers related to the pediatric population. By identifying and analyzing market research in the pharmaceutical industry, we aimed to provide the client with actionable insights and strategies to mitigate risks and maximize market access analytics.
