In a world where precision drugs and personalized treatments present industry players with great opportunities and new challenges, the life sciences industry continues transforming itself to meet the future. These innovative treatments may cater to only a small patient population, but they offer tremendous value to the individuals receiving them.
Axtria’s Commercial Excellence Summit roundtable brought together pharmaceutical industry leaders to brainstorm ways to meet the current challenges of commercializing precision drugs and personalized medicines. They discussed key challenges and changes in commercialization strategy, organization design, and investment planning to align the industry for the future. These experts’ key takeaways follow:
- Frontline teams (sales teams, MSLs, KAMs) will need to change, both in terms of skills and operating model.
- Increased collaboration will be needed with third parties to drive the personalized medicine experience.
- Marketing campaigns and execution strategies will need to become more precise and targeted.
- Data integration and technology enhancements across functions (CRM, hub, and PSS) will be critical.
- Laser-sharp focus on patients and their evolving needs will be key for success.
- Rapid communication between various functions (sales, MSL, KAMs, PSS, hub, etc.) will be critical for personalized medicine.
- Cost management will be critical to delivering precision drugs to patients effectively.
- Agility will be key for personalized treatments, enabling a higher degree of personalization and faster turnaround time.
We believe that by following these eight recommendations from this esteemed group, our industry can truly unlock the value in the precision medicine and personalized treatment space, enabling growth drivers for the future.