In the complex world of pharmaceuticals, where drug discovery, development, and marketing involve staggering investments and high-stakes decisions, one question looms large: should pharma companies care about new-to-brand patients? Answering this question could determine whether pharma companies succeed or fail during their market exclusivity phase.
Traditionally, the pharma industry has relied on metrics like new prescriptions (NRx) and total prescriptions (TRx) to evaluate their sales performance. However, as we delve deeper into the intricacies of drug adoption and healthcare physician (HCP) relationships, it becomes clear that these metrics fall short of capturing the complete picture:
Analyzing data about new users of a brand, also called new-to-brand patients, gives pharma companies a significant advantage in decision-making and overall drug performance. In this context, New-to-brand prescription (NBRx) offers a comprehensive look at the influx of new patients adopting a specific drug. Its significance lies in its ability to differentiate and quantify the contribution of new patients to a drug’s success, making it a vital metric in the fiercely competitive world of pharmaceuticals. Axtria has been working with life sciences companies for over a decade and has found that companies segmenting HCPs based only on TRx may lose access to high-performing NBRx writers that can shift to competitor’s products.
Drug discovery, development, launch, and marketing are resource-consuming strategic activities that require pharma companies to spend billions of dollars. When a drug receives approval and enters the market exclusivity phase, the pharma company aims to:
For a pharma company, the most important decisions revolve around new revenue generation during their market exclusivity phase. For this, they usually worry about the following:
Finding new clients, either patients or HCPs, is never easy for a company because of the high costs involved. Both NRx and TRx lag in capturing new patient acquisitions or new healthcare professionals. Relying exclusively on these traditional categories leads to delayed decisions and subpar drug performance.
Including NBRx data offers various benefits, such as the following:
It should be noted that NBRx data also has challenges. Getting reliable data can be difficult, especially when data needs to be aggregated before incentive plan use.1 Pharma companies can reach their desired long-term profit margins by combining NBRx with data from other sources.
NBRx data can be a crucial metric for generating new revenue, enabling a pharma company to stay one step ahead of the competition. Seeing the new-to-brand numbers can also help assess the impact of the company’s most effective marketing campaigns and sales rep promotions. Numerous pharma firms have already realized the advantages of integrating NBRx and TRx in their incentive compensation schemes, allowing their representatives to focus on recruiting new HCPs.
In the ever-evolving landscape of pharmaceuticals, the value of NBRx data cannot be overstated. This data has emerged as the compass that guides pharma companies toward success in their quest for new patients and healthcare providers. By offering a deeper understanding of patient adoption, HCP relationships, and the impact of marketing efforts, NBRx data empowers companies to make informed, strategic decisions that can shape their future. As pharma firms strive to recover their investments, raise funds for future drug discovery, and secure their position in the market, NBRx data has become an indispensable tool. Its ability to differentiate and quantify the influx of new patients and HCPs is critical to unlocking revenue potential and staying ahead of the curve. As the pharma industry advances, embracing NBRx data isn’t just an option; it’s necessary for those seeking to thrive in this challenging arena. So, here’s to the future, where NBRx data will continue to drive innovation, growth, and success in the pharmaceutical world.