Impact of Incorrect Forecasts on New Product Launches
Pharmaceutical companies around the world are under tremendous pressure—from regulators, legislators, payers, and patients—to reduce the cost of drugs. In response to the outcry for cost-cutting, pharmaceutical company leaders are examining every aspect of their business to determine where they can derive savings, particularly when planning for the launch of a new product.
Pharmaceutical company marketing executives have become more accurate in positioning their new product in the marketplace, profiling prescribers, and understanding and responding to the reimbursement landscape. What is still a quagmire for pharma companies is predicting the actual demand for products and the timing of that demand.