How you can realise the true medical and commercial potential of medical research results: Interview with Management Centre Europe Faculty Member Dr. Günter Umbach, author of "Successfully Marketing Clinical Trial Results: Winning in the Healthcare Business" (revised in 2020)
Pharmaceutical companies spend huge amounts of money conducting clinical trials. However, the trial results often remain in the shadows. As a result, companies fail to get a decent return on their investment.
There are two main ways that this opportunity slips through their fingers.Some companies fail to recognise clinical trials as part of the value chain. Other companies are simply untrained in realising the full impact of trials on revenue.
Many medical professionals feel they have accomplished their mission when theclinical trial is completed on time and on budget. They write their study report and that's the end of it. The marketing professionals receive an extensive study report replete with hundreds of tables - without any further explanations. They do not have the time and expertise to analyse the marketing prospects of this bounty of scientific data.
The medical affairs, especially medical advisors and medical science liaison managers hold the keys to unlock the wealth of their company's under-utilised research data. By assuming leadership they will soon realise the power and the excitement that comes with taking responsibility for communicating clinical trial results.
It is a very cost-effective way to drive product sales because you cancapitalise on the groundwork the medical department has already laid out. I never understood why some companies balk at the idea of spendingthe extra money for an appropriate marketing campaign after having spent so much money on conducting the trial. The communicaion of scientific results should be an integral part of life cycle management since they yield a very lucrative return on their investment.
Where can you learn to tap into the full commercial value of trials?
The topic of how to mastermind and implement a winning strategy for clinical trials is barely covered in most seminars. So it is mostly learning by doing – an odyssey to acquire the necessary skills. A workshop providing tools and tips is useful for kick-starting theprocess, thus enabling companies to take full advantage of their medical research data.
Start shedding more light onto your scientific data.Move out of your comfort zone and start to benefit from your existing trial results: Turn science into sales!
Print Version of Original Interview »
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