Discover Opportunities: Interview
An Exciting Journey: The Art of Turning Science into Sales
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"
Which chance for revenue is often missed by pharmaceutical companies?
Pharmaceutical companies spend huge amounts of money conducting clinicaltrials. However, the trial results often remain in the shadows. As a result, companies fail to get a decent return on their investment.
Why don't companies exploit this golden business opportunity?
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.
What is the typical interaction between medical and marketing professionals?
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 nothave the time and expertise to analyse the marketing prospects ofthis bounty of scientific data.
Who should be responsible for marketing clinical trials?
The marketing and medical marketing professionals includingmedical advisors hold the keys to unlock the wealth of their company's under-utilised research data. By assuming leadershipthey will soon realise the power and the excitement that comes with taking responsibility for communicating clinical trial results.
How cost-effective is the marketing of clinical trials?
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. Marketing trials shouldbe an integral part of life cycle management since they yield a verylucrative 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 marketingstrategy for clinical trials is barely covered in most marketing seminars. So it is mostly learning by doing – an odyssey to acquire the necessary skills. A workshop providing tools and tips would be useful for kick-starting theprocess, thus enabling companies to take full advantage of their medical research data.
What is your final recommendation?
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!
"The success of Adalat serves to demonstrate how good management of a pharmaceutical brand can maintain sales"
Dennis Kvesic: Journal of Medical Marketing, 2009
Opening doors to the hidden treasures of clinical research data:
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