Pharmaceutical commercialization is the goal of every drug development process. After a new medicine is created, it needs to be mass-produced and distributed to the market, from individual consumers to pharmaceutical providers.
Of course, launching a new drug to the masses is a costly endeavor; it takes a lot of time, money, and resources; plus, it brings with it a lot of risks. For more supported, efficient, and secure commercialization, drug developers may employ pharma commercialization services, which can involve outsourcing the launch process or employing pharmaceutical software like Navigator Business Solutions’ SAP Business ByDesign for Life Sciences.
Understanding the Pharma Commercialization Process
The development of a drug is a multi-step process that involves research, development, and review before a launch. Here’s a step-by-step overview:
Research and Development
After determining a medical issue that requires drug treatment, the pharmaceutical company begins its research. This involves recognizing genes and proteins connected to the disease and identifying new molecules that can combat it. Once these have been established, development starts using information from early testing stages (clinical trials and case studies).
Testing
Once a drug has been developed, it can then enter the testing phase to check if it produces the desired results. Testing is divided into pre-clinical and clinical stages. In the preclinical stage, the drug is tested on animals.
In the clinical stages, the drug is tested on volunteers at increasing quantities and durations. In this step, it’s helpful to employ pharmaceutical enterprise resource planning (ERP) software like SAP Business ByDesign for clinical trial supply chain optimization and accurate test documentation.
Review
After testing, the drug is sent to the Food and Drug Administration (FDA) in a New Drug Application (NDA) along with all the information obtained from the previous phase. If the drug proves to be safe and effective for intended use, then it’s approved for commercialization.
Commercialization
The pharmaceutical company can now bring its drug to the market, and just like with any introduction of a new product or service, having an effective commercialization strategy is crucial. Typically, it should start with education, especially among those in the medical field, like hospitals, health providers, and medical administrators. Building a relationship with these stakeholders will make it easier to distribute the drug and make it more accessible to patients.
It’s important to note that commercialization isn’t a one-off process. It continues even after the drug is on the market. For the product to achieve long-term success, these strategies must be sustainable and adaptable, so that the product continues to be relevant in the future.
Outsourcing Pharma Commercialization
Many pharmaceutical companies, particularly smaller organizations, may outsource their pharma commercialization process to providers of relevant services. This is often the best solution for them since the alternative is out-licensing or having their business acquired by bigger pharma groups. The success of pharma commercialization services lowers the risk of entering the market, making this route a very viable option.
Outsourcing pharma commercialization can improve drug development, decrease time-to-market, and optimize distribution and fulfillment, among other benefits.
What Are Pharma Commercialization Services?
Pharma commercialization services are the resources and solutions that third-party organizations provide to pharmaceutical companies to aid in their commercialization efforts. Here are some of the common services offered:
Technology Transfer
Some providers give pharma companies the resources to bring their products to their target markets. They can provide robust systems to optimize supply chains, execute deliveries, manage product life cycles, and generate insights. Additionally, they can offer access to relevant industry information.
Manufacturing and Packaging
Pharma commercialization services can provide companies with commercial manufacturing tools, whether it’s production space or equipment. They can also offer packaging solutions to ensure that new drugs use high-quality, low-cost packaging that contains all the pertinent information required by regulations.
Compliance
With their experience in pharma commercialization, providers can better help you stay compliant with regulatory and legal guidelines. Plus, they have the tools necessary to aid in your analytical studies so you can ace all drug distribution approvals.
Pharma ERPs for Commercialization
A great way to manage and improve pharma commercialization within your company (i.e. without the participation of third-party providers) is to employ an ERP software like NBS’ SAP Business ByDesign for Life Sciences. This product can help you run your entire commercialization process, while keeping every aspect of it integrated into a single system, enabling transparency and communication within your organization.
Get in touch with NBS today to learn more about how SAP Business ByDesign for Life Sciences can help you with putting your drug on the market.
