Product commercialization for U.S. biotechnology company
A privately-held biotechnology company, founded in 2001, is focusing its future product strategy on a novel diagnostic radiopharmaceutical product with applications in oncology and cardiology. In oncology today, PET imaging with FDG is the current “gold standard” for diagnosing and staging metastatic cancers. This new product is an alternative to PET FDG, providing functional metabolic imaging on an alternative modality, SPECT cameras. Its targeted mechanism of action also has cardiovascular applications in the diagnosis and ongoing management of patients with CAD or heart failure.
Challenge
The biotech company engaged A.T. Kearney to better understand the sales potential of its product as an alternative to other radiodiagnostics in the oncology and cardiovascular markets in the United States.
Approach
Applying a fact-based approach, A.T. Kearney developed an objective forecast of the product’s market opportunity. Client workshops were conducted to validate the underlying assumptions and to facilitate a discussion of potential paths to market, out-license partners, and deal structures. A.T. Kearney’s deep experience in product commercialization ensured a thorough evaluation of paths to market and partnering, while an analysis of previous diagnostic deals formed the basis of its recommended deal structure. The team found that successful commercialization depended on the company’s ability to differentiate its product in three ways:
- Strong clinical development program
- Access to reimbursement
- Brand marketing
In close collaboration, the biotech/A.T. Kearney team developed detailed strategies to address these three key issues.
Results
Based on agreed-upon assumptions about competitive behavior and market demand, A.T. Kearney tested multiple scenarios to develop a robust sales forecasting and pricing model, and deal structure. This work provided crucial direction to the biotech’s strategy at a critical point in the company’s development.
Contact
Mike Wise, A.T. Kearney partner and lead for the Americas Sustainability Practice
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