In the rare disease space there are few competing brands, which creates a unique opportunity to share best practices. We all face the same challenges—how to determine optimum price, how to assess market size, how to best engage the patient community—and there is great benefit to sharing our collective experiences and knowledge. This is the idea behind our industry-only Innovation Lab events.
More than passive "sit and listen" sessions, these workshops are engaging, interactive events from which attendees emerge smarter and armed with real marketing solutions for their company or brand(s).
Innovation Lab events are by invitation only. If you're interested in attending our next Innovation Lab event, please register now!
Since last fall's edition of the Innovation Lab series at Cavallo Point in San Francisco was such a success, Compass Healthcare Marketers decided to head back there for the Fall 2012 installment. This year's meeting focused on how to provide and receive the right amount of value from each patient you target with your orphan brand. Maximizing patient value isn't such a point of emphasis in more prevalent disease states and chronic-care categories; when you are dealing with such small patient populations there really is no other choice. The spirited and lively discussion at this year's meeting displayed just how important this topic is to the rare disease and orphan drug community. The result of that enthusiasm was another successful Innovation Lab workshop.
As the temperature in Philadelphia soared into the 90s, a blistering series of debates was taking place indoors as Compass Healthcare Marketers hosted the second installment of their Innovation Lab: Great Orphan Drug Debate series. The debate, which was also sponsored by Medical Marketing Economics (MME) and Idis, featured representatives from Genzyme, BioMarin, Enobia, Pfizer, and GlaxoSmithKline who were in town attending CBI's 7th Annual Rare Disease and Orphan Drug Leadership Congress.
In the first debate, "The Value and Influence of Patient Communities: Real or Overrated?," it was argued that patients are not central to a successful commercialization strategy; there are only two critical ingredients to success—data and doctors. The opposing view held that in rare diseases the patient community has enormous influence over the commercial path—and ultimate success—of a product.
The second debate, "Can the Orphan Drug Pricing Model Be Sustained?," addressed the sustainability of current price levels in the rare disease and orphan drug market. While each therapy alone may only be an "unnoticeable" fraction of the budget, when taken together their impact is considerable.
© 2013 Compass Healthcare Marketers®. All rights reserved.