OK, I am an inVentiv Rep and will not be retained (but not for lack of effort).
I have some sweat equity invested in XXR and am sorry for everyone involved that it has not attained the rosy forecast projections.
I have been a part of numerous successful product launches for other organizations and this is my (or collective we) first failure.
Here is what could be done to market this drug successfully or be applied to MNK 155:
Invest in direct hire reps and train and compensate them properly. Legacy reps have a vested interest in the ongoing and long-term success of an organization. Career advancement opportunities motivate reps and the whole "contract" mindset undermines commitment to the organization and the reps alike.
Secure competitive formulary status on Medicare, Medicaid and Commercial plans. Obviously this means lowering your profit margins but you're competing in a heavily genericized, scrutinized and regulated therapeutic category. Every managed care plan will cover generic Percocet. HCPs don't even have to think about it. In my state, only 1 commercial plan covered XXR without a Prior Authorization. Emphasize coverage on regional and local health plans to gain traction.
Invest in some meaningful clinical studies that differentiate XXR or MNK 155 from generic options. The pharmacokinetic overlay graphic showing the roller-coaster serum levels of Percocet (dosed every 4-6 hours) vs XXR dosed BID that tells an impactful story. Take it a step further by doing a G.I. study showing the increased rates of nausea with Percocet spiking in the gut every 4-6 hours vs XXR dosed BID with a controlled steady release. The biggest patient complaint with Percocet and other pain meds is nausea and if XXR can demonstrate increased tolerability, with less discontinuation and call backs to the office, you have a differentiator that resonates with HCPs and their staff.
Dedicate a page in an all-inclusive sales aid that articulates the costs of slip and fall accidents associated with patients taking medications that negatively impact their equilibrium. XXR enables patients to sleep through the night and not have to get up to re-dose every 4-6 hours and throw more water on their bladder, which can trigger another reason to get up groggy and dizzy and at risk for a fall).
Establish a competitive pharmacy stocking program with MNK 155 up front with chain and independent pharmacies. Offer a buy 1 get 1 free stock bottle with the ability to exchange any unopened expired bottle for a new one if necessary down the road. For chain pharmacies, ship the free bottle to another high volume location not yet stocked to expand the reach and availability.
Hire some sales and marketing executive talent with extensive experience launching and promoting scheduled pain medications. Your existing executive team blew it for XXR before it was even launched. Time to clean house and poach some talent away from Purdue or wherever they have had documented success in the core MNK therapeutic categories.110% sales goals, new target lists every quarter (can ZS Associates), 4 sales aids to tell the story, no web on-demand sales/education site for the no-sees of the world, Regional Managers encouraging reps to stalk surgeons in parking lots at 5:30 a.m. and p.m. or to work on Saturdays...absolutely amazing direction coming from six-figure compensated executives.
These are but a few of the issues/challenges/opportunities. I am sure to be ridiculed and scorned and will enjoy viewing any other constructive criticism/suggestions. It's time to move on but I have genuine remorse for a drug and organization that I had high hopes for but collectively fell short. I was getting scripts until they were immediately bounced because of a lack of insurance coverage and patients found it too challenging to find a pharmacy stocking it. Docs and their staff found it too much of a hassle to continue to prescribe XXR and shut it down rapidly. MNK needs to have all the pieces of the puzzle in place to successfully compete in this hyper competitive pain category dominated by generics and cost concerns.
Let the arrows fly and dead wood comments begin...
P.S. Good luck and best wishes for continued success for those who found a way to attain their numbers! Your relationships, hard work and M/C coverage obviously made a difference.
I have some sweat equity invested in XXR and am sorry for everyone involved that it has not attained the rosy forecast projections.
I have been a part of numerous successful product launches for other organizations and this is my (or collective we) first failure.
Here is what could be done to market this drug successfully or be applied to MNK 155:
Invest in direct hire reps and train and compensate them properly. Legacy reps have a vested interest in the ongoing and long-term success of an organization. Career advancement opportunities motivate reps and the whole "contract" mindset undermines commitment to the organization and the reps alike.
Secure competitive formulary status on Medicare, Medicaid and Commercial plans. Obviously this means lowering your profit margins but you're competing in a heavily genericized, scrutinized and regulated therapeutic category. Every managed care plan will cover generic Percocet. HCPs don't even have to think about it. In my state, only 1 commercial plan covered XXR without a Prior Authorization. Emphasize coverage on regional and local health plans to gain traction.
Invest in some meaningful clinical studies that differentiate XXR or MNK 155 from generic options. The pharmacokinetic overlay graphic showing the roller-coaster serum levels of Percocet (dosed every 4-6 hours) vs XXR dosed BID that tells an impactful story. Take it a step further by doing a G.I. study showing the increased rates of nausea with Percocet spiking in the gut every 4-6 hours vs XXR dosed BID with a controlled steady release. The biggest patient complaint with Percocet and other pain meds is nausea and if XXR can demonstrate increased tolerability, with less discontinuation and call backs to the office, you have a differentiator that resonates with HCPs and their staff.
Dedicate a page in an all-inclusive sales aid that articulates the costs of slip and fall accidents associated with patients taking medications that negatively impact their equilibrium. XXR enables patients to sleep through the night and not have to get up to re-dose every 4-6 hours and throw more water on their bladder, which can trigger another reason to get up groggy and dizzy and at risk for a fall).
Establish a competitive pharmacy stocking program with MNK 155 up front with chain and independent pharmacies. Offer a buy 1 get 1 free stock bottle with the ability to exchange any unopened expired bottle for a new one if necessary down the road. For chain pharmacies, ship the free bottle to another high volume location not yet stocked to expand the reach and availability.
Hire some sales and marketing executive talent with extensive experience launching and promoting scheduled pain medications. Your existing executive team blew it for XXR before it was even launched. Time to clean house and poach some talent away from Purdue or wherever they have had documented success in the core MNK therapeutic categories.110% sales goals, new target lists every quarter (can ZS Associates), 4 sales aids to tell the story, no web on-demand sales/education site for the no-sees of the world, Regional Managers encouraging reps to stalk surgeons in parking lots at 5:30 a.m. and p.m. or to work on Saturdays...absolutely amazing direction coming from six-figure compensated executives.
These are but a few of the issues/challenges/opportunities. I am sure to be ridiculed and scorned and will enjoy viewing any other constructive criticism/suggestions. It's time to move on but I have genuine remorse for a drug and organization that I had high hopes for but collectively fell short. I was getting scripts until they were immediately bounced because of a lack of insurance coverage and patients found it too challenging to find a pharmacy stocking it. Docs and their staff found it too much of a hassle to continue to prescribe XXR and shut it down rapidly. MNK needs to have all the pieces of the puzzle in place to successfully compete in this hyper competitive pain category dominated by generics and cost concerns.
Let the arrows fly and dead wood comments begin...
P.S. Good luck and best wishes for continued success for those who found a way to attain their numbers! Your relationships, hard work and M/C coverage obviously made a difference.