Market research is critical to reveal a brands' potential

Timely investment in market research is key to revealing a brands' true market potential, according to a study by Cutting Edge Information, a USA-based pharmaceutical intelligence specialist. The report argues that early identification of an unmet need will give companies a better chance of adapting their product to address that need, and therefore, the best chance of success in the marketplace.

Cutting Edge based its conclusions on a survey of six products currently in Phase IIIa/IIIb assessment, including drugs being developed by Abbott Laboratories, AstraZeneca, Johnson & Johnson, Novartis, Pfizer and Schering-Plough. The work revealed that, during Phase IIIa, the profiled firms spent an average of 17% of their launch-year budget on market research, increasing to 18% in Phase IIIb. The company added that this research provided information on patient subgroups, doctors, nurses, caregivers and payer organizations.

Cutting Edge cited the expenditure of $2.0 million and $3.0 million by two of the survey firms as examples of key market research. The analysts explained that this investment had identified a strong need for improved dosage convenience for one brand, while the other firm's research led to the development of an improved drug delivery system to address patient requirements. The full report is available on-line at: http://cuttingedgeinfo.com.