Defending Market Share in Pharma
Posted by | Fuld & Company
Pharmaceutical firms frequently need to defend their market position against rivals’ competitive strategy. Threats to leading therapies can come in many forms:
- A structurally similar compound or generic variant is entering the market, aiming to compete with your brand on efficacy, safety, or price
- A drug with a new mechanism of action has generated considerable excitement, and patients are expected to switch to the novel drug
- An established product in a related indication may be moving into your market due to a label expansion
- An existing competitor has begun targeting your product with negative claims
Competitive intelligence (CI) and strategic planning provide pharmaceutical firms with actionable counter-measures to protect market share, retain customers, and minimize the impact of aggressive direct competition.