A trade-off you no longer have to make in this changing world
COVID-19 and the resulting impact on access to healthcare professionals (HCPs) has been a catalyst for healthcare organisations to re-evaluate their go-to-market models and investment choices. We understand the tough decisions being made and the trade-offs around promoting valuable established brands versus new products. This is precisely the point at which you will feel the benefit of the Star OUTiCO Product Fostering offering.
Many of our partners have difficult choices to make on where and how spend is allocated across a portfolio of products in this changing healthcare environment. We are seeing promotional weight typically being allocated to newer brands, often at the expense of medicines that continue to offer value to both patients and HCPs alike.
‘75% of pharma executives said opportunities are missed to grow established products before loss of exclusivity (LOE)’1
Our Product Fostering service enables our partners to maximise sales across their portfolio without the need to make trade-offs. Leveraging our scale and expertise, Star OUTiCO ‘foster’ a product and assume full responsibility for sales and marketing, and other functions, allowing our partners to focus on other strategic priorities while still enjoying portfolio sales growth.
The commercial model underpinning the Product Fostering service is powered by a unique stock purchase mechanism that mitigates impact on our partners’ P&L, and works across existing supply chain arrangements. Our experience of deploying intelligent, tailored, blended multi-channel and digital HCP engagement programmes has made a positive impact on both primary and speciality care fostered brands and our broad base of partner case studies illustrate the sales growth that can be achieved.
“In Star OUTiCO, we found a partner we could trust to continue providing the commitment and support our patients and clinicians deserved. Star OUTiCO delivered beyond expectations, successfully steering a mature brand through particularly challenging COVID-19 times.” Business Unit Director, top 10 pharmaceutical company
As with all of our services, data and insights are generated and leveraged at every opportunity. In this way, partner risk is minimised and our digitally-enabled commercial strategies are flexible and dynamic in order to achieve maximum value and patient benefit.
1 Established Brands Strategy Survey. Clinical Cube Data on File. 2019.
To discuss how the Product Fostering model can make an impact on your brand’s sales growth please contact us on: firstname.lastname@example.org, or call Ryan on 07748 464 079.
Ryan Wooller is Business Unit Director – Brand Fostering at Star OUTiCO