First Product Commercialization
Many start-up biotech companies work hard to gain market approval from the FDA, and a lucky few bring a New Drug Application (NDA) or Biologics License Application (BLA) filing to conclusion before funding runs out. A small venture capital funded biotech successfully navigated through the complex drug approval process and received approval to market its first product.
However, the company soon realized it was completely lacking in plans and capabilities to support the commercial launch of its new drug. Worse still, shareholders were placing intense pressure on this small team of researchers to get the product launched quickly so that shareholder returns could begin to be realized.
The client turned to NexGen Consulting Group, which helped plan and execute every phase of the launch. NexGen formed and led a multidisciplinary team that brought the product to successful commercialization in a matter of weeks, as opposed to the 12 to 18 months typically required for a commercial launch. Drawing from vast launch experience, NexGen supported activities such as:
Having in-depth experience in all phases of product development and launch, NexGen was able to execute on an aggressive timetable that required many overlapping tasks to be accomplished. This first launch was successful in reaching the market, and the client brought NexGen in to assist with its second product launch. The company is now a leader in its field, having beaten the difficult odds in the biotech industry.