Rx to OTC Switch Corporate Strategy
The OTC division of a large pharmaceutical company wanted to accelerate OTC growth through an aggressive switch strategy, but needed help in developing its strategy and switch pipeline, and in gaining management support.
- Are there enough attractive switch candidates available to us, internally and externally, to justify a switch-focused growth strategy?
- If so, which opportunities should we explore in the near-to-medium term?
- How can we convince senior management to invest in switch?
- How do we position ourselves as the best marketing partner for external switch opportunities?
Our Approach and Output
- Phase 1: Switch Strategy and Prioritization
- Developed market assessment and switch landscape analysis to provide competitive context
- Identified and prioritized potential switch candidates based on switch feasibility
- Identified range of potential switch strategies, and supporting hypothetical pipelines, based on internal and external considerations
- Led team in scenario planning to develop assumptions for modeling
- Modeled alternate strategies to determine risk adjusted revenue and profit potential
- Analyzed internal client switch capabilities and gaps, providing recommendations for organizational structure and staffing requirements/phasing
- Developed management presentation supported by risk adjusted assumptions
- Phase II: Partnering and Pitch
- Optimized client's partner presentation for specific high priority external opportunities
- Developed prototypical marketing plans for switch of specific products to highlight client's insight and commitment
- Obtained management agreement to strategy, pipeline priorities and funding
- Client selected as partner on highest priority switch opportunity
"There was so much to do, we didn't know where to begin. We would have been nowhere without NCI's switch expertise and manpower. We especially appreciated the way you worked with us, step by step, training our team in the process. We are on our way!"