Utilizing the powerful impact of real-time information on drug development and new product launch
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[email protected] 675 VFW Parkway Ste. 273 Chestnut Hill MA 617-901-8676 2 nd International Conference on Market Research in the Mobile World Realizing the Power of Real Time Information for Drug Development and New Product Launch
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Utilizing the powerful impact of real-time information on drug development and new product launchJanet Kosloff - Co-Founder & CEO - InCrowdMatt Grimley - Senior Market Research Manager - Vertex PharmaceuticalsDetermining the key challenges facing commercial organizations when launching a new drug. Evaluating the information needs related to pre-launch, activity product launch and immediate post launch. Utilizing innovative mobile technology for providing real-time access of valuable insights from target audience.
Transcript of Utilizing the powerful impact of real-time information on drug development and new product launch
[email protected] 675 VFW Parkway Ste. 273 Chestnut Hill MA 617-901-8676
2nd International Conference on Market Research in the Mobile World
Realizing the Power of Real Time Information for
Drug Development and New Product Launch
Matt Grimley – Vertex
Senior Market Research Manager, Business Information
10 years in Market Research
Janet Kosloff – InCrowd, LLC
CoFounder and CEO
Founded InCrowd in October 2010
11 years in Market Research, with clinical background
Who we are
• Brief history of Vertex
• HCV overview and treatment history
• Newly approved protease inhibitors
• Major challenges for launching into current HCV marketplace
• InCrowd history and overview
• Case Study – How Vertex is using InCrowd to get an edge
• Keys to success
Outline
• Founded in 1989 by Joshua Boger
• Used advanced computer programs and a structure-based drug design approach to identify lead compounds for new drug development
• Initial goal was to create an anti-HIV drug
• In 1991, Vertex went public and raised $25 million
• In 1998 Vertex discovered Agenerase, a protease inhibitor used to treat HIV
• In 2001, Vertex started clinical trials of a new protease inhibitor to treat HCV. It was fast tracked in 2005 and approved in May 2011.
• To date, Vertex has invested $4 billion in drug discovery and development
*Brief history of Vertex
* http://www.boston.com/business/gallery/inside_vertex/
• Caused by hepatitis C virus (HCV)
• Transmitted through direct contact with blood or bodily fluids of infected individuals
• 180 million chronically infected globally
• 4.1 million chronically infected in US
– Only ~1 million are diagnosed
Hepatitis C overview
• First approved treatment for HCV was alpha interferon (1995)
• In 2001, alpha interferon was replaced by a PEGylated version
• In May 2011, the FDA approved 2 new HCV protease inhibitors to be used in combination with PEGylated Interferon and Ribavirin, one from Vertex and one from Merck
HCV Treatment History
Major challenges for Vertex in launching new product
• Protease inhibitors provide a new treatment option in treating HCV. Potentially representing a shift in the treatment algorithm
• Vertex: 1st branded drug launch into blockbuster market opportunity
• Vertex needs to be innovative and nimble to compete with well established competitors
DIY interface allows easy formulation of questions
Questions sent instantly to “Crowd” (physicians, advisors)
Questions delivered one-at-a-time, via text or email
Each question takes only 1-2 minutes to answer
Results tabulated instantly on client’s mobile or desktop
InCrowd Platform
Sign In
Client Account Page
1,000
650
350
Crafting a Question
1 hour 50
Crowd Selection
Preview Question
Results
Pre-launch
• Test last minute label scenarios
• Test approved label (which was slightly different than previously tested)
• Solidify forecast based on last minute label changes
• Measure the understanding and availability of proper assay testing and tracking
Post-launch
• Get market feedback during the “dark period”
• Test message recall and effectiveness, minutes to days after detailing
• Assess competitor message recall and effectiveness, minutes to days after detailing
• Test actual use in patient segments prior to prescription data availability and more in-depth research studies
How Vertex is using InCrowd to leverage the power of real time information for the launch of its new product:
Case Study: Vertex
Keys to Success in Use of InCrowd Platform
Understand where real time data collection fits into your bag of research tools
Communicate to stakeholders the proper use and limitations
Keep questions concise, focused, actionable and not overly complex
Need to be comfortable with DIY, writing own questions etc.
Presented at:
Market Research in the Mobile World 2nd International Conference | July 19 & 20, 2011 Atlanta
Organized by: Thank you to sponsors:
LinkedIn Group: Mobile MR
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