9 Common Challenges for Existing Co-Promotions
Successfully optimizing co-promotional agreements relies upon governance, brand management, and performance management. Yet, despite good intentions from each party, challenges can arise in a co-promotional agreement that threaten its longevity and overall success. In our experience, preventing or overcoming challenges in existing co-promotions usually requires assistance from a third party like RxC International. Below are the nine most common challenges we have encountered during our extensive experience with co-promotion programs.
Optimizing Co-Promotion Effectiveness
As the complexity and investment for successfully marketing a prescription drug or biologic rises, many companies seek to de-risk their commercialization effort by joining forces with a partner biopharma company. Co-promotions, or the formal relationship established between two companies to combine resources for a more effective promotion of a product, are becoming increasingly common in the biopharma industry. While co-promotions are structured with the right intent, these agreements require careful consideration of several key strategic and operational issues in order to achieve optimal effectiveness.