Collaboration seeks to revitalize drugs approaching the end of product lifecycles
By Mia Burns
Product development and technology consultancy firm Cambridge Consultants has collaborated with Clinigen Group to launch a new way of identifying fresh market applications for drugs nearing the end of their product lifecycle.
Cambridge Consultants built an acquisition database of 4,000 drugs. The company then screened and ranked them as part of a six month project. Cambridge Consultants identified 150 to180 potential targets. The next step was to create a shortlist of 20 hospital only drugs that would be suitable for more detailed commercial discussions. The process included the analysis of clinical data and interviews with key opinion leaders.
Kate Hudson-Farmer PhD MBA, senior consultant, strategy, global medical technology division told Med Ad News Daily, “Cambridge Consultants uses similar expertise for similar projects in this space for other clients, the work we do varies depending on their needs at a particular time. The databases we build are bespoke for each individual client’s needs. For Clinigen, our focus was the hospital sector, but we have, for example, worked with another client in the inhalation space, repurposing drugs for inhalation.”
In addition, Clinigen has identified numerous product opportunities from the acquisition database, and several of them are being pursued actively. “Identifying new drugs is vital to our unique business model and our mission to supply the right drug to the right patient at the right time,” said Clinigen CEO Peter George. “Working with Cambridge Consultants allowed us to ensure we developed the most robust and effective process that speeds up decision making to identify drugs to license and bring to market faster with consistent and measured market analysis.”
Regarding the remaining 160 potential targets, Hudson-Farmer says, “Cambridge Consultants is not a pharma company, our assignment was in the strategic marketing space to design this bespoke database of targeted end of life cycle drugs for our client Clinigen. After the completion of our work, any plans for the remaining potential targets are down to Clinigen.”
As Clinigen is a global company, the opportunity is not constrained to any particular geography as the company pursues opportunities surrounding end of lifecycle drugs, Hudson-Farmer told Med Ad News Daily.
Posted: July 2013
Recommended for you