As the results of Novartis’ clinical trial of heart drug LCZ696 were published, we witnessed a striking demonstration of the value of good clinical data. Shares jumped in price by several percentage points, instantly adding billions to the value of the company.
In comparison with the standard treatment, Novartis’ compound was shown to cut the risk of cardiovascular death and hospitalization by around 20%, a startling result that increased the (already very high) peak sales projections by over 50%.
While clinical trials don’t always produce such encouraging results, there’s a lot that pharma and medical device companies can do to make the most effective use of their evidence.
Leverage your evidence to promote market adoption
Leveraging clinical and economic evidence is really the main purpose of our value communication platform. One of the unique selling points of BaseCase Interactive is that it removes barriers to the effective communication of health economic evidence, from the HEOR team right through to the customer-facing key account managers.
Instead of presenting evidence in the form of abstract clinical papers or spreadsheet models, the HEOR team is able to implement their health economic model in a format that’s accessible and easily understood by non-technical staff, inside and outside of the business.
On the customer-facing side, input from branding and commercial teams can ensure that the presentation will capture the attention of the client and that the value story can easily be tailored to their particular population, so the results are relevant to them.
This kind of cross-functional collaboration is encouraged by two key aspects of the platform.
Our aim is to make it possible to really leverage your evidence and promote market adoption to the fullest extent. What we’ve found is that this process must begin internally, with rapid deployment of evidence, and fluid communication between both departments and countries. With the right internal processes in place, and the right tools to communicate externally, market access teams can ensure sure that they realize the full value of their product.