The R&D Marketing Interface in Biopharma and MedTech
AbstractThis article highlights the importance of building a marketing led cross-functional team that integrates the R&D, and commercialization process in an early stage Biopharma and MedTech company. Marketing should play a prominent role in the cross-functional team at the earliest stages of company formation and product development to identify unmet need, design the development plan, shape the product life cycle, position the product in the competitive set, and understand all market drivers and competitive factors that are essential to ensure commercial success. In particular, in this paper, the focus is on the importance of creating an appealing target product profile (TPP) and describe the rational and methodology for creating the TPP. Drug development is a high risk, high cost, high reward undertaking, and the TPP provides a market-guided approach to development of drugs more quickly, inexpensively, and with a higher rate of success.
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