With disease and illnesses impacting different populations across the global spectrum, R&D investments are on the rise as biopharma and biotech companies are trying to find that next blockbuster drug. The gamble is that the next big blockbuster will not only improve the lives of the patient, but also allow the investment community. Here are 4 tips to ensure a quick go to market strategy for your next blockbuster drug.
Focus on scaling up to production:
Even when you are in the preliminary stages of commercialization, it can be hard to think that far in advance. In reality, scaling up to production can come quicker than you anticipated. It can be difficult to forecast the demand of raw materials as you are in different phases of your operations. Using a partner to handle your supply chain can help advance your timeline. Your supply chain partner can take on that key role in your organization to help ensure there are no capacity constraints, issues with raw materials, or other operational bottlenecks.
Ensure you have alignment with quality:
It’s no surprise that quality is a big deal in the pharma world and most think that it is common sense. Internally, quality can be complete chaos when trying to keep track of activities. Centralizing as much quality documentation you can to one source will help you minimize risk and increase efficiency.
Qualify a second source for products:
This may be counter intuitive, but qualifying a second source for certain products can actually save you money in the long run. If something goes wrong with a product, you can mitigate the risk of shutting down your operations, which can save you a lot of headaches and money.
Partner with the right people:
There are so many different options for products and services. When making your decisions, make sure you are partnering with the right partner’s that will easily flow into your business and processes. It is important to know what critical role each of your supply chain partners plays in both reliance on products and services. Those parameters that have the most inherent risk need to be evaluated with minimizing that risk to acceptable levels.