Before you sign on the dotted line, do a little digging to unearth potential costs that could turn your development program into a cash-burning exercise.
Because of less manufacturing in-house, tighter margins, and a need to focus on specific segments, pharma companies rely on specialized partnerships with contract packaging organizations.
Foil packaging, plain and simple, is the most effective means of immediate shelf differentiation and lift in sales. A high-end looking foil package conveys several things to the consumer: New, Better, Advanced Formula, Superior Product, High Quality, Classy. It also suggests that the other products on the shelf are inferior in some way, of a lesser quality, value or class. “Bling” remains King… When given the choice between two products that otherwise seem the same, consumers overwhelmingly chose the better looking and more visible package.
Choosing the right packager for your products can be a daunting task and one that should not be taken lightly. There are numerous companies that claim to be expert packagers. However, when entrusting an outsource party to serve your supply chain, it is imperative to choose a partner that has a similar culture and shares a similar vision. Additionally, one that employs values and integrity instilling these traits within their associates is invaluable. The following eight elements are a guide to selecting a qualified outsource partner.
Let’s face it, not all pharmaceutical drug launches are blockbusters. Even after carefully modeling the market to forecast potential sales, the underlying data used may prove to have some challenges. Many sales forecasts are based on the idea that the market can be represented as a continuous variable, but this may not be the case for a generic product whose fate may be determined by a single decision on the part of a drug wholesale company.
In fact, patient non-compliance is the fourth leading cause of death in the United States, and the annual cost of non-compliance in the U.S. is estimated to be $317 billion and $125 billion in the EU.
Two years ago, Elaiapharm undertook the packaging of an important new solid dose product (Cipralex, an antidepressant) to be launched across a large number of international markets. The product itself is an ODT – orally dispersible tablet – formulation packed in child resistant cold form blisters.