When my company, was about to launch two new high proﬁle Oncology drugs, the need for a cutting edge, agile analysis solution was a prerequisite to guarantee success in this competitive market. Verix was chosen after a careful selection process, to support the sensitive and complicated launch process of these specialty products. Before adopting Verix, we invested in several enterprise-wide BI platforms. Alas, outcomes were suboptimal: reporting was slow to deploy, pushing users to create fragmented reports to meet acute needs. Even worse, those platforms were unable to change at the speed of business.
The launch of our new Oncology drugs with Verix’s New Product Launch analytical application became a remarkable success. We enjoyed the clear actionable insights and consolidated view of the business - all based on a single version of the truth across commercial operations. Consequently, we decided that Verix will be the solution of choice for all new launches and gradually will be implemented for all Business Units to replace other BI solutions and enable the company to have one single, effective solution across the entire organization.
Before Verix, we were using 11 different reporting platforms, though the need for up-to-date, relevant, coherent information was not being met. Hundreds of weekly, redundant reports made it hard to reach effective utilization. Reports were fragmented, often conﬂicting; and did not enable actionable insights. Managing drug launches is complicated, with data coming from many sources that need to be integrated into a comprehensive view to understand all inﬂuences – both in-house (sales, marketing, managed markets, ﬁnance, manufacturing) and external (competitive, market, prescribers, Payers).
The ﬁrst three months in any new drug’s life are most critical for its success, requiring constant tweaking of critical components of your strategy, such as promotions, targeting, messaging and pricing. We needed business insights to support decisions of senior management, sales leadership and ﬁeld sales with KPI’s to measure Managed Markets, sales forecasting and call detailing activity. Everything had to support a variety of roles (brand speciﬁc and sales speciﬁc), with appropriate access limitations per role, so people only see what they need. Data sources to be integrated include our in-house Data Warehouse, Veeva (CRM), ProMetrics (Decision Support tool), LASH (rebate optimization tool), CLM, as well as unstructured data, such as Speaker Programs, Finance/Forecasting data, Call Plan, Cardinal (healthcare supplies distribution), Licensing database, Zip-to-territory database, Sales goals, Ecosystems, and Managed Markets metrics.
We deﬁned key criteria to evaluate an analytic solution for the upcoming launches:
Verix helped design speciﬁc needs – KPIs, views, and correlations between various elements. The application monitors the new drug’s performance and how all components of the launch are inﬂuencing one another. Performance is constantly compared with benchmarks and goals: Prescription such as prescription rates, market share, new patients trends, and week on week or month on month growth in market share. Views are tailored to each user - per physician/account/geography/region/patient. Marketing campaigns and Managed Markets contracts information are integrated to analyze interdependencies. Dashboards are deﬁned per user role, so every user sees only what he/she needs to see and isn’t overwhelmed with irrelevant information. Users can drill down to explore underlying drivers and get granular information on performance.
Verix conducted focus groups to understand the exact needs of every user group to be involved in the launch and ensure all requests were incorporated. “Train the Trainer” sessions with representatives from each user group gave further feedback. This attention to detail is one of the secrets behind Verix’s high utilization rate.
Verix is the only product in the market that specializes in Pharma Launches. We felt that it addressed exactly our needs. Verix’s library of pre-packaged life science applications enables notoriously quick implementations. Today, Verix is used by everyone in the company’s commercial operations to make data-driven decisions: Sales, Sales management, marketing, analysts, and managed markets. Reporting is no longer a pain-point, but a solution to empower actionable insights.
After using 11 reporting systems before adopting Verix and being repeatedly perplexed by their inability to keep up with the pace of the business, we feel that the greatest, unique advantage of Verix is agility - implementing endless ongoing change requests within hours or days. The ﬂexibility of the architecture, the design team and the professional services team in the back that easily adapt to any necessary change, fully understanding the necessity for ﬂexible thinking as well as fast implementation. As a result, Verix is substantially more used than any analytical system adopted by us, and at the end of the day, far cheaper.
Verix’s domain expertise in the Life science industry made the implementation ﬂawless. Business rules were transferred with ease, visual components and KPI’s were designed with the users’ needs in mind; special needs of the company’s new oncology drug were easily enabled (e.g. 90 day allocation methodology. Verix implemented this within days, while other systems don’t support such adjustments.)
Previous reporting experiences with other vendors have probably jaded people, and created hesitation to try yet another reporting solution. Seeing Verix in action with our real data crushed all doubt.
The positive experience is inﬂuencing other divisions to adopt Verix as a worldwide standard for our Commercial Operations analytics. By early 2014, four additional teams will implement Verix as their analytics standard. The launch of our new oncology drugs was exceptionally successful. Tracking and monitoring the process from planning to execution was smooth and efﬁcient.
By using Verix’s analytical applications solution, which includes change requests and any needed tweaks and adjustments in the price, we saved over $2.5M a year. Moreover, the real gain is in signiﬁcantly higher usage rate and business value derived from the solution.