Pharmaceutical companies launch new products for two fundamental reasons, new products drive growth and growth drives valuations. But consistent growth has never been harder to come by. The decreasing tenure of companies in the S&P 500 Index is an indication of this. The 33-year average tenure of companies in 1964 declined to 24 years by 2016, and is projected to shrink to just 12 years by 2027. More than ever, companies must understand the levers that accelerate growth and put their shoulders behind them.

New drug launches are the most important event in the lifecycle of every brand. They establish a trajectory that's hard for companies to change. In fact, the majority of drugs that underperform in year one, underperform in subsequent years. The takeaway is that we rarely get a second chance to make a good first impression. Despite this knowledge, new products fail at the stunning rate of between 36 percent and 66 percent, depending on the study.

The Secrets of Successful Drug Launches exposes the hidden reasons why. In doing so, it reveals that the most common causes are the hidden traps in human decision making. When redundant and secondary causes are stripped away, there are essentially six root causes of new product launch failure. They include 1) insufficient relative advantage, 2) late market entry, 3) incompatibility with perceived needs, 4) unrealistic launch forecasts, 5) underinvestment in preparing the market and 6) a lack of valuable follow on indications.

This book offers leaders proven mental models to successfully navigate these challenges. It also exposes the most common tactical and organizational traditions that undermine our success. Filled with colorful examples and personal stories, this audiobook will help you master the best of what others have already learned.

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.