How a Pharmaceutical Company Proactively Introduced Novel Nonalcoholic Steatohepatitis (NASH) Therapeutics Products & Increased Their Revenue?

One of the major companies in the pharmaceutical industry aimed to expand its product portfolio by entering into the production of the nonalcoholic steatohepatitis (NASH) therapeutics product. With a new product in the production stage, the company intended to understand strategic ways to of inducing the new product into the market and increase revenue and thus approached Research Nester.

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An overview:

1

A leading pharmaceutical company from the Netherlands, maintaining a strong market share, backed by its long-running successful business history, needed a product portfolio of its new nonalcoholic steatohepatitis (NASH) therapeutics product.

2

The organization had the goal to increase its market share by the end of 2022 and position itself as the highest shareholding player in the field with this novel product.

3

Research Nester offered its product portfolio solution, which encompasses intricate research about the product, and geographical business landscapes, and helped the company decide the right time, and place for the introduction of the new product and increase revenue and market share accordingly.

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The Story

The company aims to put its shoes into nonalcoholic steatohepatitis (NASH) therapeutics products for the expansion of its business. The company wants to bring diversity to its product portfolio by adding drugs that are used for treating nonalcoholic steatohepatitis (NASH). NASH is a disease that advances gradually and brings other abnormalities as well. Therefore, designing a drug that does not worsen the situation of the patient is a huge challenge.

  • The company aims at targeting nonalcoholic steatohepatitis (NASH) along with fatty liver problems.
  • Owing to the gradual changes in the condition of the patients, makes it is very difficult to find the perfect formulation that does not cause other problems
  • To achieve this goal, detailed research and development is required, that gives the understanding of the market requirements

To step ahead in the global market of nonalcoholic steatohepatitis (NASH) therapeutics, the company confided its trust in Research Nester, which is one of the top service providers, eminent in strategic market research and consulting. Over the course of 4 months, the company has announced the line of NASH drugs. With the consultation from Research Nester, the company witnessed the successful trials of the products and approval grants for the same.

The Solution:

Launching nonalcoholic steatohepatitis (NASH) therapeutics requires huge investment and intensive research and development, as the formulation of the drug varies with the intensity of the NASH.

  • In collaboration with the company, Research Nester focused on brand research for nonalcoholic steatohepatitis (NASH) treatments by learning about the major players in the market globally and examining how consumers reacted to the product. The company was advised to choose a different geographical landscape for the introduction of this novel product.
  • The nonalcoholic steatohepatitis (NASH) therapeutics market is comprised of roughly 10 main competitors, and Research Nester's study includes a thorough analysis of each of them. This gave insight into the level of competition in the global market for nonalcoholic steatohepatitis (NASH) treatments. Research Nester suggested the company include newer and innovative parameters to its product. This will help the NASH therapeutic product to stay unique in the market.
  • In its research, the Research Nester team made predictions about the expansion of pharmaceutical products for nonalcoholic steatohepatitis (NASH) therapeutics for the years 2020-2022, which served as a road map for the business. Research Nester also shared the forecasted report which included the way the company could save the cost of R&D and make the product more intense.
  • In the current market there are no approved therapies that are designed for curing NASH, therefore to enter such a competitive and hard-shelled market is a huge challenge itself. So extensive research was underlaid that helped the company understand the nuances of this silent disease and the market. Major changes were since incorporated into the R & D development of the drug.
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Results

Utilizing the unique product portfolio, Research Nester could understand the average market demand for the company’s new NASH therapeutics products. This helped the company to develop effective marketing and supply chain strategies and optimize processes. This was seen to lead the company to witness an increased market share to 54% during CY 2022 from its market share in CY 2020 of 47%. The company also collaborated with other major companies to cut off the cost of research and development

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Swara Keni

Head- Global Business Development

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