How product managers in pharma companies innovate

Meet Sarah, a 35-year-old woman who has been struggling with chronic migraines for months. Despite trying various treatments, from over-the-counter painkillers, she continued to suffer. That is, until she went to a doctor who prescribed her a new medication that had recently been launched in the market. This new medication not only significantly reduced her problems but also had fewer side effects. In this case, what went behind the scene is a dual case of how pharmaceutical companies continuously establish a brand and market the latest drugs. 

The fact that many people still go for a common brand of paracetamol to reduce pains is an aftermath of successful execution and branding by a product management department (PMD). And the fact that there are latest solutions in the market and doctors are prescribing is also a continuous process managed by pharma companies. This is where product managers play a crucial role. To have a closer look, this writer talked to several industry insiders and gained the below insights.

The role of product managers in pharmaceutical companies is much more composite and complex than other sectors' brand managers as the sector itself is sensitive and comes with greater risks and challenges. For instance, for most drugs, the pharma companies can't promote directly to a mass audience. Furthermore, the target segments of each drug can be niche and fragmented. For example-- a snack brand can cater to multiple demographics but the majority of drugs have niche customers. In addition to that, marketers in PMD need to have thorough scientific knowledge about the drugs and therapeutic area they are working on and understand the medical needs of both patients and healthcare providers. 

Saiful Islam, product manager at ACI Limited, says, "The fundamentals of marketing remain the same whether the product is pharmaceutical or FMCG. But there are many distinctions. In FMCG, products are typically promoted to end users, whereas in pharma, products are typically promoted to doctors and healthcare providers who are not end users." 

Saiful shared that PMD needs to take innovative methods to communicate, create subtle cues as well as strong visual materials, and design innovative campaigns for customer interactions. He adds, "This market is extremely competitive. The customer base is limited. As a result, maintaining consistent support from prescribers is always a challenge. Information is limited and promotion is restricted, it is difficult to keep your promotional activities in focus." The key to succeed in this sector is to learn from the variety of marketing experiences and outcomes. 

Talking about innovation, Saiful shares that PMD innovates in various ways such as variation in tablet size, capsule strength, dissolution, release profile, taste, or any other area where there is a market gap and a USP can be gained. For example, ACI recently received the brand forum's innovation award for its preparation of Hexicord. It is for newborn babies' umbilical cords. ACI's formulation was unique and highly effective. It was a fantastic innovation for Bangladesh. One has to keep in mind that innovation is a continuous process, Saiful mentions. 
 

Saiful adds, "Although there are limitations to direct brand promotion on social media, Covid-19 has shown us numerous options. Brands can benefit from raising awareness about any issue. For example, we might promote a video about stroke awareness and might use our brand logo there. We also hold social media discussions with doctors in order to promote our products." 

Discussing unique perspectives that are important to this role, Qazi Ashrafur Rahman Abir, product manager at Renata Limited, another prominent Bangladeshi company, says, "You must think like a consumer and consider what you would desire from a product to understand marketing."

He shared that product managers focus on unique value addition to compete with other competitors and that needs to be properly communicated to doctors as well as the sales force. 

"For instance, Rosuvastatin is made by various brands; how do we add value to our product to differentiate it from those of our competitors? By stating that we use raw materials that are US Food and Drug Administration approved and clinically tested bioequivalence. Hence, the therapeutic effects of our product and the original products are equivalent," shares Mr Qazi. 

Talking about innovation Mr Qazi shares, "Max Pro is a prime example; we include SQR codes in our packaging so that customers may scan them to verify the products' authenticity. This kind of small step gives us an advantage to stand out in the vast pharmaceutical industry."

Product managers must stay true to certain rules and responsibilities that are associated with drugs and medicine. They must analyse the global market to determine what new therapeutic options or treatments are available and then bring them to the local market with DGDA approval.

He also mentioned that they have a portfolio where they keep track of how various brands perform.  He primarily works on the cardiovascular portfolio, where he analyses if doctors recommend his medications, as doctors are their primary source of reaching out to customers and he also monitors feedback. Their promotion strategy is more doctor-centric and awareness focused. 

AHM Mohidul Kabir, manager at product management department of Allied Pharmaceutical Limited, says, "In Pharmaceutical marketing there is a sentence: 'Learn and earn'; Every day you will learn something or you will be experiencing a new challenge."  He adds, "This is a knowledge-based marketing strategy in pharma. So, first and foremost, PMD personnels have to be patient. Branding takes time. However, there are numerous opportunities starting from identifying key opinion leaders (KOLs) and promoting the product to them to participating actively in various doctor-related programs. It is critical to research and provide current information to doctors. Managers can also engage in focused CSR activities. But product quality is undoubtedly more important than promotion."

Communication and interpersonal skills are not just important but critical for product managers in this sector. AHM Mohidul shares,"I faced a critical issue in my career a few years back where I created the launch strategy for a new product. Our factory confirms that the commercial batch is ready to deliver throughout the depot. However, we discovered that the product formulation was not yet stable. As a result, I had to cancel the entire programme. This is one of the reasons constant communication and good relationships with all relevant departments is required."

Industry insiders believe that product management activities are associated with knowledge, skills such as leadership, communication and strategic thinking, and creativity that will help one excel in PMD of pharma companies. Managers and executives do all sorts of brand planning, forecasting and budgeting, designing promotional activities, and maintaining relationships with healthcare providers while working on product development and training their sales force. One can say this role is challenging yet fulfilling due to the learning curve it offers and product management department is an area where graduates from pharmacy and related backgrounds have a clear edge, given that they grow the other skills shared by the industry leaders. 

The writer is studying pharmacy in her final year at Independent University, Bangladesh. 
rounak.marium@gmail.com