New York, March 27, 2025 (GLOBE NEWSWIRE) -- The Secrets of Successful Product Launches
No matter how you look at it, it’s hard to argue that our new product development methods are working. New products fail at the stunning rate of between 40 and 90% depending on the category. Even bellwether Procter and Gamble routinely whiffs on new product rollouts, with less than 3% of new product introductions exceeding first year sales of 50 million dollars, widely considered the benchmark of highly successful launches. The story is the same for pharmaceuticals. The only difference is that the stakes are even higher. With average development costs topping $2.4 billion dollars, it’s even more important that companies get it right.
In his new book, The Secrets of Successful Drug Launches, author Jason O’Neill offers a prescription for improving performance. According to O’Neill, 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 drugs fail at the stunning rate of between 36% and 66%, 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.
The goal of O’Neill’s book is to furnish readers with the right mental models to successfully navigate these challenges. It’s also to expose some of the most common tactical and organizational traditions that undermine success. While the book’s lessons are delivered through a pharmaceutical lens, they apply to anyone involved in the launch of new products and services. Filled with colorful examples and personal stories, ‘Secrets’ helps readers master the best of what others have already learned.
To get your copy, visit our Amazon Store or reach out to Cardinal Academy Press at the media details below.
Company Name: Cardinal Academy Press Contact Person: Jason O’Neill Email: jason@cardinalacademy.net Phone: +1 (650) 438-0898 Country: USA
