Maximizing the Value of Cannabis-Based Pharmaceuticals
How can innovators maximize the value of cannabis-based pharmaceuticals for patients, prescribers and payers?
To date, a lack of robust clinical evidence has impacted the willingness of the medical community, payers and patients to use medical cannabis, hindering the full potential of this class of medicine. If companies with the ambition to develop cannabis-based pharmaceuticals want to maximize value of and access to their products, it is critical that evidence is generated in a strategic manner to justify health claims.
To effectively orient clinical and commercial programs, leaders must consider key strategic dimensions that factor in the nuances of the cannabis industry, specifically:
- Increasing the RELEVANCE of cannabis-based pharmaceuticals for patients by focusing on niche segments, accounting for the potential impact of self-medicating with ‘over the counter’ medical cannabis and considering a personalized medicine approach.
- Amplifying RECOGNITION of cannabis-based pharmaceuticals among prescribers and payers through differentiating and consistent formulations, proven dosing schedules and unique, value-adding delivery technologies.
- Getting to market and generating returns with utmost RAPIDITY by exploring the potential for early revenue streams and synthetic cannabinoid production and engaging early with government agencies that have influence over regulated substances.
To differentiate products, create value and provide maximum benefit with cannabis-based pharmaceuticals, organizations need product strategies that incorporate a pharma mindset and ultimately instill confidence among target stakeholders.
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To learn more about how Shift Health can support organizations in the development and commercialization of cannabis-based-pharmaceuticals, please contact Shift Health Principal, Dr. Chris Delvecchio: email@example.com