Currently, the client has only one product on the market for cancer treatment generating roughly $500M in annual sales.
In the next 6-12 months, the client is planning on introducing a new cancer drug on the market.
Its the synergy between marketing and sales that lies behind all successful product launches.
I like the aggressive approach for pre-launch activities to tell the Oncologists/conferences about the upcoming drug launching.
Although not guaranteed, the FDA approval is more likely to be obtained.
Also having an FDA approved drug that has no competition in the market and with a potential risk of new drugs from competitors in just under 4 years is a huge risk and could lead to a huge loss in potential revenue..As there is no real right answer to this problem, I can say that it also depends on cash on hand to train and hire 750 new sales reps.Let's say for whatever reason, FDA approval couldn't come and the launching was postponed, could the company utilize the new reps in other drugs to still develop the skills they need for RFC-9000 when it hits the market? Just for debate, what happens when a competitor submits their own patent to break the client's patents with a few claims of their own that were for different uses for the drug? Since the management is planning a new product launch, they would have anticipated prior to the launch about the number of packs they plan to sell in the next five years, the intitial budgets that they have, the COGS generated from the 5 year sale plan and the profits generated too.Ofcourse, these are hypothetical figures and estimates, but these will help align the direction they want .. whether they want to enter the market aggressively or slow.I think an aggressive approach is better if competition threat is anticipated within the next 3.5 years.What if a new product results in sales decline of the existing one?There could be a trade off so I would def try to find out more specific details about the target group of the two products, usage etc.I think the investment needed to come up with a successful drug that has cleared the trials would be so large compared to the hiring of the sales representatives and hence the best decision here is to go forward with the hiring and training of the reps.This is considering the fact that the drug has cleared the clinical trials and just awaiting the final approval.This will help them establish a brand name by that time.Second, additional sales teams should be hired and trained and pre launch activities can be done in order to maximally utilize resources.