Launching A New Product In Europe

Executive Summary

Rhythm Pharmaceuticals, a biotech company focused on developing treatments for genetic obesity disorders, partnered with Therismos to manage the European launch of their first product, Imcivree. With no infrastructure or regulatory licences in place for the region, Rhythm relied on Therismos’ comprehensive operational services to ensure a timely and successful market entry.

Introduction

Rhythm Pharmaceuticals was approaching the critical juncture of launching Imcivree in Europe. While the company was focused on securing pricing and reimbursement approvals, they needed an operational partner to manage the logistics of their launch. Therismos was chosen to fill this gap, providing a cost-effective solution that allowed Rhythm to meet its launch deadlines.

Challenges/Problems

• Lack of European Infrastructure: Rhythm had no internal capabilities in Europe for managing the product launch.
• Regulatory Compliance: securing the necessary licences for product distribution in Europe would have been costly and time-consuming.
• Time Constraints: delays in operational readiness could have postponed the product launch, affecting patient access and revenue.

Solution

Therismos offered a fully operational service, managing everything from product procurement and inventory management to order fulfilment and cash collection. By outsourcing these critical functions, Rhythm was able to focus on developing its internal capabilities while meeting the immediate needs of the market.

Implementation

Therismos’ team handled the procurement, storage, inspection and release of Imcivree, ensuring that all orders were fulfilled promptly. They also managed invoicing and cash collection, providing Rhythm with detailed sales reports to track the product’s performance in the market.

Results/Outcomes

• On-Time Launch: Imcivree was successfully launched across Europe without any delays.
• Cost Efficiency: Rhythm avoided the high upfront costs associated with setting up their operational infrastructure.
• Sales Growth: the product gained momentum in the market, with initial sales allowing Rhythm to invest in building its in-house capabilities.

Key Takeaways

Therismos’ partnership with Rhythm Pharmaceuticals highlights the value of outsourcing operational services to achieve fast market entry. By providing a ready-made solution, we helped Rhythm bring their product to patients without the delays or costs of developing an internal infrastructure.