MCS Medical Compression Systems (DBN) Ltd. (TASE:MDCL) did the unexpected last year, and showed in a clinical trial that its non-invasive device to prevent blood clots in the limbs is so effective that it can replace blood thinner medication. Now comes the hard part: persuading physicians to forego drugs - their safety cushion - and to use the company's device.
This requires a fundamental change in behavior. For some doctors, the results of the clinical trial were evidence enough, but others need more persuasion, especially about a product developed by a small company from Israel. For this purpose, MCS hired Ambaw Bellete, a marketing executive with experience with many leading companies in the US, including Sanofi Aventis SA (: SNY; Euronext: SAN),
Bellete says, "I made my decision to join MCS after responses by doctors whom I approached was, 'I'd use this product, but I don’t believe it exists.' This means that the need is known, but that the company is not known enough, and that's precisely my job."
"Globes": How do you market the product?
Bellete: "As with all start-ups, the question is how to do it with limited resources. At the moment, we're only expanding activity at existing hospitals, while seeking more leading hospitals where we can win, by focusing on orthopedics, in which we conducted our trials.
"We segmented the market into three main groups. The first is doctors who used drugs from the Heparin family, which the device was compared against. For them, information from the trial is the main sales tool. Price isn't a consideration, because the cost is the same.
"The second group is doctors who prescribe an older generation product. There, you have to convince that what worked against better drugs will definitely work against drugs from an earlier generation, but there is a cost consideration. You have to show a more complex model, in which the lower risk of complications justifies the added cost.
"The last group is doctors who prescribe aspirin, which is actually an unproven drug. These are doctors who dislike drugs from the outset. For them, we improve the safety of treatment, as well as giving them better legal coverage.
"All doctors who prescribe drugs worry about side effects. Bleeding caused by drugs is often considered the doctor's responsibility, whereas a blood clot is considered as act of god. Our product makes it possible to forego the drug and minimize the worry about bleeding.
"In addition, we also target influential doctors at hospitals, since 2-3 out of every 10 doctors carry out most surgical procedures."
Bellete previously was a marketing executive for large companies in a range of fascinating fields. For example, he was responsible for establishing Eli Lilly's (NYSE: LLY) Cialis in the US, challenging Pfizer Inc's (NYSE; PFE; LSE: PFZ) Viagra.
Published by Globes [online], Israel business news - www.globes-online.com - on May 3, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010