An analysis of e commerce and the keys to a successful company

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An analysis of e commerce and the keys to a successful company

July 6, By Bob Rash, Vice President, Smith Medical Partners At a time when the opioid addiction epidemic has received national attention and is at the forefront of new legislation and regulation, a collaborative and successful partnership has evolved in an effort to help curb some of the devastating repercussions.

Smith Medical Partners, a national specialty distributor, saw an opportunity to engage with Adapt Pharma, an emerging pharmaceutical company, which created an antidote for opioid overdoses.

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Smith, began developing a standard agreement in late for retail distribution and subsequently, the partnership with Smith Medical Partners began. Both parties saw an opportunity to partner and distribute Narcan to various groups outside the traditional hospital and pharmacy distribution setting.

Adapt Pharma had an important product that needed to get into the hands of first responders and community organizations, while Smith Medical Partners had the experience and flexibility to identify specific markets and groups that would be well-suited to administer it.

Together, we agreed on the important fact that distribution should not be limited to pharmacies.

An analysis of e commerce and the keys to a successful company

Those on the front lines fighting this epidemic, such as first responders, police, firefighters, substance abuse clinics and schools, were the groups that needed straightforward access. In Januarywe formalized our partnership and launched two notable programs.

The first distributes Narcan to community first responders. In the few months since we initiated our distribution agreement, we have experienced many successes and challenges, and we have leveraged the know-how of both organizations to find solutions. Yet, as with anything new and innovative, different challenges surfaced and needed to be adequately addressed.

The distribution needs of a university, for instance, are often different from those of a substance abuse clinic, so a one-size-fits-all strategy was not always optimal. As a result, this partnership required flexibility to adapt to nuances and approach each situation differently.

Consistent and open communication with Adapt Pharma for proper alignment has been crucial, and is one of the many reasons this initiative has already been so successful. Beyond flexibility and effective communication, we had to be open to taking risks and stepping out of our comfort zone.

We had to find a way to distribute this drug to those outside the traditional pharmacy setting. We quickly strategized a new distribution protocol that carefully considered the end user.

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Several municipalities have already purchased Narcan. They are excited about the uniqueness of the product and its potential to stop an opioid overdose.

One issue that often arises with pharmaceuticals is liability. We addressed this by ensuring we put Narcan in the hands of those with the appropriate licensing of a medical professional. It is important for companies like ours to do our due diligence and ensure the medical directors purchasing products for their organization have the proper licensing and training.

Another issue we commonly face is related to cost, and access, across different classes of trades. If you walked into a retail pharmacy to purchase the drug today, the product has a certain cost and reimbursement structure.

However, the different distribution channels made available for this product allows for pricing that supports the public interest, like that of first responders. Ultimately, this partnership has been a tremendous learning experience as we were able to foster a synergetic relationship with Adapt Pharma.

Every day brings new challenges in getting the product out the door and into the hands of the people who need it most, but it also brings the satisfaction of seeing how quickly we have made a difference. We attribute the success of this partnership to the fact that both companies are flexible and nimble innovators.

This allowed us to address unique distribution challenges from the perspective of a small business, and ultimately make an impact at the community level.

Working with Adapt Pharma has been rewarding and beneficial, and as they grow, we are excited to grow with them.

An analysis of e commerce and the keys to a successful company

We take pride in the fact that together we are proactively helping to address a national health crisis.Whether you're a Fortune company or a one person shop, to be successful, you need a marketing strategy that you implement consistently. Thankfully, it doesn't have to cost a fortune and you don't have to be a creative genius.

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