How do you know if a launch is working?
Read the numbers in the order they arrive: referrals, new prescribers and cases in benefits verification and prior authorization within weeks, then time to therapy and conversion by referral cohort over one to three months, then refills, persistence, demand and field reach. Early on, the leading indicators tell you more than sales, and a cohort read at a fixed age tells you more than a running total.
| Metric | What it tells you | Where it comes from | Readable from | Common misread |
|---|---|---|---|---|
| Referrals per week | Whether demand is forming | Hub, specialty pharmacy | The first weeks | Calling a trend on one week |
| New prescribers | How widely the drug is being tried | Hub, specialty pharmacy | The first weeks | Taking "new to your data" for "new to the drug" |
| Open cases by step | Where patients wait in benefits verification and prior authorization (PA) | Hub, specialty pharmacy | The first weeks | Counting open cases without how long each has waited |
| Time to therapy | How fast a referred patient gets a first shipment | Hub, specialty pharmacy | One to three months | Taking a young cohort's median before its slow cases finish |
| Approval and conversion | How many referred patients get coverage and start therapy | Hub, specialty pharmacy | One to three months, by cohort | Dividing everyone shipped by everyone referred |
| Refills on time | Whether patients stay on schedule | Specialty pharmacy | Three months and beyond | Counting first fills as refills |
| Persistence | How many patients are still on therapy at six months | Specialty pharmacy, hub | Six months after the first patients start | Counting patients who haven't had six months yet |
| Demand units | Product reaching sites of care and patients | Sales data, specialty pharmacy dispenses | Three months and beyond | Taking ex-factory shipments for demand |
| Reach of target HCPs | How much of the target list the field has seen | CRM calls | After a full call cycle | Counting calls instead of HCPs called |
Each number needs time before it means anything. Referrals and new prescribers count events as they happen. Time to therapy and conversion wait for each patient's case to finish. Refills, persistence and demand need patients to come back for more fills, and the channel to work through its opening stock.
So in the first months, manage on the leading indicators and read them by cohort: group patients by when they were referred, and compare cohorts at the same age. A running total mixes last week's referrals with older ones, so it drifts as the mix changes even when nothing else does.
Shipments are not demand
Ex-factory sales are what the company shipped into the channel: wholesalers, specialty distributors and specialty pharmacies. Revenue is booked on them. Demand is what the channel passed on to sites of care and patients, which distributor sales data and specialty pharmacy dispenses show. At launch the two come apart: the channel places stocking orders before patients arrive, so early shipments run ahead of demand, and later ones can dip below it while that stock is used up. Manage the launch on demand, reconcile to ex-factory for finance, and treat the gap as channel inventory. The example data, as read on October 12, had no ex-factory shipments, so this guide shows none.
Every number here comes from a synthetic dataset modeled on a real small-biotech workflow: one fictional injectable, 60 territories, calls and patient data from October 1, 2023, distributor sales from October 2, 2023, and 3,335 made-up patients, 1,612 of them already in the program when the data begins. Every feed is current through October 12, 2026, except one distributor's weekly file, which runs through October 9. There are no real patients, prescribers or accounts in it.
Before using an example to teach launch metrics, check that it looks like a launch. This one doesn't.
| Month | Referrals | New prescribers | Fills | Net units |
|---|---|---|---|---|
| Oct 2023 | 41 | 41 | 1,634 | 6,922 |
| Nov 2023 | 49 | 48 | 1,602 | 6,103 |
| Dec 2023 | 46 | 43 | 1,689 | 6,279 |
| Jan 2024 | 35 | 30 | 1,622 | 6,490 |
| Feb 2024 | 51 | 46 | 1,544 | 6,218 |
| Mar 2024 | 49 | 43 | 1,586 | 6,247 |
| Apr to Sep 2026, monthly average | 52 | 29 | 1,543 | 6,105 |
Sales start at full rate: 6,922 net units in the first month, a little above the recent average of 6,105. Fills start at full rate too, 1,634 in the first month against 1,543 lately, because 90% or more of the patients filling in those months were already on therapy when the data begins. Referrals are level from the start: 12 in the data's first full week, and 11 a week on average over the three years. The one column that falls, new prescribers, falls because the data starts: in its first months nearly every prescriber is new to the data.
So the example brand behaves like an established one from its first day of data. It doesn't model a launch curve, and nothing below is a launch result. The example shows how each metric is computed and read.
The first weeks: referrals, new prescribers and open cases
Count referrals in closed weeks, and don't call a trend on one week. In the last 13 closed weeks the example's referrals ran from 5 to 17 a week, around an average of 11, in a brand whose monthly referrals have been level for three years. Read a four-week average instead.
Count a prescriber as new on their first referral. In a launch every prescriber starts new, so track breadth (new prescribers) next to depth (prescribers who refer again). In the example's latest quarter, 89 of the 157 prescribers who referred were referring for the first time in the data.
Watch open cases from the first referral: count them by step, and flag the ones waiting longer than that step usually takes. On October 12 the example had 31 open cases, 17 of them waiting on a PA decision and 2 on appeal. How long does it take a patient to start therapy? goes through the steps one by one.
One to three months: compare referral cohorts at the same age
Time to therapy and conversion mean something only once a cohort's cases have had time to finish. Here are two cohorts side by side: the latest closed quarter, and the same quarter a year earlier.
| Same quarter a year earlier | Latest quarter | |
|---|---|---|
| Referred | Jul 1 to Sep 30, 2025 | Jul 1 to Sep 30, 2026 |
| Referrals (per week) | 146 (11.1) | 164 (12.5) |
| Prescribers referring (new to the data) | 137 (88) | 157 (89) |
| Days since referral on Oct 12, 2026 | 377 to 468 | 12 to 103 |
| Coverage approved by day 60 | 109 of 146 (75%) | 66 of 90 (73%) |
| Shipped by day 30 | 83 of 146 (57%) | 80 of 146 (55%) |
| Shipped by day 60 | 104 of 146 (71%) | 61 of 90 (68%) |
| Shipped to date | 110 of 146 (75%) | 106 of 164 (65%) |
| Median days from referral to first shipment | 22 | 22, with 17 cases still open |
Shipped to date says the latest quarter converts 65% of referrals against 75% a year earlier, a 10-point drop. It isn't one. The earlier cohort has had more than a year to finish, and some of the latest quarter's patients were referred 12 days ago. Read both at the same age and the gap shrinks to two or three points: 57% and 55% shipped by day 30, 71% and 68% by day 60.
Day 60 is a fair checkpoint here because 94% of the example's patients who ship do so within 60 days of referral (1,072 of the 1,141 referred by June 30, 2026 who have shipped). Take your own checkpoint from your own time-to-therapy curve. In the latest quarter only the 90 patients referred by August 13 have reached day 60; the rest join the count as they do.
The median has the same trap. Early in a cohort, only its fastest patients have shipped, so its median starts low. The latest quarter's 22 days isn't final until its 17 open cases close.
Three months and beyond: refills, persistence, demand and reach
These numbers need patients who have been on therapy for months, and each needs a rule about who is old enough to count.
| Metric | Early in the data | Latest |
|---|---|---|
| Refills on time | 7,212 of 7,958 (91%), refills shipped Oct 2023 to Mar 2024 | 8,111 of 9,035 (90%), Apr to Sep 2026 |
| Not discontinued within 182 days of first shipment | 145 of 164 (88%), started Oct 2023 to Mar 2024 | 175 of 196 (89%), started Oct 2025 to Mar 2026 |
| Tier 1 and 2 HCPs called in 60 days | 1,413 of 1,475 (96%), first 60 days of calls | 1,417 of 1,475 (96%), last 60 days |
Refills on time: a refill is on time when it ships within the previous fill's days of supply plus a 7-day grace. Count refills only, not first fills, so the rate means nothing until patients reach their second fill. Leave out a refill whose previous fill came before your data begins: there is nothing to time it against.
Persistence: count a patient only after a full six months: here, patients whose first shipment is at least 182 days old, with no discontinuation in those days. A patient who started last month hasn't had the chance to stop, and counting them flatters the rate.
Reach: count Tier 1 and 2 HCPs (healthcare professionals) with at least one call in the window, over every Tier 1 and 2 HCP. Count people, not calls. The example's field reached 96% of them in its first 60 days of data, another sign that it doesn't model a launch.
Demand: read sales by closed week or closed month. On October 12 the open week, ending October 16, holds three days: a weekend and a Monday federal holiday. One distributor's lines for those days arrive only with its weekly file the following Monday. The open week reads 59 net units against 1,372 in the last closed week. That is 96% lower, and it isn't a drop. Which time period should each sales report use? explains why. When the first goals arrive, set sales goals by territory and call goals by rep, measure pace against the goal prorated by weekdays to the last day of data, and never hold an open week or month to its full goal.
Reading a launch well
- Read cohorts at a fixed age. Report "shipped by day 60", not "shipped to date", and choose the day from your own time-to-therapy curve.
- Keep shipments and demand apart. Stocking orders make early ex-factory sales look stronger than demand.
- Compare closed periods. An open week or month reads as a drop.
None of this is only for a launch. A steady brand uses the same cohorts to see whether access is getting slower.
James Waterman builds commercial analytics for small biotech teams. hello@aimlitics.com
Ardlow shows referrals, time to therapy, on-time refills and sales by closed week next to the field's calls, for a brand at any stage. Its open demo runs on the same kind of synthetic data.