Pharmaceutical Lifecycle Management Strategy

$4,895.00

Perfect your pharmaceutical lifecycle management (LCM) strategy to maximize sales throughout the product lifecycle and retain market share as patent expiry approaches. First, strengthen internal communication and improve portfolio management by combining cross-functional committees and dedicated teams. Then, analyze benchmarks and strategy case studies to choose the right LCM tactic at the right time. This report focuses on 15 LCM strategies across two main categories: market enhancement and line extension. Charts include peak global sales and number of competitors for companies using each tactic; companies’ primary LCM goals for using the tactic; and the timelines, costs and ROI involved in using the tactic. Finally, this report examines teams’ leading LCM challenges and keys to success. Real-company examples explore the most critical element of LCM success, strong leadership, and provide insights on how to use that leadership to drive LCM initiatives.

Download Now! speak-to-an-expert

Report Details

Publication Date: September 2014
Pages: 196
Chapters: 4
Metrics: 500+
Charts/Graphics: 152

Top Reasons to Buy This Report on Pharmaceutical Lifecycle Management

Reinforce the Need for Cross-Functional Communications: As a new patent cliff nears and pipelines empty, drug companies need to develop or strengthen team structure to better manage their existing portfolios. Executives interviewed for this study are all in agreement that pharmaceutical lifecycle management warrants a dedicated team. Companies that are on the right track to managing drug lifecycles have also begun to add cross-functional or ad hoc committees to assist these dedicated teams. In total, 86% of life science companies have both a dedicated LCM team and a cross-functional LCM committee. This report examines the communication strategies that pharmaceutical lifecycle management teams use and shows which functions are involved in committee decisions and at what points during the product’s lifecycle they contribute to the LCM strategy.

Mix Market Enhancement and Line Extension Tactics to Maximize Product Value: Within lifecycle management planning, companies deal with patent expiry mainly in two ways: either maximize a product’s market impact before patent expiry (market enhancement) or delay a product’s patent expiry altogether (line extension). The traditional LCM method is to delay a product’s patent expiry by creating more products and indications that carry on the brand name; however, this strategy may not actually delay the initial product’s patent.  Market enhancement strategies enable companies to increase their customer base and add value to their existing products by developing relationships with patients and healthcare providers. As a result, market enhancement tactics help companies to earn consumer trust and maximize profits before patent expiry. Learn from this study how superior pharmaceutical lifecycle management teams choose one set of strategies over another. Additionally, use this study’s ROI benchmarks to determine an ideal mix of tactics that create a robust LCM strategy.

You may also be interested in CEIConnect: The Lifesciences Industry’s On-Demand Research Resource as well as our individual portfolio management research reports.

Excerpt from Pharmaceutical Lifecycle Management

Pharma companies and their drugs face numerous challenges in the brief window between launch and patent expiration. These challenges include earlier generic threats, increasing branded drug competition and payers’ demands to see real and meaningful value. Companies are forced to reevaluate their lifecycle management (LCM) strategies to maximize products still under patent protection. Paired with declining pipelines, LCM becomes even more essential. The patent cliff of 2012 saw major blockbuster drugs lose patent protection, and the upcoming patent cliff of 2015 will prove almost as painful.

With seven blockbuster drugs above the $1 billion mark, hopefully these companies have long been planning their LCM strategies. A natural barrier will protect Sanofi’s Lantus because of the difficulty in duplicating biologics. However, other drugs stand to lose sales almost immediately. An increased focus on LCM will help companies maximize product sales now and better prepare a counter-generic strategy in the future. Proactive planning is a key element to any LCM strategy, as timing during exclusivity windows is crucial. An extra day of patent protection could mean millions of dollars for a blockbuster drug.