Abstract
Overview
Introduction
As competitive pressures from the entry of generics post-patent expiry and new
brands are growing, product lifecycles are evolving for the worst. Effective
lifecycle management is becoming a must for Pharma looking to maximize their
return on investment, regardless of which stage of the lifecycle a drugs is
in. However such strategies are becoming most prominent immediately before
patent expiry.
Scope
- Review of key reasons why lifecycle management is important now
- Analysis of key considerations Pharma need to take care of when devising
lifecycle management strategies
- Discussion of most commonly used lifecycle management strategies
- Case study analysis of successful and unsuccessful lifecycle management
strategies employed by Pharma
Highlights
One of the key challenges for Pharma is the loss of corporate memory regarding
specific brands as brand managers spend on average only 18 months on one
product with mainly short term goals in mind. Pharma need to take a structured
approach to lifecycle management with a regular review of their strategies in
response to internal and external events.
Lifecycle management should not be left until only few years are left to
patent expiry. Revenues can be maximized during launch and peak phases by
employing the right approaches. If a company starts planning its lifecycle
management strategy early, it has more strategies available. However, many
companies leave planning until late in the lifecycle.
Payers and physicians are becoming more sceptical of certain steps taken by
Pharma as they consider them to be pure lifecycle management. Follow-on
products such as reformulations and fixed dose combinations need to ensure
they truly satisfy an unmet need in order to achieve even moderate uptake.
Reasons to Purchase
- Identify critical considerations for creating the optimal lifecycle
management plan
- Understand when the different lifecycle management strategies are most
appropriate
- Gain insight into recent successful and unsuccessful lifecycle management
strategies
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