Contact Information: CONTACT: Amanda Zuniga 919-433-0210
Dedicated Team Increases Pharmaceutical Lifecycle Management Efficiency, Shapes Company Culture
| Source: Cutting Edge Information
RESEARCH TRIANGLE PARK, NC--(Marketwire - January 10, 2008) - A study released by Cutting Edge
Information finds that only half of pharmaceutical companies have
established a dedicated lifecycle management (LCM) team. The report,
"Pharma Brand Optimization: Lifecycle Management Strategy" explores how
companies can extend the value of their brands
(http://www.PharmaLifecycleManagement.com).
"Companies recognize that maximizing brands' time on the market is
essential. Without a dedicated team's focused attention, lifecycle
management activities can easily be relegated to the backburner in favor of
immediate tasks," said Amanda Zuniga, senior research analyst and lead
author of the report.
The report finds that pharmaceutical companies' LCM structures are diverse.
But having a dedicated team concentrate on lifecycle management helps to
ensure that a company constantly has its brands' long-term health in mind.
Maintaining focus on existing portfolios is critical in light of today's
challenges. Research and development costs are staggering, blockbusters
are few, and aggressive generics threaten market share. Another advantage
to a dedicated team is that it heightens LCM's strategic importance within
the company. This elevated platform within a company aids in communication
and coordination among functions, in sharing knowledge, and in securing
senior management buy-in. All of these benefits are necessary to creating
an LCM culture that is proactive and successful in prolonging brands' life
and mitigating generic erosion.
While having this structure is ideal and is likely to become more
prevalent, even without it, companies should rely on cross-functional teams
to spearhead LCM efforts for a brand. Lifecycle management efforts are
multifaceted and require input from research and development, marketing,
business development and legal, among others.
"A Guidebook to Pharma Brand Optimization: Lifecycle Management Strategy"
(http://www.PharmaLifecycleManagement.com) examines pharmaceutical
companies' lifecycle management structures, funding, processes, and
strategies. It guides readers through a drug's lifecycle stages, offering
insights and recommendations on the most common lifecycle management
strategies for each time period. Each strategy is illustrated by relevant
industry examples. Through this report, readers will be better positioned
to streamline their LCM strategies and processes by benchmarking their
efforts against those of top-leading companies.
Download a free summary of "A Guidebook to Pharma Brand Optimization:
Lifecycle Management Strategy" or purchase the report at
http://www.cuttingedgeinfo.com/pharmalifecyclemanagement/index_PH108.htm#body.