RESEARCH TRIANGLE PARK, NC--(Marketwire - April 22, 2008) - According to a new study
released by Cutting Edge Information, starting lifecycle management
planning early will result in the best return on a company's investment.
The report, "A Guidebook to Pharma Brand Optimization: Lifecycle Management
Strategy," uncovers the common lifecycle management strategies that top
companies have in place to fuel their LCM efforts
(
http://www.PharmaLifecycleManagement.com).
Pharmaceutical companies have a limited time frame for market exclusivity
and must make the best use of their products. Often, companies fail to
begin an LCM strategy at the start of the product's life. It is not
uncommon for a company to wait until a patent is due to expire in two or
three years to begin LCM activities for a brand. At that point, the
company starts panicking about its imminent loss of sales.
One of the earliest responsibilities of the LCM team is to file a
competitive patent, keeping in mind that how the patent is worded will
affect the product throughout its entire life. The LCM team must also
always keep the competition in mind -- both from competing branded drugs
and upcoming generics.
"Lifecycle management is similar to retirement planning -- if you fail to
plan for retirement when you start your career, you'll lose out on the
long-term gains from the money you put away," said Elio Evangelista,
Research Team Leader at Cutting Edge Information. "Every company should
plan for its brands' retirement as soon as possible."
The study discusses several lifecycle management strategies, including:
-- Forming strategic alliances with compatible companies
-- Researching new indications
-- Developing new formulations
These tactics, as well as numerous other strategies discussed in the
report, prolong the life of the brand and help to maximize revenues.
"A Guidebook to Pharma Brand Optimization: Lifecycle Management Strategy"
(
http://www.PharmaLifecycleManagement.com) examines pharmaceutical
companies' lifecycle management structures, funding, processes, and
strategies. 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.
Contact Information: CONTACT:
Elio Evangelista
919-433-0214