SOURCE: Cutting Edge Information

January 17, 2008 07:28 ET

86% of Companies Tie Lifecycle Management Budgets to Pharma Brands

RESEARCH TRIANGLE PARK, NC--(Marketwire - January 17, 2008) - According to a new study released by Cutting Edge Information, 86% of companies tie lifecycle management (LCM) budgets to pharmaceutical brands. The report, "Pharma Brand Optimization: Lifecycle Management Strategy" uncovers the common funding structures that top companies have in place to fuel their LCM efforts (http://www.PharmaLifecycleManagement.com).

It makes sense for companies to fund LCM activities from their brands' budgets since LCM tactics are launched to have a positive impact on a specific brand. Nonetheless, the remaining 14% of companies do not tie LCM funding to brand budgets; instead LCM funding is provided by marketing and/or R&D organizations.

Regardless of where LCM funding comes from, it can sometimes be a challenge to attain sufficient resources to provide adequate LCM support for a brand. Many of the study participants echoed this problem. Lifecycle management requires companies to have a long-term attitude to brand maintenance and growth. LCM requires investments that are not likely to see returns until many years down the line, if at all. Therefore, LCM teams and those spearheading LCM efforts need to be strategic in requesting funds and aggressive in securing adequate resources to execute their tactics.

"We heard from LCM teams that one way to win adequate funding for their efforts is to try to make sure that senior management understands and supports an LCM culture," says Amanda Zuniga, a senior research analyst at Cutting Edge Information and lead author of the report. "If senior management is on board, teams will have a better chance of attaining necessary resources for their LCM activities."

"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.

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