SOURCE: Cutting Edge Information

January 10, 2008 08:27 ET

Dedicated Team Increases Pharmaceutical Lifecycle Management Efficiency, Shapes Company Culture

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.

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