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In Pharmaceuticals, It Takes a Team to Fight Generics
| Source: Cutting Edge Information
RESEARCH TRIANGLE PARK, NC--(Marketwire - October 25, 2007) - Branded pharmaceutical companies
plan for generic competition years in advance. A solid head start isn't
enough, though -- to build the best counter-generics plans, companies need
contributions from personnel in different departments.
Involving multiple people is key to prolonging brand life, according to a
new study by Cutting Edge Information (http://www.PharmaGenerics.com).
While marketing teams almost always contribute to counter-generics
planning, stakeholders from other groups ensure that strategies include as
many viable options as possible. They also help to establish contingency
plans.
The study -- "Combating Generics 2008: Counter Generics Strategy, Tactics
and Execution," available at http://www.PharmaGenerics.com -- found that
market research, pricing, and regulatory affairs work on a drug's
counter-generics strategy at over 60% of surveyed companies, and that legal
and sales departments are involved at more than half of surveyed companies.
Additionally, the clinical development organization carries out testing on
new drug formulations, next-generation products and other R&D-based
counter-generics options.
Together, these groups develop a complete picture of optimal
counter-generics strategies -- and they identify the tactics most likely to
provide the best results.
"In our research, we heard many times that a diverse team of stakeholders
creates more robust
counter-generics strategies," says Eric Bolesh, research team leader at
Cutting Edge Information. "The silo effect can hamper long-term generics
planning, because everyone's focused on their own near-term goals. When
multiple functions think about a brand's future, there's a better chance
that someone will identify and champion a viable strategy."
Findings from Cutting Edge Information's counter-generics research is
available in "Combating Generics 2008: Counter-Generics Strategy, Tactics
and Execution" a report that examines counter-generics activity at more
than 30 different companies. The report covers investment levels, planning
and implementation timelines and the prominence of different tools and
tactics in the fight against generics. The report's findings also explore
case studies and the experiences of real-world brand teams.
To download a free summary of this 159-page report, visit
http://www.cuttingedgeinfo.com/pharmagenerics/index.htm#body.