SOURCE: Cutting Edge Information

April 22, 2008 06:28 ET

Starting LCM Early Brings Greatest ROI, According to New Study by Cutting Edge Information

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.

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