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Pharmaceutical Lifecycle Management: Strategy Selection and Execution
Cutting Edge Information, Oct 2010, Pages: 152
As short-term concerns naturally dominate commercial activity, lifecycle management (LCM) is a keystone to strategic, long-term brand planning. Faced with shrinking market exclusivity, evolving branded competitors, aggressive generics and, overall, less time to recoup investments drug companies devise robust strategies to prolong brand life and value.
Successful teams plan carefully and give themselves plenty of time to execute their strategies, which may take years to bear fruit. In best-case scenarios, centralized LCM groups collaborate across functions to knock down silos and focus all stakeholders on long-term brand success.
Empower your lifecycle management team and track the effectiveness of different LCM strategies:
- Build LCM expertise: Track benchmarks for dedicated LCM teams as they plan, execute and review their strategies. Explore real-company approaches to LCM structure, see how leading companies eliminate structural silos to strengthen cross-functional coordination.
- Master LCM’s driving factors: Understand the critical factors steering LCM efforts, including management buy-in, leadership and resources. Inform your strategy with profiles of 11 key tactic, complete with ROI, timing and effectiveness data.
- Show ROI and win buy-in: Learn LCM veterans’ approaches to addressing the ROI challenge and see how they justify LCM activities and funding.
The four chapters in Pharmaceutical Lifecycle Management include benchmarks that detail lifecycle management team (LCM) structure, strategy-setting and leadership. Other metrics explore timing, budget and effectiveness of 11 specific LCM strategies.
Chapter 1: Incorporating Lifecycle Management into the Marketing Organization
16 data charts detailing LCM structure and reporting lines:
- Functions overseeing LCM efforts
- Specific examples of LCM organizational structure
- Level of executive leadership overseeing LCM activities
- LCM activities performed by specific functions
Chapter 2: Lifecycle Management Budgets and ROI
24 data charts focused on the following:
LCM strategy-setting and budgeting
- Departments determining spending per brand
- Functions contributing to overhead LCM costs
- Average percentages of US and EU revenue lost in first year of generic competition
Measuring ROI and effectiveness of LCM initiatives
- Impact of historical ROI metrics on strategy decisions
- Self-rating of factors affecting LCM groups:
- Understanding of threats and opportunities
- Level of resources and funding
- Level of communication and knowledge
- Ability to collaborate across business functions
- Grasp of strategic timing for activities
- Ability to implement initiatives
- Effectiveness of executed LCM tactics
Impact of market threats on LCM plans
- Patent litigation challenges
- New branded market competitors
- Managed care and formulary access challenges
- Price wars
- Scientific development limitations
Chapter 3: Strategic Considerations for Lifecycle Management Plans
18 data charts focused on these topics:
The importance placed on different factors when setting or executing LCM strategy:
- Potential return on investment
- Market research findings
- Competitors’ strategy
- Past experiences in setting strategy
- Execution cost and time
- Time from patent expiration
The impact of specific factors when executing LCM strategies:
- Senior management buy-in
- Strong leadership
- Cross-functional collaboration
- Core LCM team continuity
- Adequate resources and time
- Proactive planning
- Previous experience
- Knowledge management efficiency
Chapter 4: Assessment of Lifecycle Management Tactics
74 data charts that comprise profiles for 11 key LCM tools:
- New indications
- New formulations
- Pediatric market exclusivity
- Disease management programs
- Strategic pricing changes
- Authorized generics
- Combination products
- Next-generation products
- New dosing regimens
- Patent litigation
- Rx-to-OTC switches
Charts break down timing, budget and effectiveness metrics for each tactic above:
- Amount of time needed to best implement specific tactic
- Additional dollars earned per dollar spent on specific strategy
- Phases in which tactic is planned and executed
- Number of years left on patent when tactic execution begins
- Time spent implementing the tactic
- Ideal timeline for implementing the tactic
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