With fewer products in the pipeline and more at the edge of the patent cliff, strategies to extend the commercial life of mature brands are critical to the bio-pharmaceutical industry today. Used correctly strategies can add as many as 10 years and billions of dollars to the life of an established or mature brand.
Increasing cost pressures are forcing pharmaceutical companies to explore sources of revenue beyond the development of new drugs. In this time- and cost-constrained environment, companies have had begun to look at lifecycle management strategies with newfound interest.
To identify which of 20+ strategies will continue to be feasible in the near future and which have the best return on investment, Best Practices, LLC, a world leader in biopharmaceutical benchmarking and best practice research, performed this research to help pharma and biotech executives and managers generate more value out of their mature brands.
This study is designed to help brand and marketing leaders identify winning lifecycle management (LCM) strategies they can use to extend the commercial life of bio-pharmaceutical products. The study examines ROI and future viability of 20 different LCM strategies. In addition, the research provides insights into which strategies will survive as they are faced with a changing pharmaceutical environment.