Lifecycle Management boosts Early-Stage Product Commercialization Efforts
CHAPEL HILL, N.C. – April 9, 2008. Drug development continues to require an enormous commitment of time and resources. To better manage the complex process, the pharmaceutical industry has turned to early-stage commercialization activities to reduce R&D costs and better position new products at launch. As part of this established trend, leading companies have learned to initiate lifecycle management analyses early in the development cycle, according to research from Best Practices, LLC.
“By identifying all the viable indications of a compound earlier, a company can add significantly to the molecule’s lifetime economic value,” said Cameron Tew, manager of Research and Publishing at Best Practices, LLC. “Lifecycle management has emerged as a critical skill for early-stage marketers.”
The importance of injecting lifecycle management in the early stages of compound assessment is one of the 64 best practices included in “From Genes to Giants: Best Practices in Early-Stage Commercialization.” The 113-page study contains a wealth of insights gleaned from interviews and benchmark survey responses from pharma companies such as Bristol-Myers Squibb, Eli Lilly, GlaxoSmithKline, Johnson & Johnson, Novartis, and Pfizer.
To download a complimentary summary of the study, go to http://www.best-in-class.com/rr925.htm .
The study found that early use of lifecycle management as part of a portfolio management program was just one way that organizations can boost the efficiency and value of their early stage development work. The study also revealed the following findings:
- Centralize early and late-stage commercialization functions to cultivate better integration among people, resources, activities and capital-intensive projects.
- Employ integrated tools, techniques and tactics for portfolio management and decision analysis to develop understanding and win broad-based support for tough decisions.
- Develop collaboration, facilitation and negotiation skills that help early-stage marketers marry R&D and commercial perspectives in new product development and portfolio management.
Download additional findings in the complimentary report summary at: http://www.best-in-class.com/rr925.htm or contact our Solution Specialists at (919) 403-0251 or email@example.com.
If you would like to speak to us about how our research can benefit your organization, please contact Cameron Tew, manager of Research and Publishing at Best Practices, LLC at (919) 767-9246 or firstname.lastname@example.org.