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» Products & Services » » Brand Management and Product Leadership » Lifecycle Management

Maximizing Mature Brands & Assets: Successful Lifecycle Management Strategies, Tactics and Insights

ID: PSM-352


Features:

15 Info Graphics

63 Data Graphics

1260+ Metrics

4 Narratives


Pages: 98


Published: 2019


Delivery Format: Shipped


 

License Options:
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Single User: Authorizes use by the person who places the order or for whom the order was placed.

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Corporate: Authorizes use for the entire company for a year and copies can be printed. No limitations for usage inside the company.




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919-403-0251

  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • STUDY SNAPSHOT
  • KEY FINDINGS
  • VIEW TOC AND LIST OF EXHIBITS
With fewer products in the pipeline and more at the edge of the patent cliff, pharmaceutical and medical device companies are increasingly focused on strategies to extend the commercial life of their mature products. However, some of the lifecycle management strategies employed successfully in the past are losing traction due to the current healthcare reform environment.

Best Practices, LLC undertook benchmarking research to identify winning lifecycle management (LCM) strategies for mature brands. This report looks at the functional responsibility for managing and supporting mature / legacy products and delivers benchmarks around the time, cost, budget and effectiveness of different lifecycle management strategies. It also highlights the success factors, lessons learned and barriers to maximizing the potential of a mature brand.

Industries Profiled:
Health Care; Pharmaceutical; Diagnostic; Biotech; Manufacturing; Consumer Products; Medical Device; Chemical; Biopharmaceutical; Clinical Research; Laboratories


Companies Profiled:
Abbott; Alcon Laboratories; Amgen; Astellas; Bayer; Boehringer Ingelheim; CooperVision; Cubist Pharmaceuticals; Eisai; Galderma; Genentech; Getz Pharma; GlaxoSmithKline ; Grifols; Grünenthal; Medline; Merck; Nektar Therapeutics; Novartis; Novo Nordisk; Roche; Sanofi; Shire; Stiefel; Zimmer Biomet

Study Snapshot

Best Practices, LLC engaged 38 industry professionals from 25 pharmaceutical and biotechnology companies through a benchmarking survey, focus group interviews and round-table discussion.

Key topics covered in this report include:

  • Success rates & ROI of different strategies that leading companies have used to maximize mature-brand value

  • Relative cost, time, complexity, & regulatory barriers encountered with using each strategy

  • An overview of the operation, expenses, responsibilities & business impact of dedicated mature brand groups


Key Findings

Sample key insights uncovered from this report are noted below. Detailed findings are available in the full report.

  • Dedicated Group for Mature Products:
    • Nearly 50% of the participating companies have an existing dedicated group to manage and support mature / legacy products while another 3% are planning to establish one in next 12 months. The remaining half of the companies do not plan on having a dedicated group; they have their brand and commercial teams managing most of it.
  • Effectiveness of Strategies:
    • Eighty percent of the benchmark class consider fixed dose combination, pediatric exclusivity, and building alternative promotional channels to be highly effective in meeting their product objectives. More than 60% consider pricing and reimbursement and extended release formulation to be highly effective.
  • Average Duration to Implement Strategies:
    • Labeling changes strategy - Time taken by companies with dedicated and non-dedicated groups is not the same. Majority of the companies with dedicated groups require 1-2 years to implement labeling changes strategy; while majority with non-dedicated groups take more than 3 years for the same.
Table of Contents

1.
Overviewpgs. 3-8
2.
Executive Summarypgs. 9-19
3.
Mature Products Supportedpgs. 20-24
4.
Mature & Legacy Product Managementpgs. 25-33
5.
Success Factorspgs. 34-35
6.
Strategies Usedpgs. 36-39
7.
Effectiveness of Strategiespgs. 40-42
8.
Relative Cost of Strategiespgs. 43-45
9.
Relative Time Required to Implement Strategiespgs. 46-48
10.
ROI of Key Strategiespgs. 49-51
11.
Key Strategies Profilepgs. 52-58
12.
Mature Products and Therapeutic Areaspgs. 59-66
13.
Barriers in Implementing Strategiespgs. 67-72
14.
Strategies Weakened by Regulation/Reformpgs. 73-74
15.
Lessons Learnedpgs. 75-76
16.
Participant’s Profilepgs. 77-78
17.
Appendixpgs. 79-97
18.
About Best Practices, LLCpg. 98

    List of Charts & Exhibits

    I. Executive Summary

    • Key lifecycle management goals for mature / legacy products
    • Presence of a dedicated group or function to manage and support mature / legacy products in the U.S. market
    • Group / functional responsibility for maximizing the value of mature products in the U.S
    • Establishment of mature products group and impact expected from the group by senior management
    • Approximate number of mature products actively managed by the group
    • Key factors governing the transition of a product to mature status
    • Responsibilities of the mature products group
    • Most important success factors in winning a lifecycle extension or maximizing the potential of a mature brand
    • Usage and effectiveness of key lifecycle management strategies
    • Relative cost of lifecycle management strategies
    • Relative time required to implement lifecycle management strategies
    • Types of strategies implemented for different therapeutic areas
    • Barriers encountered while implementing strategies to grow or extend the lifecycle of a mature product
    • ROI Vs Barriers of listed lifecycle management strategies
    • Strategies weakened by regulations
    • Lessons learned about using lifecycle management strategies to optimize the life of a pharmaceutical brand

    II. Mature Products Supported

    • Average number of products supported by a benchmark participant in the maturity stage of the product lifecycle
    • Key goals to be accomplished for benchmarked companies
    • Late life cycle management strategies employed by benchmarked companies for their mature or legacy products
    • Physician targeting methods employed to support mature products

    III. Mature & Legacy Product Management

    • Existence of a dedicated function or group to manage and support mature / legacy products in the U.S. market
    • Group / functional responsibility for maximizing the value of mature products in the U.S, in absence of a dedicated mature products group
    • Establishment of mature products group
    • Approximate number of mature products actively managed by the benchmarked groups and the key factors governing the transition of a product to mature status
    • Responsibilities of the mature products group in terms of the activities
    • Major expense categories included in the budget of mature products group
    • Additional regions supported by the mature products group that is responsible for the U.S. market
    • Impact expected out of mature products group by senior management

    IV. Success Factors

    • Most important success factors in winning a lifecycle extension or maximizing the potential of a mature brand

    V. Strategies Used by Mature Product Groups

    • Benchmarked lifecycle management strategies for mature products - Development and new formulation strategies - aimed at enlarging patient base; Commercial and other strategies - aimed at maximizing commercial value
    • Key lifecycle management strategies employed by benchmarked companies in the U.S.
    • Key lifecycle management strategies employed by benchmarked companies in the U.S. – Companies with dedicated and non-dedicated groups supporting mature products

    VI. Effectiveness of Strategies

    • Effectiveness of lifecycle management strategies in meeting benchmarked partners’ product objectives Effectiveness of lifecycle management strategies in meeting benchmarked partners’ product objectives - Companies with dedicated and non-dedicated groups supporting mature products

    VII. Relative Cost of Strategies

    • Approximate cost to employ each of the listed lifecycle management strategies
    • Approximate cost to employ each of the listed lifecycle management strategies - Companies with dedicated and non-dedicated groups supporting mature products

    VIII. Relative Time Required to Implement Strategies

    • Average time required to complete each of the listed lifecycle management strategies after a decision is made to use one of them
    • Average time required to complete each of the listed lifecycle management strategies after a decision is made to use one of them - Companies with dedicated and non-dedicated groups supporting mature products

    IX. ROI of Key Strategies

    • Level of return on investment achieved with each of the listed strategies
    • Level of return on investment achieved with each of the listed strategies - Companies with dedicated and non-dedicated groups supporting mature products

    X. Key Strategies Profile

    • Overview and considerations of mature brand lifecycle management tactics
    • Strategies used by well-established mature product support groups in the U.S.
    • Strategy profile of well-established mature product support groups

    XI. Mature Products and Therapeutic Areas

    • Primary therapeutic area of the mature products to which insights are tied in this section
    • Time involvement for the specified drug
    • Strategies used for the specified drug
    • Duration for implementation of each of the listed lifecycle management strategies
    • Incremental sales gained (in USD millions) through each of the employed lifecycle management strategies
    • Estimated gains from individual strategies used for a specific mature brand

    XII. Barriers in Implementing Strategies

    • Barriers to using development and new formulation strategies to grow or extend a mature product
    • Barriers to using commercial and other strategies to grow or extend a mature product
    • Shields for strategies to remain immune to barriers

    XIII. Strategies Weakened by Regulation/Reform

    • Past successful strategies anticipated to be ineffective or unusable within the next 12-24 months, given the current health care reform environment, politics, mature drug shortages and other regulatory issues

    XIV. Lessons Learned

    • Key lessons learned by benchmarked partners in using lifecycle management strategies to optimize the life of a pharmaceutical brand

    XV. Participant’s Profile

    • Job titles and geographic locations of benchmark partners

    XVI. Appendix

    • Voice of the industry - Budget expense categories
    • Voice of the industry - Product responsibility
    • Voice of the industry - Shields for strategies to remain immune to barriers
    • Voice of the industry - Success factors in lifecycle management
    • Voice of the industry - Lessons learned