Lifecycle Management Excellence: Mature & Legacy Product Management

Increasing cost pressures have forced pharmaceutical and medical device companies to explore sources of revenue beyond the development of new products. As organizations are trying to maximize the potential of mature / legacy products, it is important to review the resources, operations and support provided to dedicated mature brand groups.

Best Practices, LLC undertook this benchmarking research to identify winning lifecycle management (LCM) strategies for mature brands. In particular, this study provides an overview of the operation, expenses, responsibilities and business impact of groups dedicated to managing and supporting mature / legacy products.

Brand management and marketing leaders can refer to this study to employ strategies for successfully managing mature / legacy products.

KEY TOPICS

• Late life cycle management strategies for mature or legacy products
• Physician targeting methods to support mature products
• An overview of the operation, expenses, responsibilities & business impact of dedicated mature brand (MB) groups

• In your experience with mature or legacy products, what were the key goals your company worked to accomplish?
• In which of the listed late-life strategies does your company engage on behalf of its mature or legacy products?
• How do you target physicians (if at all) in supporting mature products?
• Does your company have a group or function dedicated to managing and supporting mature/legacy products in the U.S. market?
• Without a dedicated Mature Products group, who at your company is responsible for maximizing mature products in the U.S.?
• Approximately how many mature products does the group actively manage currently?
• Which of the listed activities are responsibilities of your Mature Products group?
• If your company’s mature products group manages a budget, what are the major expense categories it includes?
• For a specific mature brand you worked with, what strategy was used, what was the therapeutic area, what was the amount of incremental sales (in US $ millions) gained and how long was the strategy employed?

• 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.

Best Practices, LLC engaged 38 industry professionals from 25 pharmaceutical and biotechnology companies through a benchmarking survey, focus group interviews and round-table discussion. More than sixty percent of the benchmark partners serve at the director or president level.

If you purchase Best Practice Database document(s), you will have 30 days from the date of purchase to apply some or all of the cost of the document(s) toward the cost of a Full Access Individual, Pharma, Group or University Membership. Write us at DatabaseTeam@bestpracticesllc.com or call David Guinn at 919-767-9179 if you have any questions.