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Best Practice Database
Brand Management and Product Leadership » Lifecycle Management
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With expiring patents & thin product pipelines, pharmaceutical and medical device companies are increasingly focused on lifecycle management 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 current regulatory and cost pressures.
Best Practices, LLC undertook this benchmarking research to identify winning lifecycle management (LCM) strategies for mature brands. In particular, this study highlights the success factors, lessons learned and barriers to maximizing the potential of a mature brand.
Brand management and marketing leaders can refer to this research to execute successful lifecycle management strategies to extend the commercial life of pharmaceutical and medical device products and overcome the barriers encountered while implementing these strategies.
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.