Lifecycle Management Excellence: Success Factors, Barriers & Lessons Learned in Using Key Strategies to Maximize Potential of Mature Brands

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.

KEY TOPICS

• Success rates of different strategies that leading companies have used to maximize mature-brand value
• Regulatory barriers encountered with using each strategy
• Lessons learned in using lifecycle management strategies to optimize the life of a pharmaceutical brand

• What are the three most important factors of success in winning a lifecycle extension or maximizing the potential of a mature brand?
• What barriers (if any) might prevent you from choosing each of the listed strategies to grow or extend a mature product?
• Given the current health care reform environment, politics, mature drug shortages and other regulatory issues, do you expect any strategies that you have used successfully in the past to become ineffective or unusable within the next 12-24 months?
• What lessons have you learned about using Lifecycle Management strategies to optimize the life of a pharmaceutical brand?

• Barriers in Implementing Strategy: More than 90% of the companies encounter barriers while implementing fixed dose combination, new dosage form, and new dosing regimen 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.

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.