Non-members: Click here to review a complimentary excerpt from "Lifecycle Management Excellence: Effectiveness and ROI of Lifecycle Strategies"
With fewer products in the pipeline and more at the edge of the patent cliff, strategies to extend the commercial life of mature brands are critical to the bio-pharmaceutical industry today. Used correctly, strategies can add as many as 10 years and billions of dollars to the life of an established or mature brand. This study is designed to help brand and marketing leaders identify winning lifecycle management (LCM) strategies they can use to extend the commercial life of bio-pharmaceutical products. The study examines ROI, effectiveness, time and costs required for over 20 different LCM strategies.
To help pharmaceutical and biotech companies more effectively overcome the many challenges related to lifecycle management as patents expire and pipelines thin, Best Practices, LLC conducted a study to provide important benchmarks to determine the value of different lifecycle management strategies. Specifically, this benchmark study provides executives with important metrics on successful strategies in the current pharmaceutical environment and the returns they can anticipate from these different tactics.
- Corporate Lifecycle Management (LCM) Goals & Policies
- Use of Key LCM Strategies
- Comparative Effectiveness of Key LCM Strategies
- Relative Costs of Key LCM Strategies
- Relative Time of Key LCM Strategies
- ROI of Key LCM Strategies
- Key Strategy Profiles
- Gains from Using LCM Strategies
SAMPLE KEY FINDINGS
- Key Lifecycle Management Goals for Mature Brands
- Targeting of Physicians in Support of Mature Brands
- Late-Life Strategies Used on Behalf of Mature Brands
- Usage of 20+ LCM Strategies
- Effectiveness of LCM Strategies
- Cost of LCM Strategies
- Return on Investment of LCM Strategies
- Time Required for LCM Strategies
- Number of Months LCM Strategies are Employed
- Incremental Sales Gained by LCM Strategies
- Litigation Has Highest ROI: Overall, litigation strategies achieved the highest ROI for participants, with 40% realizing more than 100% ROI and another 20% realizing over 50%. Fixed dose combination, one of the more expensive strategies, had the second highest ROI rating. With respect to time and costs, branded/authorized generics was the most effective strategy in garnering a high ROI.
- Financial Gain: Financial gain from using individual strategies among the benchmark class ranged from $0 to $10 billion, with a median gain of $30 million. The average gain was $254 million.
Research participants included 25 executives and managers from 18 different pharmaceutical and biotech companies. Respondents represented more than a dozen therapeutic areas.