CHAPEL HILL, N.C., Aug. 14, 2015 /PRNewswire/ -- With expiring patents and thin pipelines, pharmaceutical companies are increasingly focused on Lifecycle Management planning to make the most of each brand at every stage of its life, including the somewhat neglected back end. More than ever, executives seek to understand what strategies are most effective for extending the commercial life of their mature products.
According to research by benchmarking firm, Best Practices, LLC, approximately 50% of benchmarked companies employ a dedicated "Mature Brand" team to manage late-stage products. Traditional brand teams are responsible for late-stage product management at most companies that do not have a dedicated "Mature Brand" team.
The related report, "Lifecycle Management Excellence: High-Performing Strategies Used to Maximize Potential of Mature Brands," will provide leaders with hard-to-find benchmarks around the implementation time, cost and ROI of frequently used lifecycle management strategies.
The report addresses three over-arching issues that are integral to lifecycle management:
- 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 (MB) groups.
The study engaged 25 executives and managers from 18 different pharmaceutical and biotech companies. Respondents represented more than a dozen therapeutic areas.
To access the full report, or to download a complimentary summary containing insights found in this report, click on the following link: http://www.best-in-class.com/rr1149.htm
For more information on other recent primary research studies, contact us at 919.403.0251. For related research, visit our Best Practices, LLC website at http://www.best-in-class.com/
ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations. Best Practices, LLC believes in the profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies.
SOURCE Best Practices, LLC