CHAPEL HILL, N.C., Feb. 15, 2013 /PRNewswire/ -- With expiring patents and thin pipelines, pharmaceutical companies are increasingly focused on lifecycle management (LCM) to make the most of each brand at every stage of its life, including the somewhat neglected back end. In this context, brand executives are exploring strategies and corporate structures that are most effective for extending the commercial life of a mature product.
To help guide lifecycle management decisions, research and consulting leader Best Practices, LLC conducted a research study to examine the effectiveness of 20 key lifecycle management strategies for extending the commercial life of mature pharmaceutical therapies. The study evaluates each strategy by asking: How long do they take to implement, how much do they cost and how much will they return?
An example of one of the many insights in this study: Benchmark partners believe strategic pricing strategies most often cost less than any of the others probed in the study. Two-thirds who used this strategy found the cost was less than $1 Million ($US) compared with only 50 percent for re-positioning, which was the next cheapest strategy. Moving into emerging markets costs over $10 million, according to 40 percent of participants.
"Lifecycle Management Excellence: High-Performing Strategies Used to Maximize Potential of Mature Brands" will help biopharmaceutical companies more effectively conduct the many activities related to lifecycle management.
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 76-page report delivers hard-to-find benchmarks around the implementation time, cost and ROI of frequently used lifecycle management strategies. It also provides benchmarks on the optimal size and structure of Mature Brand Organizations, as well as the barriers and regulations affecting the strategies used by Mature Brand Organizations.
Research participants included 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://www3.best-in-class.com/rr1204.htm.
For more information on this study or other recent primary research studies, contact us at 919.403.0251 or at [email protected].
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.
SOURCE Best Practices, LLC