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Do you know how to prepare for a ‘best practice’ optimization of your brand’s lifecycle management strategies?

(by Neal Hansen, expert-trainer of the
Late Stage Pharma Lifecycle Management
course)

Good lifecycle management (LCM) can be defined as:

“Maximizing the potential of a molecule in the context of the overall portfolio. As such, it is the process of knowing which questions to ask and effectively making go/no-go decisions at every stage of the product lifecycle”

 

The main challenges pharma faces in managing the lifecycles of their brands are:
  • Development times getting longer, as concerns about safety move up on the regulator's agenda
  • Extending patent life has become more challenging because defensible patenting and regulator exclusivities are increasingly limited
  • The drug approval rate is under pressure as a result of increasing focus on safety
  • Product uptake slowing down because of pricing and reimbursement hurdles and more restrictive treatment guidelines (e.g. NICE)
  • The level of market penetration, and therefore the peak sales potential, is reduced by the presence of more and better competing drugs on the market
  • Therapeutic substitution results in an earlier sales decline in the brand’s lifecycle
lifecycle management optimization
You should first ask yourself 3 questions before even engaging in developing an LCM plan:
  • When: what timing should be considered?
  • Who: who should drive the process, and who should make the decisions?
  • How: are you going for a formalised team or have it integrated in the existing structure; will it be a core process or an add-on?
Once you have answered the above 3 questions, you will have to gather the necessary critical assets:
  • Strong market intelligence
  • Involvement of the leadership team
  • Buy-in of both marketing and development
  • Creativity and flexibility (‘out of the box’ thinking)
  • Strong corporate memory (previous ideas and strategies)
In later stages of a product’s lifecycle, evidence of a well-managed product lifecycle should include:
  • A defined positioning of the brand in both the pre- and post-patent expiry period
  • A portfolio of lifecycle management options (developmental, commercial, regulatory) available to affiliates to adopt a tailored approach to patent expiry
  • Affiliate level action plans to manage the brand/molecule in the patent expiry period that recognize the local dynamics likely to shape the new competitive environment

A good preparation will allow you to optimize your different LCM strategies when marketing your brand in today’s challenging market.

 


Learn much more from Neal Hansen at the Late Stage Pharma Lifecycle Management course

 I am truly impressed by the breadth and depth of Neal's knowledge, as well as by the variety of "real life" examples he discussed during the course.

Iulia Radau, Business Development Director, AstraZeneca – Romania

 

 

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