86% of Companies Tie Lifecycle Management Budgets to Pharma Brands
RESEARCH TRIANGLE PARK, NC--(Marketwire - January 17, 2008) - According to a new study
released by Cutting Edge Information, 86% of companies tie lifecycle
management (LCM) budgets to pharmaceutical brands. The report, "Pharma
Brand Optimization: Lifecycle Management Strategy" uncovers the common
funding structures that top companies have in place to fuel their LCM
It makes sense for companies to fund LCM activities from their brands'
budgets since LCM tactics are launched to have a positive impact on a
specific brand. Nonetheless, the remaining 14% of companies do not tie LCM
funding to brand budgets; instead LCM funding is provided by marketing
and/or R&D organizations.
Regardless of where LCM funding comes from, it can sometimes be a challenge
to attain sufficient resources to provide adequate LCM support for a brand.
Many of the study participants echoed this problem. Lifecycle management
requires companies to have a long-term attitude to brand maintenance and
growth. LCM requires investments that are not likely to see returns until
many years down the line, if at all. Therefore, LCM teams and those
spearheading LCM efforts need to be strategic in requesting funds and
aggressive in securing adequate resources to execute their tactics.
"We heard from LCM teams that one way to win adequate funding for their
efforts is to try to make sure that senior management understands and
supports an LCM culture," says Amanda Zuniga, a senior research analyst at
Cutting Edge Information and lead author of the report. "If senior
management is on board, teams will have a better chance of attaining
necessary resources for their LCM activities."
"A Guidebook to Pharma Brand Optimization: Lifecycle Management Strategy"
(http://www.PharmaLifecycleManagement.com) examines pharmaceutical companies' lifecycle management
structures, funding, processes, and strategies. It guides readers through
a drug's lifecycle stages, offering insights and recommendations on the
most common lifecycle management strategies for each time period. Each
strategy is illustrated by relevant industry examples. Through this
report, readers will be better positioned to streamline their LCM
strategies and processes by benchmarking their efforts against those of
Download a free summary of "A Guidebook to Pharma Brand Optimization:
Lifecycle Management Strategy" or purchase the report at