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Two-Thirds of Pharmaceutical Companies Involve Lifecycle Management Teams in Generic Defense Planning
| Source: Cutting Edge Information
RESEARCH TRIANGLE PARK, NC--(Marketwire - May 1, 2008) - Companies are involving multiple
stakeholders in generic defense strategies, according to a new study by
Cutting Edge Information (http://www.PharmaGenerics.com). Lifecycle
management teams now play a role in generic defense strategies at 67% of
companies, the study finds.
By involving many groups beyond the brand team, companies help to ensure
that long-term brand strategies help to prepare for patent expirations for
their top brands. Multiple functions should be involved during all stages
of a product's life, even when brand sales reach their peak. In addition
to lifecycle management, companies involve other groups in generic defense
as well: market research is involved at 75% of companies, pricing at 71%,
and regulatory affairs at 63%.
Lifecycle management is an especially important group to have involved in
generics defense strategy. Many of the most effective strategies, such as
new formulations or next-generation products, require work years in
advance. By the time a brand team's focus shifts from maximizing profits
to increasing the brand lifecycle, it's often too late to implement
strategies offering new products or formulations. Short-term solutions,
such as patent litigation, take little time to implement but offer no
long-term revenue protection.
"Brand team leaders shift jobs frequently in the pharmaceutical industry,
and many are focused on maximizing sales only for the brand they currently
manage," says Eric Bolesh, research team leader at Cutting Edge
Information. "If a new product manager gets assigned to a brand two years
before patent expiration, by that time it's too late to start looking at
line extension strategies like new formulations."
"Combating Generics 2008: Counter-Generics Strategy, Tactics and Execution"
examines counter-generics activity at more than 30 different companies.
Data details investment levels, planning and implementation timelines and
the prominence of different tools and tactics in the fight against
generics. The report's findings also explore case studies and the
experiences of real-world brand teams.
Download a free summary of this 159-page report at:
http://www.cuttingedgeinfo.com/pharmagenerics/PH105_Download.asp#body.