Rethinking Product Lifecycle Management - Pharmaceutical Executive


Rethinking Product Lifecycle Management

Pharmaceutical Executive

Where to focus

Pharmaceutical professionals who apply DLO are demonstrating dramatically better commercial success and competitive advantages for their products and companies. The benefits of the DLO versus the LCM approach are highlighted in three critical events during a product's life:

Product launches. Pharmaceutical professionals using the LCM focus their efforts in succeeding during the launch year, the first year of the traditional product lifecycle. However, in today's highly competitive pharma industry, just winning the launch year is far too late. It's like a presidential candidate trying to win the election a year after it is held. In contrast, DLO users—like presidential campaign teams—realize that successful launches are actually won in the pre-launch years, usually in clinical Phases II and III, during the early period of a product's life.

In fact, IMS data has shown that the ultimate sales trajectory of a new chronic-care medicine is determined in the first 12 weeks as opposed to the first 12 months after launch. Applying DLO enables professionals to plan and execute pre-launch activities much earlier to position the product and generate stakeholder awareness and demand. Moreover, it enables the commercial launch team to preempt counter-launches, brand pre-positioning, and unfavorable messaging from competitors seeking to thwart the new product in the pre-launch years. It is analogous to a presidential candidate who begins the competitive campaign three to four years before the election by fixing an election strategy, communicating a platform, and establishing relationships with key constituencies before competitors can frame an alternative negative message about the candidate's platform and character.


blog comments powered by Disqus

Source: Pharmaceutical Executive,
Click here