The complexity of today’s pharmaceutical market requires more efficient drug development and production. Drug lifecycle management(DLM) has the opportunity to make pharmaceutical production more effective and with lower risk – even in this vastly complex environment. The product lifecycle management creates and manages a company’s product-related intellectual capital starting from an idea to its final retreat. In pharmaceutical industry, it benefits through enhancing the lifespan of patent and pricing strategies. Improved patient compliance, revenue growth, expanded clinical benefits; cost advantages life extension exclusivity and quicker market launch are amongst the main applications of product lifecycle management.

Help With Targeting for Saturation and Maturation
In these stages of the product life cycle, marketing objectives include extending the brand’s reach and developing new growth platforms. Brand managers need to know which factors are driving HCP prescribing behavior to direct marketing and educational efforts toward increased product acceptance and utilization.

The ability to develop and apply strategic filters to practice data helps brand managers identify practitioners with large patient populations in the product’s treatment area who aren’t prescribing or underutilizing the product. It can be used to identify and engage mid-level HCPs for informational marketing campaigns to extend the product’s reach.

Help With Patent Expiration/Loss of Exclusivity Activities
As brand managers develop and execute end-of-life marketing campaigns, the need for detailed practice data and analysis grows exponentially. Many brands utilize life cycle management strategies, including new formulations and/or combinations, next generation products, expanded drug indications, and strategic pricing programs.

Developing the target audience for a multi-touch email campaign focused on end-of-life strategies requires filtering by financial network affiliations, prescribing behavior, patient demographics, and diagnostic profiles. A practiced ability to analyze and interpret practice data in order to identify the influencers among practitioners and managers is central to creating programs that will extend a product’s life cycle.

Extending value

Lifecycle management is about creating, maintaining and extending value in the marketplace. But it is also, crucially, about planning. That needs to start early enough in the drug development cycle to ensure products are tailored to a wide range of stakeholder needs and will not get lost in a thicket of perceived me-toos.

It must also be informed by company-wide input, so that value drivers are fully aligned from science to branding, manufacturing to marketing, pricing and pharmacoeconomic to market access, risk management and all the other factors that play into a more nuanced and flexible product offering appropriate to today’s market.

drug lifecycle management with the ability to view and trace every product detail throughout the entire process. Agile Product Lifecycle Management provides the capability to both manage and centralize product information, helping pharmaceutical companies realize their IT investments by addressing some of the most essential needs including speeding time to market, lowering overall operating and production costs and realizing quality standards such as quality and design. Finally, by providing a unified view of the product(s) across the organization, companies can finally realize the benefits of cross-functional collaboration where product knowledge is transparent thus facilitating in product governance both internally and externally