Pharmaceutical
lifecycle Management (LCM) went through business transformation in 2017; it is
the process of managing the entire lifecycle of a product from its design,
research, and manufacturing to service and disposal. LCM manages product
related intellectual capital from the beginning of an idea till its withdrawal.
Knowledge, skill and strategic planning in the process are prerequisite for
improving patient satisfaction, maximizing sale, revenue growth and Cost and
clinical benefits. LCM is the driving force of pharmaceutical industry. The
biggest challenge of the industry is increased drug patient cliffs, development
cost, and pricing pressure, stringent regulatory and declining R&D
productivity. The driving team must be thorough with different approaches to
deal with different timescale, geographical location, probability of success
and common issues attached to it. Major threat to pharmaceutical sector is
generic and biosimilar competition.
According
to “Pharmaceutical
Lifecycle Management Strategies in 2017” Life cycle management
strategies play an important role in supporting such extensive and complex
activities whereas in terms of new drug products Contract development and
manufacturing organizations (CDMOs) is professionally expert in both development
and commercialization which thereby reduce the risk associated to it.
Traditional lifecycle management primarily focused on drug product from launch
to expiration assuming that revenues are minimal post exclusivity period. In
improvised LCM it was held that post patent protection drug sale account to 30%
of that of small molecule drugs. Therefore now pharmaceutical manufacturers
have holistic approach towards product lifecycle management starting from its
discovery to post market exclusively. Strategies of 2017 focus on generic
competition planning on development stage rather than when product is launched.
It leads to lower cost and higher yields n the market. Modern LCM strategies
consist of combinations of method and formulation to drive multiple expiration
date as per different geographical location. Diverse delivery methods,
manufacturing processes and logistic and marketing activities are part of it.
Pharmaceutical lifecycle management strategies 2017 is highly systematic and
effective that design optimal synthetic sequence beginning from developing
initial process. Moreover testing and evaluating results into better quality,
yield and processability.
All
the users whether government, physician or patent they all look for
demonstrated value that is evidence based medicine and have high expectation
towards its benefits and rely on it meeting their medical needs. Demonstrated
value is extremely easy to use and has reduced side effects. Integrated
approach leads to discovery of new market and technologies due to its cross
functioning LCM team consisting of marketing, R&D manufacturing and
engineering representatives.
In
developed countries such as Europe and America generic holds majority share of
small molecule drug. Increase in income is leading to rise in disposable income
e of the user thus people seek medical treatment often resulting fierce
competition in the market. Leading drug manufacturers such as Eisai, Merck
& Co, Johnson & Johnson, Takeda and AbbVie must be profitable to
continue investing towards discovery of potential, cost- effective new drugs.
Market leaders are committed to integrated LCM strategies in order to provide
real benefits to patient along with maximizing revenues. CDMOs are like fuel to
the fire sponsoring companies to successfully implement these strategies.
To know more, click on the link below:
Contact Us:
Ken
Research
Ankur
Gupta, Head Marketing & Communications
0124-4230204