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Effective Drug Life Cycle Management: The Crucial Interaction Between Brand Life Span and Market Life Cycle

Published by: Decision Resources

Published: Sep. 30, 2008 - 33 Pages


Table of Contents


Executive Summary

Strategic Considerations

Stakeholder Implications

Introduction

Market Life Cycle

Introductory Stage

Growth Stage

Mature Stage

Declining Stage

The Interaction of Market Life Cycle and Brand Life Span

Introductory Stage

Growth Stage

Mature Stage

Declining Stage

Generics Competition

Follow-On Drugs as a Tool in Life Cycle Management

Types of Follow-On Drugs

Keys to a Successful Launch

Successes and Failures

Nexium

Lexapro

Clarinex

Glucophage XR

Life Cycle Case Study: The Statin Market

Mevacor

Pravachol

Zocor

Lescol

Lipitor

Baycol

Crestor

Outlook and Implications for the Pharmaceutical Industry

Tables

1. Key Factors in Life Cycle Management

2. Pricing Strategies by Brand Life Stage and Market Life Cycle Stage

3. Examples of Follow-On Drugs on the Market

4. Attributes of Follow-On Drugs Valued by Major Stakeholder Groups

5. Key Questions Regarding Follow-On Drugs

Figures

1. Product Life Cycle Curve

2. Market Life Cycle Curve

3. Impact of Six Months of Generics Erosion on Select Brands’ Market Shares

4. Average Price of Brands and Generics as a Percentage of Respective Brands’ Price Prior to Generic Entry

5. U.S. Sales of Prilosec and Nexium, 2001-2007

6. U.S. Sales of Celexa and Lexapro, 2001-2007

7. U.S. Sales of Claritin and Clarinex, 2001-2007

8. U.S. Sales of Glucophage IR and Glucophage XR, 2001-2004

9. Ex-Manufacturer Prices, 1997-2007, of Branded Statins as a Percentage of Their 1997 Prices

10. Ex-Manufacturer Prices, 1997-2007, of Branded Statins as a Percentage of Average Branded Statin Prices in Each Year

11. Life Cycle of U.S. Statin Market, 1987-2007

12. Express Scripts’ Calculations of Actual and Potential Generics Dispensing Rates and Potential Savings, 2007

13. Cumulative Sales of Branded Drugs Facing Generics Competition, 2008-2012

Abstract

Introduction

Pharmaceutical companies recognize the importance of life cycle management but often focus on their own brands without taking note of the all-important market life cycle. Companies need to understand how the three stages of the brand life span relate to the four stages of the market life cycle. The challenges increase as markets approach the mature and declining stages and generics competition looms. Follow-on products can offer a defense against generics erosion, but companies must avoid four common mistakes. The statin market, the bestselling drug class in the United States, offers valuable lessons on life cycle management.

Get the Answers You Need to Shape Your Strategy
  • The market life cycle has four stages—introduction, growth, maturity, and decline. What are the characteristics of each of these stages? What four factors must manufacturers consider in each of these stages?
  • Brand life span can be divided into three stages—launch, maintenance, and retirement. What is the relationship between brand life span and market life cycle? How do appropriate pricing strategies in each brand life stage vary depending on the stage of the general market cycle?
  • Generics competition can erode a brand’s market share by more than 90% in less than a year. How aggressive is generics erosion in extreme cases? What impact does generics competition have on the prices of branded and generic drugs?
  • Many companies have used follow-on drugs as a defense against generics competition. What are the various types of follow-on drugs? What are the keys to the successful launch of a follow-on product, and what mistakes must manufacturers avoid? Which brands are examples of notable successes and failures?
Scope
  • Interaction of brand life span and the market life cycle: introduction; growth; maturity; decline; a series of tables provide clear guidance on strategies to adopt in each interactive stage.
  • Follow-on drugs as a tool of life cycle management: types of follow-on drugs; keys to a successful launch; successes and failures.
  • The statin market as a life cycle case study: Mevacor; Pravachol; Zocor; Lescol; Lipitor; Baycol; Crestor.
  • Outlook and implications for the pharmaceutical industry: challenges in the mature and declining stages of the life cycle; increasing generics competition; growing emphasis on comparative effectiveness research.


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