Abstract
A product lifecycle is the succession of stages from the product’s birth until its final withdrawal from the market. While each stage brings significant changes, a succession of strategies for the management of product lifecycle is required. 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. To fabricate an effective and fruitful product lifecycle management program many attributes are considered. The chief ones are: early start; strategic planning clear leadership; supporting knowledge and skills, preparedness for changing rules of government and organizations.The present manuscript focuses on product lifecycle management, its applications and the key considerations for a successful product lifecycle management.
Get full access to this article
View all access options for this article.
References
1.Norris P. PLM: revenue booster, successful product management supplement, http://www.aspentech.com/publication_files/Successful_Product_Mgmt_PLM_article.pdf (2002, accessed 5 July 2011) .
2.Hoogkamer H. and Wernli MH. Product lifecycle and portfolio management, World Pharmaceutical Frontiers, http://www.worldpharmaceuticals.net/pdfs/060_WPF010new.pdf (2006, accessed 7 July 2011) .
3.McKiernan J. Achieving business integration across the pharmaceutical value chain, http://ftp.software.ibm.com/software/integration/pdf/pharma_valuechain (2003, accessed 15 July 2011) .
4.Lindner JR. Product lifecycle management: IBM Product Lifecycle Management Center of Competency: Consumer packaged goods (CPG) & pharmaceuticals/life sciences, http://www.purdue.edu/discoverypark/PLM/pdf/plm_johnlindner.pdf (2004, accessed 5 July 2011) .
5.Patent lifecycle management, http://ebookbrowse.com/patent-life-cycle-management-ppt-d16388914 (2010, accessed 25 July 2011) .
6.Tuttle E, Parece A and Hector A. Beyond lifecycle management – optimizing performance following patent expiry, www.analysisgroup.com/uploadedFiles/Publishing/Articles/Patent_Expiry (2004, accessed 2 August 2011) .
7.Brian J, Buono D and Kevin WC. Evolving product lifecycle management approaches, http://64.237.99.107/media/pnc/media.1001.pdf (2009, accessed 15 July 2011) .
8.King J. Can a drug live forever? http://65.17.196.124/pdf/live.pdf (2003, accessed 5 July 2011) .
9.Adair D. Blockbuster protection. Intellectual Property Right Magazine , 35–37 January 2011, http://www.bristows.co.uk/assets/documents/IPM.pdf (accessed 23 August 2011) .
10.Addressing the challenges of product lifecycle management, http://www.hr.capgemini.com/m/hr/tl/Addressing_the_Challenges_of_Product_Lifecycle_Management.pdf (2007, accessed 23 August 2011) .
11.
Stark
J
. Product lifecycle management: 21st century paradigm for product realisation . London : Springer-Verlag , 2011 , pp. 2, 6, 375 –2, 6, 375 .
12.New-product development and product life-cycle strategies, http://people.arcada.fi/∼eldons/Marketing%202011]/Marketing%202011]/Life%20cycle%20strategies%2014.ppt (2008, accessed 6 August 2011) .
13.Komninos I. Product life cycle management, http://urenio.org/tools/en/Product_Life_Cycle_Management.pdf (2002, accessed 1 July 2011) .
14.
Itkar
S
. Pharmaceutical management . Pune : Nirali Prakashan , 2007 , pp. 3, 12 –17 .
15.Unlocking the value of pharmaceutical products: a new perspective for product lifecycle management, http://www.ru.capgemini.com/m/ru/tl/Vision__amp__Reality_Research_2004.pdf (2004, accessed 2 July 2011) .
16.NMEs approved by CDER, http://www.fda.gov/downloads/Drugs/DevelopmentApprovalProcess/HowDrugsareDevelopedandApproved/DrugandBiologicApprovalReports/UCM242695 (2011, accessed 2 October 2011) .
17.
Dennis
ZK
. Product lifecycle management: marketing strategies for the pharmaceutical industry . J Med Market: Device Diagn Pharmaceutical Market 2008 ; 8 : 293 –293 .
18.
Adams
CP
Brantner
VV
. Estimating the cost of new drug development: is it really $802 million? . Health Aff 2006 ; 25 (2 ): 420 –428 .
19.PhRMA profile: pharmaceutical industry 2011, http://www,phrma.org/sites/default/files/159/phrma_profile_2011_final.pdf (2011, accessed 18 December 2011) .
20.
Kaitin
KI
. Deconstructing the drug development process: the new face of innovation . Clin Pharmacol Ther 2010 ; 87 (3 ): 356 –361 .
21.Cha M. Pharma-biotech alliances: a case study, http://leda.law.harvard.edu/leda/data/625/Cha_redacted.html (2004, accessed 23 August 2011) .
22.Rebecca SY and Ellen SC. Pharmaceutical reformulation: the growth of life cycle management. J Health Law Policy 2007; 1: 379–410. http://www.law.uh.edu/hjhlp/issues/vol_72/yoshitani_cooper.pdf (accessed 1 August 2011) .
23.Product enhancement and product life cycle management through strategic pharmaceutical journey using science, technology, and innovation, http://riconpharma.com/html/docs/ProductEnhancement_and_LifeCyclePlanning.pdf (2009, accessed 7 July 2011) .
24.Mitchell R and Bingham D. Rules to live or die by for life cycle management, http://www.pharmaquality.com/ME2/Audiences/dirmod.asp?sid=325598564E8C4B3EB736C7159241312D+nm=Browse+Articles+type=Publishing+mod=Publications%3A%3AArticle+mid=D3E3C719D8D44216836DCA4F4144BEC4+tier=4+id=2482698BE7B7474F8A875B62C100DD58+AudID=5648A5C28C97462DBBDB309539B820EF (2009, accessed 29 July 2011) .
25.Silverman E. What managed care thinks of Pfizer and its Lipitor strategy, http://news.yahoo.com/managed-care-thinks-pfizer-lipitor-strategy-172445712.html (2011, accessed 2 December 2011) .
26.Bowe C. Lessons in lifecycle management: case studies, http://www.scripintelligence.com/multimedia/archive/00142/056_Life_Cycle_Mana_142495a.pdf (2011, accessed 8 August 2011) .
27.Sanburn J. Lipitor already cheaper after patent expiration, http://moneyland.time.com/2011/12/01/lipitor-patent-expiration-wont-meancheaper-generic-yet/ (2011, accessed 4 December 2011) .
28.Mathew JC. Chemical ministry may ask industry to start process of bi-lingual labelling by April 18, http://www.cipi.in/news110406pb.htm (2006, accessed 18 December 2011) .
29.Mathew JC. IPA to submit sample bilingual packs by September 20, http://www.cipi.in/news310806pb.htm (2006, accessed 18 December 2011) .
30.Jayakumar PB. Centre now says bi-lingual labelling only a voluntary provision, http://www.cipi.in/news2612062pb.htm (2006, accessed 18 December 2011) .
31.Sharma A. Wait is on: pharma cos yet to go bilingual, http://www.tribune.com/2007/20070321/himplus1.htm (2007, accessed 18 December 2011) .