It is a common misconception in the biopharmaceutical industry that lifecycle management is really meant for the end of a product’s life, generally at the point where exclusivity is lost and generic competition erodes sales and, ultimately, the value of the brand.
According to Tim Arendt, Managing Director in the Commercial Advisory Group of Syneos Health Consulting, if done right, a lifecycle management plan developed early will actually pay off in spades in the end. Here, he discusses the importance of lifecycle management in biopharma and how companies can – and should – leverage this tool to ensure their products will reach their full potential, throughout their lifecycle.
If you want access to more future-focused, actionable insights to help biopharmaceutical companies better execute and succeed in a constantly evolving environment, visit the Syneos Health Insights Hub. The perspectives you’ll find there are driven by dynamic research and crafted by subject matter experts focused on real answers to help guide decision making and investment. You can find it all at insightshub.health.
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