RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--More than three-quarters (77%) of surveyed pharmaceutical companies have created dedicated portfolio management teams, according to a study by Cutting Edge Information. Furthermore, 79% of these dedicated teams are centralized to so that drug manufacturers can better harness their product portfolios’ true potential.
The study, “Pharmaceutical Portfolio Management: Selecting Targets, Filling Pipelines and Preparing for Post-Launch Success,” found that a rash of recent patent expirations has left the pharmaceutical industry with some uncertainty. The subsequent flood of strong generic drugs in lucrative therapeutic areas combined with government payers who have increasingly tightened budgets leaves companies unsure of their future market potential. While these events are outside of companies’ direct control, pharmaceutical companies have turned to their portfolio management groups to identify product development and marketing risks.
“A centralized team ensures that the values of therapeutic area portfolios are weighed against each other,” explains Michelle Vitko, senior research analyst at Cutting Edge Information. “This means therapeutic areas are competing for resources, but it also ensures that companies are pursuing the best opportunities, regardless of therapeutic area.”
Though the majority of surveyed companies reported centralized departments, portfolio management teams’ alignments still varied. Cutting Edge Information’s data show that 47% of surveyed companies with dedicated teams reported a single centralized team. Another 32% of companies reported therapeutically aligned teams that worked to identify therapeutic area opportunities, but that ultimately reported into a larger centralized team who set the final corporate strategy. Of the remaining surveyed companies, 21% reported no centralized portfolio management team; 16% reported having therapeutically aligned teams; 5% reported regional management teams.
“Pharmaceutical Portfolio Management: Selecting Targets, Filling Pipelines and Preparing for Post-Launch Success,” (http://www.cuttingedgeinfo.com/research/portfolio-management/strategy-resources/) explores portfolio management team structure, budgets and best practices, as well as lifecycle extension strategies. Use this report to:
- Bridge the gap between clinical portfolio management and brand lifecycle management
- Prioritize, support and protect assets throughout the entire product life
- Improve cross-functional communication to build strategy and drive coordinated execution
For more information about pharmaceutical portfolio management, contact Cassie Demeter at +1 919-403-6583.