LLCM reflecting the latest thinking
The European director of the mature brands portfolio of a multinational pharma company wanted to revise the Late Life Cycle Management (LLCM) framework Vintura had developed over five years ago. The old methodology had proven its worth, but times have changed so the framework also needed to change to reflect the latest thinking.
Focused team to deliver easy-to-use (LLCM) framework
Together with one of the European managers we systematically reviewed the existing framework and associated tools to identify where changes were needed. Overall, every step of the framework was due for an update. We streamlined the LLCM methodology into a straightforward four-step approach to be initiated five years prior to Loss of Exclusivity (LoE):
- 1. Analyze the expected product environment
- 2. Select LLCM options to maximize brand value after LoE
- 3. Develop the selected options and prepare for implementation
- 4. Implement the options
A key addition to the framework was the inclusion of the ‘why’ of LLCM. Therein we showed examples of the enormous value of successful LLCM strategies. This ‘why’ was needed to stimulate brand leads of currently successful brands to plan for LoE well in advance.
Global roll-out of LLCM approach
The comprehensive and easy-to-use framework and tools were enthusiastically embraced, not only by the European brand teams, but also by teams in Latin and North America and Asia. The proof of the value of this new approach will come in the next few years as one of the client’s key brand will lose patent very soon.