After publishing this post on product life cycle management, a couple of friends asked for examples of effective PLCM.
Effective Product Life Cycle Management in pharmaceuticals is particularly crucial for maintaining market relevance and maximizing profitability.
One example of successful PLCM that I witnessed first-hand is alendronate, marketed as Fosamax by MSD—a bisphosphonate used to treat osteoporosis.
Introduction: The Early Years of Fosamax
Upon its approval in the mid-1990s, Fosamax became a leading treatment for osteoporosis, offering a new approach to bone health. Its market success was driven by solid clinical trials, specialists’ adoption, and effective marketing campaigns emphasizing its ability to reduce fragility fractures in patients.
Mid-Life Adjustments: Sustaining Market Leadership
As Fosamax approached patent expiration, MSD implemented strategic moves to extend its product life cycle.
Key approaches included:
- Formulation Enhancements: The first step was addressing a key pain point of the drug—difficult administration. Alendronate must be taken in the morning on an empty stomach, with a full glass of water, and no other food or drinks for 30 minutes. The introduction of a once-weekly dosing regimen improved patient adherence compared to the original daily schedule, sustaining sales during the drug’s maturity stage.
- Combination Therapy: Merck later developed a new formulation combining alendronate with vitamin D, as osteoporosis guidelines recommend vitamin supplementation for all patients. This new formulation enhanced therapeutic benefits and extended the product’s lifespan.
Patent Expiry and Post-Marketing Strategies
When Fosamax lost patent protection, generic versions entered the market, significantly impacting originator’s sales. MSD responded by shifting focus toward the new formulations, ensuring continued relevance in the bone health segment.
Additionally, defensive strategies, such as campaigns addressing generic competition and continued brand equity investments, helped mitigate revenue loss.
Even more than 25 years after the launch of alendronate, research in pharmaceuticals continues to address its pain points and optimize its product life cycle management. Recently, a Swiss company developed a new effervescent buffered formulation to improve administration and patient compliance. This latest development exemplifies how innovation and customer centricity can sustain market relevance throughout a product’s lifecycle.
Lessons in Pharmaceutical Product Life Cycle Management
The journey of Fosamax highlights essential PLCM strategies:
- Strategic marketing to reinforce brand strength before generics emerge.
- Innovative formulation changes to enhance differentiation and market exclusivity through innovative dosage forms that can improve the quality of life for patients.
- Transition planning toward newer therapeutic options post-patent expiration.
For medical marketers, Fosamax serves as a compelling example of how proactive product life cycle management in pharmaceuticals can extend a drug’s market success, even in the face of inevitable generic competition.
By continuously evolving their strategy, pharmaceutical and device companies can maximize value and maintain the trust of both physicians and patients long after a product’s initial launch.
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