Pharmaceutical Product Life Cycle Management Strategies in the Contemporary scenario

Abstract

The Product Lifecycle Management which is essential to enhance the lifespan of the patients which facilitates to face the completion which facilitates for pricing strategies and maximises the revenue of the organization and sustaining in the long-run further the cost leadership advantage facilitates a lot to gain the competitive advantage. Those firms which will take the competitive advantages to sustain in the long-run should study the concept of product life cycle management (PLM). There are various aspects like: workflow, information sharing, market analysis, information management related to product at various stages, new inventions and innovations, sophisticated technology available, patient requirements, cost concepts, market growth rate are the various aspects need to be studied under the product life cycle management(PLM). The aim of the present research is to explore the pharmaceutical products and its life cycle management at various stages in the contemporary context. The present research purely based on secondary data sources. The research can be better understood after all taking the advantage of primary data sources by applying SPSS AMOS and structural equation modelling algorithm.