Introduction

Product lifecycle management (PLM) software and services solutions are still a nascent market for the pharmaceutical industry. Datamonitor believes that unless the industry adopts a strategic approach to PLM, the technology will remain a tactical solution whose potential is not maximized.

Scope

Examines essential ingredients of sales strategies for PLM vendors serving the pharmaceutical industry Identifies strategies vendors should use to develop more effective relationships and win business from life science companies Offers insight into the vendor attributes valued most by pharmaceutical companies when selecting a vendor

Highlights

Pharmaceutical product lifecycle management technology is gaining momentum PLM in the life sciences should map to business processes, managing process complexity PLM is successful when treated as an enterprise, strategic initiative

Reasons to Purchase

Understand how to position PLM solutions when targeting pharmaceutical and biotechnology companies Discover new ways to leverage relationships as a tool to drive market penetration Gain insight into Datamonitor's perspective on what makes a vendor successful

DATAMONITOR VIEW 1
CATALYST 1
SUMMARY 1
ANALYSIS 2
Pharmaceutical product lifecycle management technology is gaining momentum 2
A variety of challenges is fueling PLM adoption in the pharmaceutical industry 2
Cultural and technological barriers have inhibited wider adoption of PLM in the pharmaceutical market 2
PLM in the pharmaceutical industry is poised for strong growth and vendors have an important role to play 2
PLM in the life sciences should map to business processes, managing process complexity 3
Pharmaceutical companies produce what they discover, not what they invent 3
The pharmaceutical sector looks for PLM that can manage process complexity 5
PLM is successful when handled as an enterprise, strategic initiative 5
As part of a company's product development business strategy, PLM is discussed among executives 6
Collaboration, through enterprise PLM, breaks down individual silos 7
Reducing drug development costs is a major strategic goal for implementing enterprise PLM 8
The benefits of an enterprise-wide PLM solution do come with risks 8
A phased implementation approach is most likely for pharmaceutical organizations 9
Partnering with a technology vendor may be a necessary PLM strategy 10
A long-term commitment to the project indicates a willingness to share risk 11
Innovative and flexible vendors will attract most business 11
Implementation efficiency is an important vendor characteristic 12
Track record of success reflects on a vendor's reliability and trustworthiness 12
ACTIONS 13
PLM must support executive-level decisions 13
Have a long-term vision but establish short-term milestones 13
Look beyond point solutions for a strategic approach to PLM 13
APPENDIX 14
APPENDIX 14
Definitions 14
Abbreviations 14
Methodology 14
Further reading 15
Ask the analyst 15
Datamonitor consulting 15
Disclaimer 16
List of Figures
Figure 1: In the pharmaceutical industry, complexity in the process defines the product 4
Figure 2: Making a value proposition for PLM as a strategy in the pharmaceutical product lifecycle 6
Figure 3: As the Big Pharma begins to face its information management needs, enterprise PLM investments will grow 9
Figure 4: Examples of ``must-have`` and ``nice-to-have`` criteria pharmaceutical companies use for selecting a PLM vendor as potential partner 11