Pharmaceutical product portfolio analysis
Pharmaceutical product portfolio analysis is the process of evaluating a company’s portfolio of products to determine which products are performing well, which are not, and which products may need to be added or removed from the portfolio. This analysis is typically conducted by pharmaceutical companies to optimize their product mix, reduce costs, and maximize profitability.
There are several steps involved in a pharmaceutical product portfolio analysis:
- Evaluate each product in the portfolio: This involves analyzing each product’s sales, market share, growth potential, profitability, and competitive landscape. Products that are not meeting their sales targets or are facing strong competition may be candidates for removal from the portfolio.
- Categorize products by therapeutic area: This involves grouping products by the therapeutic areas they address, such as oncology, cardiovascular disease, or infectious diseases. This step can help identify areas where the company may be over or underrepresented and determine where new product development efforts should be focused.
- Determine the strategic fit of each product: This involves evaluating each product’s strategic fit with the company’s overall business strategy. Products that do not align with the company’s strategic priorities may be candidates for removal from the portfolio.
- Conduct a SWOT analysis: This involves evaluating the strengths, weaknesses, opportunities, and threats associated with each product. This analysis can help identify areas where the company can improve the performance of existing products or develop new products to address unmet needs.
- Make strategic decisions: Based on the analysis, the company can make strategic decisions about which products to keep, which to remove, and which new products to develop. The company may also consider acquiring or partnering with other companies to expand its product portfolio.
Pharmaceutical product portfolio analysis is an ongoing process that requires continuous monitoring and adjustment as market conditions change and new products are developed. By regularly evaluating their product portfolios, pharmaceutical companies can stay competitive and maximize their profitability in a rapidly changing industry.
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