The application and definition of pharmaceutical portfolio management has evolved greatly over the past 20 years. It is becoming even more important in India in the face of the patents regime coming to an end in 2005. The TRIPS agreement brings about great implications for the pharmaceutical portfolio management of the Indian companies, as many drugs will be coming off-patents this year. It is imperative that the Indian pharmaceutical organizations handle this changing scenario to their best advantage and build a competitive advantage earlier on in this equal platform.

Apart from the impending patents regime end, other factors such as the impact of rising R&D costs and falling productivity levels has led Indian pharmaceutical companies to pay far greater attention to their portfolio management strategies, resource allocation and decision-making.

Today, no major Indian pharmaceutical or biotechnology company is without some centralized portfolio management function. The pharmaceutical portfolio management usually involves wide ranging responsibilities including strategy development, investment appraisal and resource allocation.

However, the people who continue to be most affected by portfolio management continue to be the executives in R&D and marketing. Pharmaceutical Portfolio Management involves Integrated decision-making in marketing and R&D, presents a comprehensive overview of effective portfolio management processes, with a focus on better preparing senior management, R&D and marketing executives for integrated decision-making across the organization as a whole.

This can be used to improve product lifecycle decisions and ensure the right people are involved in making the right decisions, at the right time. Effective portfolio management in the pharmaceutical industry will ensure generation of greater efficiencies, reduce costs and will ultimately increase profits of Indian pharmaceutical companies.
 

~ Category editor Sakina Kadiwala. copyright data indianchild.com

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