The Medicines Company Case Write-Up: Terence Cho, Felipe Duarte, Aleks Loiko, Robert Shaw, and James Wang…
Enabling mighty competition between commonplace drug treatments and patent-expired fashioned brands is relevant to decreasing pharmaceutical charges and stimulating innovation. However, this mentioned, there are numerous troubling problems surrounding general medicines because of the convenient access to an abundance of illegal generics on the internet breaking the patent ownership and the unregulated companies that produce and supply them. At the same time familiar medicines will have to be approved identical types of depended on drugs, providing the equal fine, safety and efficacy because the normal, that is commonly no longer the case. A conventional drug must endure strict scrutiny before it is licensed and given market approval with the aid of countrywide medicines authorities. In brief, common medicines will have to comply with the same strict standards of great, safety and efficacy as usual pharmaceutical…
Standard – an established and proven norm or method, which can be a procedural standard or a technical standard implemented organization-wide…
-They would still be able to make profit while making the customers happier with more affordable epipens.…
We chose Johnson and Johnson as a company for our case analysis, and researches have shown that one of its main competitors is Pfizer, Inc.…
The OTC brand name that I chose for this assignment is Vick’s NyQuil Cold & Flu. The generic version I am comparing this to, is Equaline nighttime cold & flu relief, which is the Albertson’s generic version. Both Vick’s Nyquil Cold & Flu and Equaline nighttime cold & flu relief, have the same exact active ingredients. These ingredients include: acetaminophen (650mg), Dextromethorphan HBr (30mg), and Doxylamine succinate (12.5mg). The price of the brand named, Vick’s NyQuil was $9.99. The price for the albertson’s generic version, Equaline nighttime cold & flu relief was $3.99. Knowing that these over-the-counter medications contain the same active ingredients, I would spend less money and purchase the Equaline nighttime…
Do you think that either firm can attain a sustainable competitive advantage in this business?…
Marvin Koslow, vice president for marketing services at Bristol-Myers is going to choose a positioning strategy for Datril, an acetaminophen based analgesic, in order to solidify Bristol-Myers’ position in the analgesics market and gain share in the rapidly growing acetaminophen market. There are two possible options: ‘Pricing at par with Tylenol and it as a Tylenol substitute, featuring Bristol-Myers product’ and ‘low Priced alternative to Tylenol’. I strongly recommend that Bristol-Myers choose the former option with a modification.…
Prescription drugs whose patents have expired are highly elastic; however, prescription drugs whose patents still exist are highly inelastic. Many consumers will substitute generic brands for drugs that have had their patents expire. These generic drugs can be produced at a much lower cost and yet still contain the active ingredients and FDA approval to their brand name equivalent. As a result, supply increases along with demand and puts downward pressure on price. Because there are no substitutes for patented drugs, consumers have no choice but to pay the higher prices determined by supply and demand…
We could try to position them on the shelf in different areas so that customers don’t have to choose between the two products. We could position the new Allround + next to the Extra brand because then it would be in competition with that brand instead of competition with our Allround. This would also be good because in our marketing plan we discussed that our biggest competitor is Ethik so that would go in line with competing with them. We could also market to different kinds of customers. With the Allround + product, we could market to more active people that are out all day that need the 12 hours of help and with Allround we could just market to parents of children who are at home all day where it doesn’t matter if you took several doses a day. Another option would be to make the Allround + product a little more expensive because it…
I used the opinion of the Government Accountability Office to add credibility to the paper and one researcher’s perspective on dominating DTC advertisements to support my idea. However, to make a flow of sentences clear, I demonstrate how GAO’s agreement is effective to my argument by adding a follow-up sentence, “GAO also realizes that DTC advertisements mislead patients, spur unnecessary drug prescribing, which is more expensive and ineffective than older alternatives, and raise the cost of health care.” Also, I add an explanation that makes a clear connection between my argument and Almasi’s research: why the unequal chance of competition in the pharmaceutical industry has negative impacts on economic consequences. Furthermore, for better understanding, I elaborate why people who do not have enough skills to evaluate the drugs could indirectly affect the increase in the cost of health care. Also, as I focus on economic effects of DTC advertisements in this passage, I delete “social, and political consequences” at the last…
An issue with the distribution of drugs is that it is more profitable for drug companies to sell the drugs in MEDC’s than LEDC’s. An example of this would be GlaxoSmithKline, as they mainly sell their products in MEDC’s, but in many cases, the countries with…
Proper calculations should be always done while waging a war. Sun Tzu stated that an army that does many calculations to win a war while an army that makes few calculation looses the war. War means expenditure and financial burden on the state, so plan should be laid down keeping in mind that there should not be any haste in war or any long delays in war. Objective of any war should be victory not lengthy campaigns. He was of the view that to secure our self against defeat lies in our own hand but the opportunity of defeating the enemy is provided by the enemy first. Same applies for the competing companies also. The companies should do proper calculations before taking any major decisions. The companies should try to win and not compete. For this reason, many companies, to become the number one, is following the route of mergers and acquisitions. The famous Arsenal-Mittal deal is the best example of this strategy which made the company the largest producer of steel in the world.…
The popular brand name versus the generic battle is a concern in the prescription medicine industry. The uses of brand name drugs have decreased to 20% of total distribution. The expiration of patents of drugs, led to the decrease in brand name distribution. This affects the health care industry in an intense way. This multi-billion dollar industry is affected and patients and physicians must choose whether the generic brand will suffice. Choices by consumer are affected because the cost…
This Product Analysis Project is about the famous non-prescription analgesic manufacturer Panadol. Unlike its competitors, Panadol has a remarkable reputation and lower prices which are good for extending market share.…