Subject: Pharmaceutical Industry. - "Big Pharma"
Problem: The main problem is more than $80 billion worth of blockbuster drugs faces patent expiration by 2008. These drugs risk losing 80% or greater market share when generic copies hit the market. With the industry developing fewer blockbuster drugs today, it is of grave importance that pharmaceutical companies protect those drugs whose revenue streams will enable them to keep developing new medicines over the next decade .
Alternatives: Line extension
3. New and Improved
4. More haste
5. Two is better than one
6. Old drug, new use
7. Targeting the consumer
Facts Considered: The United States, Western Europe and Japan consumed 84% of the world's total production of pharmaceuticals.
2. Many LDCs experiencing income growth, and expected to purchase larger quantities as time passes.
3. In many countries population was aging, causing an increases in chronic diseases thus increase demand for pharmaceutical products
4. Government funding agencies advocating greater use of medicines in place more expensive hospitalization and surgery.
5. Insurances companies in repayment of individual drug expenditures.
There is no doubt today's generic industry is worth a whopping $40 billion and this growth is expected to continue, with $80 billion worth of blockbuster drugs set to lose patent protection by 2008. In order for Pfizer to remain as one of the leading pharmaceutical companies and its dominant market share, now is the time to take lifecycle management very seriously. With so many blockbuster branded on the verge of succumbing to patent expiration, Pfizer require to cautiously devised line extension strategies to remain its market shares and profitability in the future.
- As well know blockbuster were reaching expire date 2008, more than $80 billion worth of blockbuster drugs risking losing 80% or greater market share...