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Future Of "Big Pharma" Essay

2421 words - 10 pages

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 extension2. Evergreening3. New and Improved4. More haste5. Two is better than one6. Old drug, new use7. Targeting the consumerFacts 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 products4. Government funding agencies advocating greater use of medicines in place more expensive hospitalization and surgery.5. Insurances companies in repayment of individual drug expenditures.Recommendations: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.ASSUMPTIONS- As well know blockbuster were reaching expire date 2008, more than $80 billion worth of blockbuster drugs risking losing 80% or greater market share when generic copies hit the market- That name-brand prescription drugs in Canada cost approximately 40% less than they do in America due to the fact Canada government general imposed price ceiling that lower than U.S. prices. The U.S. continues its method of free market with no intention imposing price on drugs. It is illegal for the transport of drugs from Canada to America.- As time go by a continue of blockbuster drugs will be found of cause of serious effects and will be withdrawn from the market, leading in billions in lost of sales and hundreds of law suits- Government involvement in payment for drugs and in drug pricing.- Time and cost to development process cost average of $900 million and 15 years will not improve significantly.- Probability of new drug making it through into final drug form also remind relative same- Niche drug market biopharmaceutical expected rise dramatically- As technology improve in communication such internet direct-to-customer (DTC) advertising will significantly affect traditional process of sales- In 1992, 32 big pharmaceutical...

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