Question 5
The adoption of pradaxa is difficult as it interacts with various types of foods and regular monitoring of the drug for proper administration. Praxada is a newly introduced drug therefore, doctors continue to gain experience on its administration thus patients are opting to use other competing drugs like Warfarin. Market entry barrier poses a threat to the adoption of the pradaxa drug. Pradaxa being a newly introduced drug implies a high investment cost associated with its introduction to the market. The Federal government strictly regulates marketing registration of the drug and the authorization of the sale of these drugs. Many marketing risks associated with the drug poses some barriers as they inhibit or stimulate the adoption of the new researched drug. The pradaxa drug also faces the problem of patent protection duration since the administrative procedures take more time and this creates the barrier to quick adoption of the drug. Pradaxa drug is costly and this limits its adoption and improved sales in the local market since few people can afford to use it. The dosage accompanies specific food for it to be effective and through taking high dosage the patients seem to improve at a higher rate as compared to those who take small dosage (Leidner & galliers, 2003).
Question 6
From the above issues the development and marketing of pradaxa drug requires a strategic planning since it can take centuries to launch a newly developed drug in the market. The effectiveness of a drug reveals itself when tested on the patients and cures the described illness. Pradaxa is a drug used in the prevention of strokes and blood clot, and to ensure that the drug is effective on the patients a trial is made on more than ten patients with different levels of stroke and blood clot to find out the situation which guarantees its use. The drug faces stiff competition from other drugs like Warfarin in the drug market and this call for a solution to ensure that it makes the greatest sales. There are also competing companies like J&J and Bayer and Pfizer but their drugs fail to outdo pradaxa since they fail to overcome its strength. Presence of competition shows that the business is improving and the best way to ensure that the product is competing adequately in the market is through laying good marketing strategies. According to Hashad (2010) the marketing strategy is targeted to take three years with the first face being focused on the healthcare providers, the nurses, doctors and patients.
Lyles, Adam. “Direct Marketing of Pharmaceuticals to Consumers.” Annual Review of Public Health, volume 23. 2002. Print.
The pharmaceutical industry develops, produces, and markets drugs or pharmaceuticals compounds for medical purpose. Pharmaceutical companies produce generic, brand medications and medical devices. The industry is subject to a complex regulatory environment regarding the patenting, testing and ensuring safety and efficacy and marketing of drugs.
Direct-to-consumer prescription drug ads are dangerous and can have serious effects on the health of the general public. In the article “Pros & Cons Arguments: ‘Should prescription drugs be advertised directly to consumers?’”, the pros and cons of the advertising of prescription drugs are compared. The negative aspects of these ads outweigh that of the positives. DTC prescription drug ads misinform patients, promote over-usage, and pressure medical providers. The counter side argues that these ads inform patients, create a positive impact on patient compliance with medication, and cause patients to confront their doctors.
...ll help the company in selling generic drugs and provide affordable medications to its customer base.
PharmaCARE is one of the world 's most successful pharmaceutical companies that is enjoying a status as a nurturing, ethical and well-run business that manufactured high-quality healthcare products. Thus, saved millions of inhabits and enhanced the value of life for millions of people. The company provides free and discounted pharmaceuticals to low-income customers on the base of sponsors health care informative programs and scholarships. Two years before, after PharmaCARE 's research identified that one of its peak trading diabetes drugs (AD23) might slow the progression of Alzheimer 's infection. After identifying the weakness, its pharmacists began reformulating that pharmaceutical to maximize the effect. To avoid FDA inspection, PharmaCARE used US law to protect its intellectual property as it established a wholly-owned subsidiary, CompCARE that is set up beside its parent’s headquarters in a suburban agency park.
• It allows pharmaceutical companies to create awareness of their products among patients and healthcare professional, increase sales, create consumer loyalty and fight against the threat of generic products.
According to Brand India Equity Foundation, the Indian pharmaceutical market is likely to grow at a compound annual growth rate (CAGR) of 14-17 per cent in between...
This service is experienced, documented, evaluated and paid for as Pharmaceutical Care. Pharmaceutical Care consists of a philosophy of practice, patient care process as well as a patient management system. Pharmaceutical Care has common integrated vocabulary consistent with other patient care practices such as medicine, dentistry and nursing. Philosophy of pharmaceutical care consists of a description of the social need for the practice, a concise and clear statement of individual practitioner responsibilities to meet this social need, the expectation to be patient-centered and the requirement to function within the caring paradigm. This philosophy of practice is expected and practiced by all health care professionals. The patient care processes must be consistent with the patient care processes of all other health care providers. These processes include the assessment of the client’s pharmaceutical needs, a health care plan that is constructed to meet the specific needs of the client and a process in which evaluates the health care plan to gauge the efficacy of decisions made and actions taken. Pharmaceutical care management system includes all resources needed to manage the client’s needs, which include the space provided, such as a clinic or hospital, an appointment system for patients, appropriate and ethical documentation, reporting of patient care, evaluation of decisions made and actions taken and payment of service
The rationality of the product and its combination will now be discussed. The criteria used in order to gauge the safety and effectiveness of the medication
Throughout many generations the success of medicine has been dog-eared throughout history, from penicillin being created through colonized bacteria on an agar plate to chemotherapy being used to combat the ailments of cancer, we as a society rely a great deal on the effectiveness of medicine. Due to this realization one can agree that it is imperative that the medications that are being distributed and placed on the pharmaceutical market are tested and analyzed at all angles and perspectives to ensure they work effectively and successfully resulting in moderate to no side effects. The progressive industry of medicine has greatly increased since the early nineties thanks to the advancement in medical technology making
Interpersonal communication is described by Schiavo as a multi-faceted influenced concept. With cultural, community and literacy on the forefront of consideration, these are the means influencing perceived information (Schiavo, 2007). The perception of information can be altered by technology-mediated communication. The article I choose to review was designed to look at the direct to consumer product- specific television prescription drug advertisements during 2001.As the public spends numerous hours viewing television and is easily influenced with the numerous advertisements. Many of the drug advertisements have intent to effect health and specific diagnostic awareness. The current direction of health communication is that of empowerment of the rights of patients (Schiavo, 2007).
both the benefit and risk of all medication before approval.. In addition, FDA makes the labeling
In the business of drug production over the years, there have been astronomical gains in the technology of pharmaceutical drugs. More and more drugs are being made for diseases and viruses each day, and there are many more drugs still undergoing research and testing. These "miracle" drugs are expensive, however, and many Americans cannot afford these prices.
There is an increasing pressure within pharmaceutical markets to reduce prices in line with medical budgets, as well as maintaining patent expirations. Being a global brand means disturbance in the operations when the market fluctuates. There is an internal weakness in the pharmaceutical industry, which includes theft and counterfeiting of drugs, and therefore is a weakness of Johnson & Johnson. While Johnson & Johnson has these specified weaknesses they deal with, there are even more opportunities which gives them an advantage for strengthening their position in the market. They already have the strength of meeting a broader range of customer needs with their products falling under three categories. Expiring patents on brand name drugs lead to an increase in the sales of generic drugs, Johnson & Johnson could capitalize upon this opportunity. With diagnostic markets growing, this positions the company in a good place as well as new medical therapies and findings that align with some of the company’s primary capabilities. Threats the company faces is with product recalls, extreme competition in pharmaceuticals that results usually in the first to enter is generally where success is determined. With technology developments, biotech concepts might possibly move the traditional pharmaceutical methods out of the
Pharmacists often work together in a team with other healthcare professional like physicians and nurses. In the process, pharmacists will give advice to them on the selection of medication, by providing the evidences based on the dosage form, the side effects and possible interaction with food of the medication. On the other hand, pharmacists also take part in research and clinical studies. Recently, pharmacists are recruited to conduct pharmacy-based research in pharmacies. (Swanson, 2005)