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Case Facilitation- Team 5
Transcript of Case Facilitation- Team 5
Strategy in the Twenty-First Century Pharmaceutical Industry: Merck & Co. and Pfizer Inc.
Developing a Drug
Manufacturing Drugs and Pharmaceutical Consumption
Selling and Marketing Drugs
Merck & Co.
Did the total time to develop a
drug from initial testing to
regulatory approval take
4-7 years or 8-11 years?
True or False: Biotech companies decreased the cost of money spent on development and launch of a new drug.
Where were several of the contract research organizations (CROs) located? Why?
India and China because of lower costs
Name one focus that pharmaceutical research programs could focus on
-therapeutic disease categories
-seek to exploit the science behind any newly discovered disease pathway regardless of therapeutic area
Name of the Act passed by Congress in 1984 that allowed for generics manufacturers to skip clinical trials and sell a generic brand as soon as a patent expired for a drug.
In 2005, did the percentage of manufacturing account for 10% or 30% of the cost of a drug?
How did pharmaceutical firms use developing countries to respond to criticism?
Pointing at the many programs they sponsored in developing countries to provide reduced-cost or free medicines
In Europe, due to the state provision of health care what did the government have the power to do?
-Limit prescriptions of newer, more expensive patented drugs
What was becoming a major US public-policy issue by 2006?
Access to prescription drugs
What does MCO stand for and what is their purpose?
-Managed Care Organizations, sought to curb health-care costs by contracting with employers to offer medical care to their employees
-Managed Care Organizations, Reduce costs of prescription drugs by contracting with pharmacy benefits managers (PBMs)
-Managed Care Organization, developed "disease management programs" to help patients with chronic diseases treat their conditions in a consistent, coordinated, and low-cost way
Word to describe when pharmaceutical companies have sales or "rep" forces call on doctors to promote the company's drugs in a practice
Due to several highly visible drug recalls what were pharmaceutical companies suffering a loss of?
How did MCO's affect sales reps?
As MCOs worked to have doctors see more patients per day, sales reps were left with less "face time" with physicians
What did reps do to confront the obstacles of doctor restriction of visits and some the idea of requiring licenses for all reps?
Used the Internet to virtually visit doctors
Who are opinion leaders?
widely respected physicians who were instrumental in the adoption of a new drug by setting prescribing standards
What did Merck & Co. establish a reputation for?
excellence in research "science-led"
How did Merck & Co. feel about merging with other drug firms?
"We don't see that large mergers add to long-term growth”
"science not size wins”
"Large-scale mergers haven't been successful in this industry"
What is one current challenge Merck & Co. faces?
-Litigation liability for the drug Vioxx
-Expiration of several of its most valuable patents
How did the FDA feel about Merck & Co. ?
What happened in 1996 that caused Merck & Co. to begin realizing the importance of marketing and sales?
Pfizer introduced a nearly identical but more concentrated drug, called Lipitor, that due to marketing efforts the sales of surpassed Merck & Co. drug Zocor by $7.8 billion
Why was Pfizer so effective at marketing?
-Largest sales force in the industry with nearly 9,000 reps
-A worldwide advertising budget across all media of $3.5 billion
-Sales force recognized for excellence and consistently ranked highly by physicians for being "enormous, well-trained, and aggressive"
In 2005, Pfizer Inc. was considered what?
largest pharmaceutical company in the world
What is one current challenge/issue Pfizer faces?
-Patent challenges on top-selling drug
-Charges that Pfizer reps had improperly promoted drug uses that the FDA had not approved
Pfizer Inc. was known as a "_____, not a ______" of new drugs
hunter not a gatherer
What did many analysts speculate was the cause of much of Pfizer's strong earnings growth?
Cost cutting after acquisitions