Presentation on theme: " The continuous innovation of new products is the cornerstone of pharmaceutical industry’s success and longterm viability."— Presentation transcript:
The continuous innovation of new products is the cornerstone of pharmaceutical industry’s success and longterm viability.
New consumer product New to the world (fax, DVD, VCR( New to the country New to the firm New category entry Product line addition )new icecream flavor( Product improvement (lighter and faster(
New products according to degree of innovation: Breakthrough products (new to the world( Pioneering Products (thinner portable computer ( Adaptive products (2 in 1 hair shampoo combination Imitative products ) me-too product(
Treatment potential Priority review drug (P( is a drug that appears to have therapeutic qualities that surpass available therapy. Standard review drug (S) All nonpriority applications are considered standard applications.
Idea generation Idea screening Buisness analysis Development commercialization
Is based on the identification of unmet therapeutic needs. Based on large amounts of epidemiological and therapeutic area market data Pharmaceutical marketers select a therapeutic area with an unmet therapeutic need, a significant potential for sale
Then they construct a product target profile
The process of unmet needs analysis, target profiling, and profile based development is called label-driven development.
Proactive (continuous performance improvement) Or Reactive (responsive, defensive, imitative, and not truly pioneering ) Most experts agree that continuous performance improvement is the optimal approach for long term innovation and profitability