 The continuous innovation of new products is the cornerstone of pharmaceutical industry’s success and longterm viability.

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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(

 Chemical type:

 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

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