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Essay / Research Paper Abstract
A 14 page strategic business plan for a hypothetical new pharmaceutical company. This examination finds fault with a previous strategy that had the company relying solely on the production of generic biotech products. The proposed strategy broadens this perspective and also examines the current status of this strategy in regards to federal regulations and possible competition. Bibliography lists 10 sources.
Page Count:
14 pages (~225 words per page)
File: D0_khxyz2.rtf
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relying solely on the production of generic biotech products. The proposed strategy broadens this perspective and also examines the current status of this strategy in regards to federal regulations and
possible competition. Current Strategy Studin (1995) poses a series of questions that aid in analyzing he effective of a current business strategy. For example, he asks: "How is the
business performing?" "What is the current strategy?" and how has this strategy worked for the company (p. 35). It has previously been proposed that the hypothetical start-up pharmaceutical company, the
XYZ Company, specializes in producing generic biotech drugs. Since the patents on a variety of biotech products are due to expire, it was assumed that this new company could be
successful marketing lower cost generics of these drugs. While this is true, it is also true that the government, specifically, the Food and Drug Administration (FDA), has yet to offer
firm guidelines that will make the manufacture and marketing of generic biotech drugs possible. A strategic plan should, therefore, take into consideration that this area of drug marketing may be
years in coming to fruition. Considering this fact, one must assume that the basic strategy proposed for this company has not been successful. Therefore, the previous strategic plan should
be amended. Research shows that an excellent strategy template to follow is that of Genentech (Stipp, 2003). Genentechs strategy has been to research and develop biotech drugs that target
a specific patient population (Stipp, 2003). For example, its breast-cancer drug, Herceptin, is appropriate for only 25 percent or so of patients, specifically it helps women whose tumors develop from
a particular genetic quirk (Stipp, 2003). This marketing philosophy contrasts sharply with the goals of some of the Big Pharma, which try to develop a one-size-fits-all blockbuster products, such as
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