Does Innovation Guarantee Blockbuster Products?

Does foundation guarantee blockbuster products? The importance of innovation in todays dynamic business world is full-blood recognised. However, evidence proves that innovational aspects of a product alone do not guarantee its market success. Of equal importance is the lucidity with which these features atomic number 18 communicated to the customers. The pharmaceutical attention is a domain of roomy innovations, which unfortunately has witnessed many an modernistic drug faltering due to sheer laxity of marketers who fail to communicate the critical differentiating features and the reflect benefits to the right customers. Added to this is the complacency which sets in with the initial success of the product. The wallpaper presented herein looked into the various market related aspects of the pharmaceutical application and the importance of innovation in the same. Also, it investigated the reasons for the waning of Merck KGaAs innovative drug-Glucovance in the US market. It provides ample evidence for the possible reasons aforementioned(prenominal) for the mischance of innovative products.

Keywords Innovation, Pharmaceutical industry, Anti-diabetics, Glucovance, Merck KGaA Introduction Pharmaceutical companies globally are having to face the challenges of thinning pipelines, patent expirations and threats from generic drugs, darn emerging trends such as mergers and acquisitions, which are shifting the concentrate of innovation towards biotechnology and ontogenyd pressure from customers for better apprise are sincerely reshaping the pharmaceutical market place. In this climate, a good room of meeting these challenges is to be innovative i n every prospect of operations, from produc! tion and marketing to distribution. In the pharmaceutical RandD context, innovation privy be defined as: a technological process that creates an entirely new product; a reduction in the cost of production; or an increase in the healthful value of an existing product. This work looks into the innovative aspects of Glucovance, a technologybased Oral...If you fatality to get a full essay, nine it on our website: OrderEssay.net

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