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¶ … Product Potential
Criterion: Consideration of the Commercial Value of the Potential Type II Diabetes Drug
Is there considerable market viability of the potential drug when it is complete?
Yes, the drug will be significantly sustainable in the market place and therefore will generate considerable commercial value for the stakeholders. Different from other drugs in the market, this potential drug will have a positive impact on LDL cholesterol and will also help in weight gain for the patients. In addition, it will bring about lower blood sugar levels, which will also help in decreasing dizziness and other effects, such as nausea and bloating (Topinkova et al., 2008).
The drug will be significantly valuable in the marketplace as there is very minimal probability of copying or reproducing the drug anytime soon. The technological procedures employed to manufacture the product are groundbreaking and the company has the advantage of having it prior to its advancement in the market. In turn, this will generate a great deal of return in terms of revenue generated and therefore will have high commercial value to the company (Topinkova et al., 2008).
Question: How would the adoption of a personalized medicine approach influence the...
The adoption of a personalized or custom-made medicine strategy will have a constructive impact on the sales force of the drug. The researchers have grouped the diabetes patients who are to profit from the drug into smaller subsets centered on the subtype of their diabetes infection, that is type II diabetes, the response of their bodies to the infection and the stage or extent of the overall infection, that is, whether it is early stages or chronic (Kulkarni and Padilla, 2012). Taking this into account, we expect the sales of the drug to rise and have a significant positive impact on the revenues generated as the potential drugs will be prescribed as the best personalized therapy combination for each patient. This will not only improve the quality of life of the patients, but it will also prolong their average life expectancy. The implication of this is that the drug will have high sales once it enters the marketplace (Kulkarni and Padilla, 2012).
2. The personalization of this potential drug will positively influence the sales force. This can be perceived from preceding companies such as the successful companies that have generated personalized drugs for HIV / AIDS treatment. The…
References
Grom, T. (2016). Sales Reps: A Changing Conversation. PharmaVOICE. Retrieved 18 January, 2016 from: http://www.pharmavoice.com/article/2016-01-salesforce/
Kulkarni, A., Padilla, N. (2012). A Strategist's Guide to Personalized Medicine. Strategy+Business. Retrieved 18 January, 2016 from: http://www.strategy-business.com/article/00131?gko=75ee7
Riboud, C. (2014). Innovation in the Pharmaceutical Industry: A Change Toward Personalized Medicine. Parexel. Retrieved 18 January, 2016 from: https://www.parexel.com/parexel-insights/innovation-pharmaceutical-industry-change-toward-personalized-medicine
Topinkova, E., Madlova, P., Fialova, D., & Klan, J. (2008). [New evidence-based criteria for evaluating the appropriateness of drug regimen in seniors. Criteria STOPP (screening tool of older person's prescriptions) and START (screening tool to alert doctors to right treatment)]. Vnitrni lekarstvi, 54(12), 1161-1169.
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