Volume 7, Issue 2, August 2014, Pages 641–645
Karthaveerya Juluru1, Phani Kishore Thimmaraju2, Jayachandra Reddy3, and Anand SG Patil4
1 Project Manager at phamax, #19, KMJ Ascend 1st Cross, 17th C Main 5th Block, Koramangala Bangalore - 560 095, India
2 Consultant at phamax, #19, KMJ Ascend 1st Cross, 17th C Main 5th Block, Koramangala Bangalore - 560 095, India
3 Director at phamax, #19, KMJ Ascend 1st Cross, 17th C Main 5th Block, Koramangala Bangalore - 560 095, India
4 Managing Partner at phamax, #19, KMJ Ascend 1st Cross, 17th C Main 5th Block, Koramangala Bangalore - 560 095, India
Original language: English
Copyright © 2014 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
The need for market assessment techniques and tools to analyse the product sales is increasing every day. Patents, along with gold standard therapies, play a critical role in the pharmaceutical industry in determining product sales. However, once genericized, the existence of multiple products for same molecule is a situation unique to the pharmaceutical industry.
With the growing need for new methods of evaluations for mature products (Products with generic competition), the Evolution Index which is used to determine the performance of the product needs to be redefined and customised. Extrinsic factors like market dynamics influence company profitability and hence there is need for a heuristic approach to evaluate its performance. Considering the effect of competition on product performance in relation to market factors provides an optimized indicator to design an effective strategy.
The newly constructed formula eliminates bias by incorporating molecule level growth and its influence on the overall portfolio of a company, especially for mature products.
The new evolution index "mEI" serves the realistic picture of current market scenario and enables the companies to take a better decision based on existing competition.
Author Keywords: mEI, Evolution Index-mature products, Pharmaceutical Business Analytics.
Karthaveerya Juluru1, Phani Kishore Thimmaraju2, Jayachandra Reddy3, and Anand SG Patil4
1 Project Manager at phamax, #19, KMJ Ascend 1st Cross, 17th C Main 5th Block, Koramangala Bangalore - 560 095, India
2 Consultant at phamax, #19, KMJ Ascend 1st Cross, 17th C Main 5th Block, Koramangala Bangalore - 560 095, India
3 Director at phamax, #19, KMJ Ascend 1st Cross, 17th C Main 5th Block, Koramangala Bangalore - 560 095, India
4 Managing Partner at phamax, #19, KMJ Ascend 1st Cross, 17th C Main 5th Block, Koramangala Bangalore - 560 095, India
Original language: English
Copyright © 2014 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Abstract
The need for market assessment techniques and tools to analyse the product sales is increasing every day. Patents, along with gold standard therapies, play a critical role in the pharmaceutical industry in determining product sales. However, once genericized, the existence of multiple products for same molecule is a situation unique to the pharmaceutical industry.
With the growing need for new methods of evaluations for mature products (Products with generic competition), the Evolution Index which is used to determine the performance of the product needs to be redefined and customised. Extrinsic factors like market dynamics influence company profitability and hence there is need for a heuristic approach to evaluate its performance. Considering the effect of competition on product performance in relation to market factors provides an optimized indicator to design an effective strategy.
The newly constructed formula eliminates bias by incorporating molecule level growth and its influence on the overall portfolio of a company, especially for mature products.
The new evolution index "mEI" serves the realistic picture of current market scenario and enables the companies to take a better decision based on existing competition.
Author Keywords: mEI, Evolution Index-mature products, Pharmaceutical Business Analytics.
How to Cite this Article
Karthaveerya Juluru, Phani Kishore Thimmaraju, Jayachandra Reddy, and Anand SG Patil, “mEI (Evolution Index-mature products) - Redefined for Pharmaceutical Business Analytics,” International Journal of Innovation and Applied Studies, vol. 7, no. 2, pp. 641–645, August 2014.
