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1. Should you wait for the phase three trials? Or launch it at the earliest? Elaborate your action plan
BIOMAb entering the market without phase 3 tests lacks the credibility that its competitor has. BIOCON shouldnt launch BIOMAb immediately and should go for phase 3. The phase 3 results will prove reliability of the medicine and help it level with its main competitor (Erbitux) in terms of credibility. Parallel with the phase 3 tests they must establish themselves in the market by launching cancer generic medicines. After completion of phase 3, BIOMAb can be launched. Its advantages over Erbitux in terms of lesser side effects and lower cost can help them to enter the market and compensate for their late entry.
20,000 of 190,000 would be in advanced stages of cancer where BIOMAb in conjunction with radio or chemotherapy would be used.
3. Develop a launch plan detailing the price, channel & communication decisions
Price-$1000 Channel 1: Traditional
Biocon CFA Wholeseller Hospital Pharmacy Doctor
Contd. Communication- Detailing, help and support through website, consumer help lines, sales force and direct to consumer advertising, campaign using celebrities, sales rep spend 2-3 hours explaining the product to the patient.
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