21 Apr 2012
The Launch of Onglyza will definitely hold a broad market in India. In India with around 51 Million diabetes patients.. India promises to be amongst the most lucrative diabetes markets in the world. In 2011 the total sales of Insulin and Non-Insulin Anti-diabetics reached US$ 448 Million. Although, this represents just a fraction of the global sales.
1) IMARC expects DPP-IV Inhibitors to occupy 17% of the total Non-Insulin Anti-diabetics market by 2015.
2) The total number of diabetes patients in India is expected to reach 87 Million by 2030.
3) Enhanced Medical Infrastructure – Numbers of doctors.
4) Treatment of Chronic disease.
5) Greater Health Insurance coverage.
6) New market in existing white space.
Growth Strategy that should be following:
1) Product development (existing markets, new products)-
Bristol-Myers Squibb tied up with Astra Zeneca to develop compound for type-2 diabetes. In India they have existing market here they come with Onglyza (saxagliptin) as a new product.
2) India is the first Asian country where Onglyza is available.
3) Penetration pricing –In India Onglyza will launch at 1/5th of its price in US. One tablet would be price at Rs 38.
4) Onglyza will directly compete with Merck’s Januvia in India. In comparison with Januvia, Onglyza will get advantage because of its penetrating price.
The notion of diversification depends on the subjective interpretation of “new” market and “new” product, which should reflect the perceptions of customers rather than managers. Indeed, products tend to create or stimulate new markets; new markets promote product innovation.
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