Country/Product Brief Essay

2198 words - 9 pages

Country/product Brief

Abstract

This study will focus on globalization strategy of an Indian pharmaceutical company. This study will analyze market entry strategy and an opportunity lies in USA pharmaceutical market for an Indian pharmaceutical company. Organization selected for the study is Lupin Ltd which is an Indian MNC catering more than 70 countries across the globe. This study will show the market environment of USA and entry opportunities for Lupin in USA market and best suited marketing strategy for Lupin to cater USA market. This study will also focus on the competition level in pharmaceutical market and future prospect for Lupin to establish itself in the USA market as a ...view middle of the document...

Lupin Limited, headquartered in Mumbai, India, is mainly focusing on pharmaceutical research .Lupine has a modern research & development center in Pune and also catering global market in Anti-TB, Cephalosporins (anti-infectives) and Cardiovascular drugs. The financial facts are also very encouraging for Lupin Ltd with revenue of US$ 1.1 billion in for the financial year ended march 2010 (Lupin world, n.d.).

External Environment

External business environment for Lupin in USA will be largely affected by political, economic, sociological, technological, legal and environmental factors. The study will discuss the effect of each factor in USA market in following section.

Political

(About the political condition of USA)

The political factors include policies of government (Oxford University Press, n.d.). In USA market differential pricing concept is used to prevent entry of low price import pharmaceutical drugs in market. Low priced product import ultimately misbalances the equilibrium established in patent protected USA drug market and also affects the incentives to develop new drugs. Canada and other European countries is the major supplier of low price drug substitutes. Political reverse flow in USA market is also a notable thing as picture is clear to public about product availability to the poor and to the rich via better political import in a developing nation at a price band which is way below than a common American pensioner has to pay. There are efforts by USA governments to justify this differentiation to US public on humanitarian base. A pragmatic approach towards the problem is done by designing a U.S. program to subsidize the purchase price for U.S. public. There are still doubts over the efficiency of instruments like Medicare Prescription Drug, Improvement, and Modernization Act (MMA) of 2003 in context of the problem.

Economic

(About the economic condition of USA)

In USA market pharmaceutical sales in terms of Consumer health reached its pinnacle in 2011. The sales volume is completely unaffected by high unemployment rate or government funding strategies which made a sluggish economic rate for USA. Reverse effect of High healthcare costs and consumer quest for alternate healthcare solution resulted in sales of OTC drugs, vitamins and dietary supplements. Sports nutrition is another segment which is showing a high growth rate due to shifted consumer interest in exercise supplementation. Sales volume of vitamins and dietary supplements has outclassed OTC drug solution last year. USA consumer behavior has shifted towards natural healthcare solution and natural way of supplementation which ultimately cause the better sales performances of vitamin and dietary supplements. Growth of OTC was hampered by continuous product reminder by Johnson & Johnson Inc; private level growth is also responsible for low sales volume .In 2011 there was also lack of flu epidemic in USA which ultimately...

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