Subject category:
Strategy and General Management
Published by:
IBS Case Development Center
Length: 8 pages
Data source: Published sources
Topics:
AstraZeneca; Cholesterol-lowering drugs (statins); Blockbuster drugs; Crestor; Lipitor; Baycol controversy; Negative sentiments; Pfizer's marketing; Merck's Zocor; Bristol-Myers Squibb's Pravachol; Marketing budgets; FDA approvals (Federal Drug Administration); Merck's Vytorin; The Lancet; Clinical tests
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https://casecent.re/p/20075
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Abstract
London-based drug maker, AstraZeneca, is the fourth largest in the world and second largest in Europe. When the company announced its plans to enter the cholesterol-lowering drugs segment (also called statins) with Crestor in the US, it received mixed responses from the industry and analysts. Though a lucrative segment, the sensitivity attached to statins'' safety and usage was of particular concern to AstraZeneca. The drug faced a further setback after the European regulators demanded a labelling change and a reputed medical journal raised doubts about Crestor''s safety. This only complicated Crestor''s strategy as the established players, Pfizer and Merck, took advantage of the negative sentiment. The case study details the challenges faced by AstraZeneca in the process of taking the drug to market. The case presents the competitive scenario that prevailed at the time of Crestor''s introduction and highlights the promotional and marketing initiatives of the companies involved.
About
Abstract
London-based drug maker, AstraZeneca, is the fourth largest in the world and second largest in Europe. When the company announced its plans to enter the cholesterol-lowering drugs segment (also called statins) with Crestor in the US, it received mixed responses from the industry and analysts. Though a lucrative segment, the sensitivity attached to statins'' safety and usage was of particular concern to AstraZeneca. The drug faced a further setback after the European regulators demanded a labelling change and a reputed medical journal raised doubts about Crestor''s safety. This only complicated Crestor''s strategy as the established players, Pfizer and Merck, took advantage of the negative sentiment. The case study details the challenges faced by AstraZeneca in the process of taking the drug to market. The case presents the competitive scenario that prevailed at the time of Crestor''s introduction and highlights the promotional and marketing initiatives of the companies involved.