A Review on Marketing Process in Pharma Indus...

A Review on Marketing Process in Pharma Industry of Generic Medicine

Author Name : Prince Yadav, Dr. Shashikant Maurya, Mr. Grijesh Yadav, Prof. (Dr.) Mohd. Wasiullah, Prof. (Dr.) Piyush Yadav

ABSTRACT The cost of pharmaceuticals, as a percentage of total health care spending, has been rising worldwide. This has resulted in strained national budgets and a high proportion of people without access to essential medications. Though India has become a global hub of generic drug manufacturing, the expected benefits of cheaper drugs are not translating into savings for ordinary people. This is in part due to the rise of branded generics, which are marketed at a price point close to the innovator brands. Unbranded generic medicines are not finding their way into prescriptions due to issues of confidence and perception, though they are proven to be much cheaper and comparable in efficacy to branded medicines. The drug availability at the community pharmacy was 73.3% when analyzed using WHO-HAI tool and the savings for the final consumers were up to 93.1%, when compared with most-selling brand of the same formulation.. The results of this study contribute to create baseline information for pharmaceutical industry especially Iranian pharmaceutical companies to be more effective in budget allocation on improving NPD success factors so that they can boost the success rate of NPD more effectively.