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SWOT ANALYSIS OF
NEW PHARMACEUTICAL
COMPANIES
Sumer Internship Program Project Repot
2014-16
Prepared By -Dharmik D Bhatt
Submitted To Gujarat Technical University
Company - WellCare LifeScience
308 Abhushan Complex, Near Kalupur Bank, Opp SVC Bank Stadium Road, Navarangpura, Ahmedabad
College – Oakbrook Business School
Plot No. 225, Opp Maharaj Hotel lane, Jamiyatpura Road, S.G Highway, Gandhinagar
A
SUMMER INTERNSHIP PROJECT
ON
SWOT ANALYSIS OF NEW PHARMACEUTICAL COMPANY
AT
WELLCARE LIFESCIENCE
Submitted To
OAKBROOK BUSINESS SCHOOL (GTU)
A Project Report Submitted in Partial Fulfillment of the requirement of the award for the degree of MBA
Under
Gujarat Technological University
Under the guidance of
Faculty Guide Company Guide
Prof. Radha Gandhi Mr. Hardik Thakkar
Submitted By
Dharmik D Bhatt
Enrollment No. 148320592002
MBA Semester III
Year 2014-16
Year 2014-16
OAKBROOK BUSINESS SCHOOL
MBA PROGRAMME
Affiliated to Gujarat Technological University, Ahmedabad
Student Declaration
DECLARATION
I undersigned DHARMIK D BHATT student of Oakbrook Business School, second Semester
hereby declare that the report for “Summer Internship Project” entitled “SWOTT ANALSIS OF
NEW PHARMACEUTICAL COMPANY” at WELLCARE LIFESCIENCE. from 2nd
June,
2015 to 27th
July, 2015 is my own work and has been carried out under the guidance of Prof.
Radha Gandhi of Oakbrook Business School, Adalaj. This has not been submitted to any other
university for any other purpose.
Date: _______________ Sign Of Student: _____________
Dharmik D Bhatt
Enroll. No. 148320592002
Place: _______________
PREFACE
Summer Internship Program is a part of Masters of Business Administration academic study,
after completion of second semester of M.B.A. We are been require undergoing for training of 6-
8 week in any reputed company/industry in order to obtain practical knowledge and enhance our
learning. It is a right time where we can gain experience and can learn new things.
This type of training makes us aware about the extent to which theoretical knowledge can be
implemented in real time environment.
For this Summer Internship Program I joined WELLCARE LIFESCIENCE pharmaceutical
company. After doing my training I lent a lot and I have prepared report which contain the company
information and about my project.
My project is on doctors and retailers & Wholesalers that how they react and percept towards the
new pharmaceutical company which means SWOT analysis of new pharmaceutical company. New
pharmaceutical companies have lots of resistance against their growth. So we must have to do
something about that resistance. There are so many small and large scale companies are there in
pharmaceutical industries. Pharmaceutical product work on directly to the human health so quality is
most important things for the all companies Trust is the biggest thing in pharmaceutical industries, so
for new companies to built a trust is typical thing. For that we must have to know the perceptions and
reactions of doctor’s retailers and wholesalers towards the new pharmaceutical company.
AKNOWLADGEMENT
Every work is not a one day task & it may require help of some or other person. In entire duration of
S.I.P there were many who helped me as and when required.
A sincere thanks to Ms. Hardik Thakkar my project guide who helped me lot throughout this project
and guide me in right direction and not only that her expertise in this topic also helped me to gain in-depth
knowledge.
I am also thankful to my project guide Prof. Radha Gandhi who always be there to provide the
information as and when required.
My sincere thanks to all the respondents including doctors, retailers and wholesalers of my survey
because without their fair response and incorporation it will be very difficult to get correct idea about
their perception and reactions towards the new pharmaceutical company.
I would like to gratitude my earnest thanks to all the faculty members of OAKBROOK BUSINESS
SCHOOL.
Finally, my heartfelt thanks to all of them who helped me directly or indirectly, knowingly or
unknowingly in this project.
“With sincere Regards”,
DHARMIK D BHATT
Date ___________
Place ___________
Executive Summary
Learning and experience which we gain by doing things practically is always different than what
we have learned through theories. We have found this opportunity with company like Wellcare
Lifescience.
Wellcare Lifescience is the company that do job work for pharmaceutical products which means
they doesn’t have production unit they purchase the finished products and label them with their
own name and sale them. Company having not much experience but they doing tremendous sale
of their products for last one and half year. They also start exporting their product and expanded
their business. I got the knowledge about the new form of business.
Pharmaceutical market is tough market to business for the new company it become more tough
because pharmaceutical products are sold on the trust of consumers. Initial level of the new
company to create the trust or the good value is the most important thing. For that we must have
knowledge about the perceptions and reactions of consumers as the first consumers for
pharmaceutical products are doctors, retailers and wholesalers. So I decided to work on topic
“SWOT analysis of new pharmaceutical company” to get the idea of market conditions for a
new company.
I have done several type of work simultaneously with my project like sales, pricing of product
making product card and visuliser.
My project is divided in to two parts, one is the perception and reactions of Doctors and second
is perception and reactions Retailers & Wholesalers towards new pharmaceutical company, And
for that I have prepared two questionnaire for both one is for doctor and another is for retailer &
wholesalers for making my survey successful.
In the end I found strength, weakness, opportunities and threat of new pharmaceutical company
and also the same of Wellcare Lifescience. Also found the perception and expectation of doctors
and retailers towards new pharmaceutical company.
INDEX
CHAPTER
NO.
SUB
PART
CHAPTERS Pg.No
1 Introduction of Pharmaceutical industries 1
1.1 History of Pharmaceutical Industries 2
1.2 Worldwide pharmaceutical industries 5
1.3 Top pharmaceutical Industries 9
2 Introduction of Wellcare Lifescience 10
2.1 History 11
2.2 Company Profile 12
2.3 Organization structure 13
2.4 Organization chart 13
2.5 Mission, Vision and Value of Wellcare Lifescience 13
2.6 Type of work that Wellcare Lifescience do. 14
2.7 Marketing of Wellcare Lifescience 17
2.7.1 Marketing 17
2.7.2 Market Segmentation 18
2.7.3 Pricing Decision 19
2.7.4 Advertising 20
2.7.5 Sales Promotion 20
2.7.6 Distribution Channel 21
2.7.7 International Marketing 22
2.8 Financing of Wellcare Lifescience 25
2.8.1 Financing 23
2.8.2 Financial planning 23
2.8.3 Accounting policies 23
2.8.4 Working Capital 24
2.9 Wellcare Lifescience products 25
3 Literature Review 27
4 Problem Statement 34
5 Research Topic
SWOT Analysis of new Pharmaceutical Company
37
6 Research Objective 41
7 Research Methodology 43
7.1 Definition and type of research 44
7.2 Research Design 46
7.3 Sample Design 48
7.4 Research Limitation 50
7.5 Research Signification 50
8 Data analysis and interpretation 51
8.1 Doctors 52
8.2 Retailers & Wholesalers 61
9 Finding of 70
9.1 Doctor survey Data 71
9.2 Retailers & Wholesalers Survey Data 72
10 Conclusion 73
11 Suggestion And Recommendation 76
12 Bibliography and Reference 78
13 Annexure 81
Questionnaire of Doctor 82
Questionnaire of Wholesalers and Retailers 84
Products Detail 96
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1
ITRODUCTION
OF
PHARMAXEUTICAL INDUSTRIES
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1.1 History of Pharmaceutical Industry
Evolution of pharmaceutical Industry
In ancient India the sources of drugs were of vegetable, animal and mineral origin. They were
prepared empirically by few experienced persons. Knowledge of that medical system was
usually kept secret within a family. There were no scientific methods of standardization of
drugs
The western or the so-called Allopathic system came into India with the British traders who
later become the rulers. Under British rule this system got state patronage. At that time it was
meant for the ruling race only. Later it descended to the people and become popular by the
close of 19th century
Before 1940
Initially all the drugs were imported from Europe. Later some drugs of this system began to
be manufactured in this country
1901: Establishment of the Bengal Chemical and Pharmaceutical Works, Calcutta by
Acharya Prafulla Chandra Ray
1903: A small factory at Parel (Bombay) by Prof. T.K. Gujjar
1907: Alembic Chemical Works at Baroda by Prof. T.K. Gujjar
Drug enquiry committee
Government of India on 11th August 1930, appointed a committee under the chairmanship of
Late Col. R.N.Chopra to see into the problems of Pharmacy in India and recommend the
measures to be taken. This committee published its report in 1931. It was reported that there
was no recognized specialized profession of Pharmacy. A set of people known as
compounders were filling the gap.
Just after the publication of the report Prof. M.L.Schroff (Prof. Mahadeva Lal Schroff)
initiated pharmaceutical education at the university level in the Banaras Hindu University.
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In 1935 United Province Pharmaceutical Association was established which later converted
into Indian Pharmaceutical Association.
The Indian Journal of Pharmacy was started by Prof. M.L.Schroff in 1939. All India
Pharmaceutical Congress Association was established in 1940. The Pharmaceutical
Conference held its sessions at different places to publicize Pharmacy as a whole.
1937: Government of India brought ‗Import of Drugs Bill‘; later it was withdrawn.
1940: Govt. brought ‗Drugs Bill‘ to regulate the import, manufacture, sale and distribution
of drugs in British India. This Bill was finally adopted as ‗Drugs Act of 1940‘.
1941: The first Drugs Technical Advisory Board (D.T.A.B.) under this act was constituted.
Central Drugs Laboratory was established in Calcutta
1945: ‗Drugs Rule under the Drugs Act of 1940‘ was established. The Drugs Act has been
modified from time to time and at presents the provisions of the Act cover Cosmetics and
Ayurvedic, Unani and Homeopathic medicines in some respects.
1945: Govt. brought the Pharmacy Bill to standardize the Pharmacy Education in India
1946: The Indian Pharmacopoeia List was published under the chairmanship of late
Col.R.N. Chopra. It contains lists of drugs in use in India at that time which was not included
in British Pharmacopoeia.
1948: 1985
1948: Indian Pharmacopoeia Committee was constituted under the chairmanship of late Dr.
B.N. Ghosh.
1949: Pharmacy Council of India (P.C.I.) was established under Pharmacy Act 1948.
1954: Education Regulation has come in force in some states but other states lagged behind.
1954: Drugs and Magic Remedies (Objectionable Advertisements) Act 1954 was passed to
stop misleading advertisements (e.g. Cure all pills)
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1955: Medicinal and Toilet Preparations (Excise Duties) Act 1955 was introduced to
enforce uniform duty for all states for alcohol products.
1955: First Edition of Indian Pharmacopoeia was published.
1985: Narcotic and Psychotropic Substances Act has been enacted to protect society from
the dangers of addictive drugs.
Govt. of India controls the price of drugs in India by Drugs Price Order changed from time to
time.
PHARMACOPOEIA / FORMULARIES / COMPENDIA
The books containing the standards for drugs and other related substances are known as
pharmacopoeia and formularies - collectively these books are known as the drug compendia.
The pharmacopoeias or formularies contain a list of drugs and other related substances
regarding their source, descriptions, standards, tests, formulae for preparing the same, action
and uses, doses, storage conditions etc.
These books are prepared under the authority of the Government of the respective countries.
The word ―pharmacopoeia‖ is derived from the Greek words ‗pharmacon‘ meaning ‗drug‘
and ‗poieo‘ means ‗make‘. Literally it means that it is a list of medicinal substances, crude
drugs and formulae for making preparations from them.
These books are revised from time to time so as to introduce the latest information available
as early as possible after they become established. In order to keep the size of book within
reasonable limit it becomes necessary to omit certain less frequently used drugs and
pharmaceutical adjuvant from each new edition of the book. Therefore, in each new edition
of these books certain new monographs are added while the older ones are deleted.
For the preparation of these books the expert opinion of medical practitioners, teachers and
pharmaceutical manufacturers are obtained.
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1.2 Worldwide Pharmaceutical Market
The global pharmaceuticals market is worth US$300 billion a year, a figure expected to rise
to US$400 billion within three years. The 10 largest drugs companies control over one-third
of this market, several with sales of more than US$10 billion a year and profit margins of
about 30%. Six are based in the United States and four in Europe. It is predicted that North
and South America, Europe and Japan will continue to account for a full 85% of the global
pharmaceuticals market well into the 21st century. Companies currently spend one-third of
all sales revenue on marketing their products - roughly twice what they spend on research and
development.
The pharmaceutical industry in India is the world's third-largest in terms of volume.
According to the Department of Pharmaceuticals of the Indian Ministry of Chemicals and
Fertilizers, the total turnover of India's pharmaceuticals industry between 2008 and
September 2009 was US$21.04 billion. The domestic market was worth US$12.26 billion.
The industry has a market share of $14 billion in the United States.[4]
According to the India Brand Equity Foundation, the Indian pharmaceutical market is likely
to grow at a compound annual growth rate (CAGR) of 14-17 per cent in between 2012-
16. India is now among the top five pharmaceutical emerging markets of the world.
Exports of pharmaceutical products from India increased from US$6.23 billion in 2006–07 to
$10.1bn in 2013(according to IBEF India) a combined annual growth rate of
21.25%.According to Price water house Coopers (PWC) in 2010, India joined the top 10
global pharmaceutical markets in 2020 with turnovers reaching US$50 billion.
In 2009-10, India's biopharmaceutical industry grew at 17 percent, with revenues of Rs. 137
billion ($3 billion). Bio-pharma was the biggest contributor, generating 60 percent of the
industry's growth at Rs. 88.29 billion, followed by bio-services at Rs. 26.39 billion and bio-
agriculture at Rs. 19.36 billion.
In 2013, there were 4,655 pharmaceutical manufacturing plants in India, employing over 345
thousand workers.
Today the Pharma industry is scrambling to deal with big changes that include:
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4 Trends
1. The Patent Cliff Billions in revenues will be lost due to patent expiry and the growing
competition for low-cost generics. Pharma companies are trying different strategies and
expanding their portfolios beyond prescription drugs.
2. Power Shift from Doctors towards Payers and Patients The Patent Cliff is an
opportunity for payers and patients to accelerate generic penetration, stabilize costs, reduce
price benchmarks and insist on value for money.
3. Cost-containment to Curb Healthcare Deficits Payers must find ways to contain
healthcare costs. Exerting more control over the Pharmaceutical industry is one tactic they
will use.
4. Patients are Empowered Today‘s patients know more about their diseases, choices for
medication and methods of treatment. They are taking more control of their treatment.
Implications for Pharma Companies
As Pharma works to change strategies, many companies continue to struggle with
implementation. Pharma companies must:
Improve market access -Market Access is critical to sales and survival. It requires masterful
orchestration of a complex web of activities with both internal and external stakeholders.
Find growth in new areas -There is still growth ahead for Pharma in mature and fast-
growing markets, value innovation, OTC and health nutrition, generics, diagnostics, animal
health, vaccines, orphan drugs and new drugs.
Be more productive -Pharma companies must reduce costs while improving productivity.
R&D, marketing and sales, and manufacturing and supply chains all present opportunities for
greater efficiency and productivity.
Create partnerships -Partnering with universities or smaller companies can increase
Pharma‘s portfolio while reducing development costs and sharing risk. Partnering with payers
could bring mutual benefits.
Be “patient-centric” -Putting the patient at the centre of strategy and operations, and
focusing on health outcomes rather
than medicines, distinguishes a Pharma company from rivals and creates long-lasting value.
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Market Condition of Pharmaceutical Companies in India
Revenue of Indian pharmaceutical industry
The Indian pharmaceuticals market is expected to expand at a CAGR of 23.9 per cent to
reach US$ 55 billion by 2020.
Revenue share of Indian pharmaceutical sub-segments
With 72 per cent of market share (in terms of revenues), generic drugs form the largest
segment of the Indian pharmaceutical sector.
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Export data of Indian pharma industry
In terms of value, exports of Indian pharmaceutical products increased at a CAGR of 26.1 per
cent to touch US$ 10.1 billion during FY06-13.
Indian pharmaceutical market segments by value
Anti-infective drugs command the largest share (16 per cent) in the Indian pharma market.
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1.3 Top Pharmaceutical Companies
Worldwide top 10 Pharmaceutical Companies. In2014 on sales revenue
1 Johnson & Johnson Sales Revenue: $ 65.03 billion
2 Novartis Sales Revenue: $ 57.92 billion
3 Pfizer Inc Sales Revenue: $ 52.7 billion
4 Roche Sales Revenue: $ 50.50 billion
5 Sanofi Sales Revenue:$ 44.96 billion
6 MERCK Sales Revenue: $ 44.1 billion
7 GlaxoSmithKline Sales Revenue: $ 41.4 billion
8 AstraZeneca Sales Revenue: $ 25.7 billion
9 $Eli Lilly & Co Sales Revenue: $ 23.1 billion
10 Abbott Sales Revenue: $ 21.8 billion
India Top Pharmaceutical companies
1 Cipla Net sales = 66.86 billion INR
2 Dr Reddy‘s labs Net sales = 69.77 billion INR
3 Ranbaxy labs Net sales = 63.03 billion INR
4 Lupin Laboratories Net sales = 53.64 billion INR
5 Aurobindo Pharma Net sales = 42.84 billion INR
6 Sun pharma Net sales = 40.15 billion INR
7 Cadila Healthcare Net sales = 31.52 billion INR
8 Torrent pharma Net sales = 27.66 billion INR
9 Jubilant Life Net sales = 26.41 billion INR
10 Wockhardt Net sales = 26.5 billion INR
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2
Wellcare Lifescience
Wellcare Lifescience
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2.1 History
Company was founded by Mr. Hardik thakkar. He don B. Pharmacy and MBA . Young
person Hardik having Four year experience as Medical Representative (M.R) with
multinational pharmaceutical company. He having knowledge of pharmacy field as well as
management
He started wellcare lifesceince in May 2014 with five type of different pharmaceutical
product. He was the only person at initial level of the company. He believes in quality and
service. With a good response from Ahmedabad he decides to expand his business. And he
made partnership type of company
After few months Miss Geeta Ganatra also join Wellcare Lifescience and then gradually the
increase there product mix, with good success they move to forward. At the same time ex
MD of Krushi Bank of Gujarat Mr. Harish Ganatra also join to them.
In Feb 2015 with the help of Mr.shyam Ganatra they start exporting in south Africa. With
great support of partners now they have 15 products. And they are well settle in Ahmedabad.
Moto of Wellcare Lifescience is sale medicine at the most economical rate and to get blesses
from patient.
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2.2 COMPANY PROFILE
Name of company Wellcare Lifescience
Establishment year May 2014
Headquarters Navarangpura, Ahmedabad
Size of organization Small scale Company
Form of organization Partnership
Registered office 308 Abhushan Complex, Near Kalupur Bank,
Opp SVC Bank Stadium Road,
Navarangpura , Ahmedabad
E Mail I‘d hardik123pharmacy@gmail.com
Contact No. 07777916533
Number of Employee 5
Founder of company Mr.Hardik Thakkar
Investment 1500000
Product of company Tablets
Capsules
Suspension
Syrups
injections
Weekly Off Sunday
Banker -
Average turnover 600000 per month
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2.3 Organization Structure
Organization structure means how the unit runs its business. This is a partnership firm ,so two
directors are there in Wellcare Lifescience. They set all the stretegies of business with the
support of advisory director
Whithin country they handle the all orders of Doctors, Retailers and Distributors . But for
exporting of the products they have Export Director.
2.4 Organization Chart
2.5 Mission Vision and Value of Wellcare Lifescience
Our Mission
To become a leading global pharmaceutical company with the help of satisfied customer
blesses.
Vision
―Provide highest quality of affordable healthcare for whole humankind ―
Managing Director
Hardik Thakkar & Geeta Ganatra
Advisory Director
Harish Ganatra
Supply Products
to Doctors
Supply Products
to Retailers
Export Director
Shyam Ganatra
Supply Products
to Distributors
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WellCare LifeSciences is a pharmaceutical firm started with a MASSIVE dream and a vision.
We want to be able to make the affordable healthcare accessible in every part of India and the
world.
Values
Demonstrating integrity :: We are consistent and transparent in our decisions and actions.
We fulfill our commitments and conduct ourselves in a way that is true to our identity.
Striving for excellence :: We aim to deliver the highest quality performance in everything
we do. Through creativity and innovation we continuously seek to improve our results.
2.6 Type of work that wellcare Lifescience do
Wellcare Lifescience does not have any production unit or any research center they take the
order from the market and place the order to the manufacturer.
Here the product name is of wellcare lifescinece‘s name but on the lable there ir spesification
that product is of lable with wellcare life science but manufacture by the company is printed
over their.
Wellcare Lifescience got the all products from different manufacturer and then they do
marketing of the products with own name.
On the label they print ―Marketed By Wellcare Lifescience‖ and ―Manufacture By the
Company‖. Here The manufacturer are given bellow
List of manufacturer
1 India Life Bio Science, Gandhinagar
(Gujarat)
2 Wallen Healthcare, SAS Nagar (Mohali)
3 Fedley Healthcare, Delhi
4 Athens Labs (Delhi)
5 Edwin Healthcare SAS Nagar (Mohali)
6 Gujarat Pharmaceutical, Godhara
(Gujarat)
7 Taksh Alliance Industries, Parwanoo
(Himachal Pradesh)
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JOB WORk
In real business scenario, it may not be possible for an industry to carry all processes leading
to manufacture of final product within its own premises. In such an eventuality the
manufacturing unit will have to get the work done i.e. processing of the raw materials or
intermediate product from outside. The processes performed outside are called Job Work.
Definition Given By Excise
In the context of the Central Excise law, Job Work has been defined under Rule 2(n) of
the Cenvat Credit Rules, 2004 to mean processing or working upon raw material or semi-
finished goods supplied to the job worker, so as to complete a part or whole of the process
resulting in the manufacture or finishing of an article or any operation which is essential for
aforesaid process.
Looking at the above definition we can say that Job Work or Sub Contracting is an activity of
taking an order to manufacture or process goods as per the prescription of the client by
utilizing material supplied by the client or purchased on behalf of the client and charging him
for the services provided as Job Work or Sub Contract.
Job Work Flow (process) is common for industries giving/receiving job order, whether
falling under Excise or not. Job work Flow is as shown below
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Reasons for the delegation of job
 Job Worker has specialization in the work delegated
 Time Constraint on the part of Principal to manufacture the goods
 Principal does not have the facility to produce the specific semi finished goods
Difficulties in Job Work Process
Job Work OUT
Following are the problems faced when job is delegated to a Job Worker
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 No standard practice to delegate a Job
 Monitor & Analysis of Material
 Cost/Profit Tracking: Principal manufacturer can ascertain the cost of manufacture of
a job delegated. These statistics can be used to compare and analyze the cost as against cost
of manufacture of goods in house or by other Job workers.
 Meeting Statutory Requirements
Job Work IN
Following are the problems faced when a Job is received by the Job worker from the
Principal Manufacturers
 No standard practice for receiving a Job
 Monitor & Analysis of Material Received
 Job Worker Invoice
 Cost/Profit Tracking: Job Worker can ascertain the cost of manufacture of a job
received. These statistics can be used to compare and analyze the cost/profit of job work
carried out for different Principal Manufacturers.
 Meeting Statutory Requirement.
2.7 MARKETING OF WELLCARE LIFESCIENCE
2.7.1 Marketing
Marketing is a dynamic process. Today‘s era is basis on marketing because without
marketing any consumer will not have any information regarding your product. So, it would
be difficult for a business to sell their product without marketing.
In pharmaceutical industries marketing is somewhat tough then other industries because
pharmaceutical products are unsought products so it require to get all information about all
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medical conditions , views of the doctors patients and distributor retailers , how they react
towards the pharmaceutical product because pharmaceutical product are sale under the trust
and satisfactory result only .so for pharmaceutical product marketing is most important thing
that everyone get attract with them but in ethical and legal way
―Marketing is so basic that it cannot be considered a separate function. It is the whole
business seen from the point of view of its final result, that is, from the customer‘s point of
view.‖
Marketing management has two concepts:
Traditional Marketing Approach.
Modern Marketing Approach.
―In pharmaceutical industries traditional marketing approach is not that much useful because
drugs and medicines are manufactured by the present medical conditions like which disorder
are more frequently occur according to essential drug list and time by time some drugs
produce their resistance so total study is require‖.
2.7.2 MARKET SEGMENTATION
In Pharmaceutical market segmentation is donning according to the different drugs
therapeutical use with different age and their different dose forms .according to the
geographical place there is variation in the drug dose and formulation.
There are several bases for segmentation the market which are as follows:
1 Geographical With different geographical conditions drug doses and formulations are
different
2 Demographical With different age every drug dose are different
Other two are Psychographic a behavioral both are normally not for pharmaceutical industry.
Because Pharmaceutical products are use in the medical treatment but in cosmetic products
this type of segmentations are being in use.
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Pharmaceutical Market is not like B2C type of market here the doctors are the most important
part of the business. They prescribe and with the connection of retailer and distributor the
business is working.
Wellcare Lifescience having the general useable drugs which is prescribe by the doctor
frequently
NSAIDS, Antacids, protein and vitamins, anti emetic and for pregnant women type of simple
segmentation.
2.7.3 PRICING DECISION
Pricing is an important decision that every company has to take high price or low price to
create a bed prestige of the company. The price of a product is a crucial decision.
Wellcare Lifescience have some pricing strategic method that are given bellow
Cost Plus Pricing
This is the pricing method where price is set with some addition of profit with their actual
cost
Target Return Pricing
Set your price to achieve a target return-on-investment (ROI).
Going Rate Pricing
They set the price as per the sane product of other company price
Price Discrimination
They set a price of the product according to the amount of product order.
Value Pricing
For some product with high quality with high perception rate of consumer value of product is
high.
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2.7.4 Advertising
Advertising is non-promotion of goods and services, by a sponsor (a firm or person) who can
be identified and who has paid for this communication. This purpose of advertisement is to
sell something a good service, idea person or place, either now or later this goal, reached by
setting specific objective that can be expressed individual ads. Those are incorporated into an
advertising campaign recall again from the buying decision process that buyers go through a
series of stages
‗Wellcare Lifescience having no specific advertisement but the connect directly to the
retailers and distributers with visualate of the products and with product card distribution
with a reference ‘.
2.7.5 SALES PROMOTION ACTIVITES
―Sales promotion is an exercise in information, persuasion and influence.‖
-William J. Stanton
Sales Promotion Strategies:
There are three types of sales promotion strategies: Push, Pull, or a combination of the two.
A push strategy involves convincing trade intermediary channel members to "push" the
product through the distribution channels to the ultimate consumer via promotions and
personal selling efforts. The company promotes the product through a reseller who in turn
promotes it to yet another reseller or the final consumer. Trade-promotion objectives are to
persuade retailers or wholesalers to carry a brand, give a brand shelf space, promote a brand
in advertising, and/or push a brand to final consumers. Typical tactics employed in push
strategy are: allowances, buy-back guarantees, free trials, contests, specialty advertising
items, discounts, displays, and premiums.
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Wellcare Lifescience is usage of this above two strategies for covering the whole business
market in Ahmadabad and outside Ahmadabad
Wellcare Lifescience Providing discount on bulk purchase and also they providing some
offers to the doctors and to the retailers.
2.7.6 DISTRIBUTION CHANNELS
Distribution channels are system of economic institutions through which a producer of goods
delivers them in to the hands of their users.
Wellcare Lifescience is the company doing job work they receive the order from the market
and put the order to the manufacturer. So company initially send product to the doctors and
retailers, Here Products are used by the patient but it must be dispatch by doctor or retailer‘s
reference or preference or precessions. So The channel is fixed for all pharmaceutical
products, But There is only one change in Wellcare Lifescience distribution channel
wholesalers are not there.
Level of Channels are as under
Wellcare lifescience  Doctors  Patient
Wellcare Lifescience  Distributor  Retailers  Patient
Wellcare Lifescience  Retailes  Patient
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2.7.7 INTERNATIONAL MARKETING
International marketing means dealing and selling between two or more countries with
agreement for the product or service is called international marketing.
Wellcare Lifescience has good international marketing in South Africa around 20 % of its
sales.
COMPETITORS
It is rightly said that, ―without competitors market does not survives‖. And another thing is
that in to present market era is perfect competition. In to present marketing era competitors
are the key factor for each business. Now a day‘s consumer have alternatives so all the
company try to get more market share as compare with the another company.
Pharmaceutical market is toughest market where so many small as well as large companies
are in competition.
Small level company for new market for Wellcare Lifescience in Vadodara
Unison Manish Pharma, Unicure, Elysium, Briyosis
Large Scale Companies
Mankind, Sun Pharma, Dr.Reddy, Torrent Pharma, gsk, Intas pharma
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2.8 FINANCING OF WELLCARE LIFESCIENCE
2.8.1 Financing
The finance function covers both acquisitions of funds as well as their allocation. Thus apart
from the issues involved in acquiring external funds, the main concern of finance manager is
the efficient and wise allocation of funds to various used Defined in a broad sense. It is
viewed as an integral part of overall management. To make wise decisions, a clear
understanding of the objectives are sought to be achieved, is necessary. The objectives
provide a framework for optimum financial decision-making.
2.8.2 FINANCIAL PLANNING
Financial planning means deciding in advance, the financial activities to carried on achieving
the basic goal of the company. Financial planning is top make Sure that adequate funds are
raised at the minimum cost and that used widely
―The problem of any business is not the examination of profit but the achievement of sufficient profit
to cover the risk of economic activity and thus to avoid loss.‖ -
Peter F. Drucker
There are main two types of financial planning as below mentioned:
Wellcare LifeScience belive in short term Financila planning
They set several allocation of funds and acording to that they predecide the profit margine
2.8.3 Accounting policies
The specific policies and procedures used by a company to prepare its financial statements.
These include any methods, measurement systems and procedures for presenting disclosure.
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Wellcare Lifescience follows the government norms and instruction which are mentioned in
to the GAAP (Generally Accepted Accounting Principles). This company follows the all
rules and regulation of government.
2.8.4 Working capital
Working capital is the amount of funds necessary to cover the cost of operating the
enterprise. Working capital management usually concerned with the administration of this
assets viz. cash and marketable securities, receivable and inventory.
Financial Record of Wellcare Lifescience
PARTICULERS AMOUNT
Sales 6800000
Investment 3500000
Purchase Expense 10000
Opening Stock 900000
Closing Stock 400000
Selling Expense 100000
Manue & Other Expenses 90000
Current Assets 1000000
Current Liablities 500000
Capital 1500000
Fixed Asset 3000000
Secured Loan 400000
Unsecured Loan Nill
Gross Progit 1000000
Net Profit 545000
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2.9 PRODUCTS OF WELLCARE LIFESCIENCE
Sr.
No
Product
Name
Product Use Product Image
1 Carecef–
200
Used to treat a wide
variety of bacterial
infections.
2 Acepar–
SP
This drug is used to treat
mild to moderate pain
and to reduce fever.
3 Ondi-
MD4
Used to treat and
prevent chemotherapy-
induced nausea and
vomiting and
radiotherapy-induced
nausea and vomiting.
4 ACIARE-
DSR
Usr in treatment of
duodenal ulcers and
erosive or ulcerative
GERD
5 ACENEC-
P
It is used for the relief of
pain and inflammation in
rheumatoid arthritis,
osteoarthritis and
ankylosing spondylitis.
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6 WellVita
For
Pediatric
Used in treating or
preventing low levels of
vitamins and minerals in
the body.
7 Besty
For
Pediatric
For increasing the level of
vita B this drops are being
in use.
8 Teniwell
CV
For
Pediatric
Treatment of children
with recurrent or
persistent acute otitis
media.
9 Well-D3
For
Pediatric
Use in deficiency of Vita-
D
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3
Literature Review
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Reviewing the literature:
-Essential preliminary task in order to acquaint yourself with the available body of
knowledge in your area of interest.
-Literature review is integral part of entire research process and makes valuable contribution
to every operational step.
-Reviewing literature can be time-consuming, daunting and frustrating, but is also
rewarding. Its functions are:
a. Bring clarity and focus to your research problem;
b. Improve your methodology;
c. Broaden your knowledge;
d. Contextualize your findings.
For SOWT analysis of new pharmaceutical company literature are given bellow
© Kyoung Kim Yee, Lee Keun, Park Walter G and Choo Kineung found that
appropriate intellectual property protection and economic growth in countries at
different levels of development, http://www.sciencedirect.com.
It was found that patent protection is an important determinant of innovation and that
patentable innovations contribute to economic growth in developed countries, but not in
developing. Instead, in developing economies, a minor form of intellectual property rights
(IPRs). It was found that utility model innovations contribute to firm performance when firms
are technologically lagging and that those minor innovations can be a learning device and
thus a stepping stone for developing more patentable inventions later on. Thus the lesson here
is that patent protection enhances innovation and economic growth in countries where the
capacity to conduct innovative research exists. Where this capacity is weaker, a system that
provides incentives to conduct minor, incremental inventions is more conducive to growth.
The significance of this paper is to emphasize the importance not just of the strength of IPRs
but of the appropriate type of IPRs for economic development
© According to Schuiling and Moss (2004), 2013 Society of Interdisciplinary Business
Research (www.sibresearch.org)
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Pharma companies have not worked proactively in identifying a brand and identity for their
products and in communicating this identity to consumers. In particular, generic drugs in the
competition, it is extremely important for pharmaceutical companies to understand the
difference in consumer‘s perceptions and purchase intentions between branded and generic
drugs, as this understanding can help the pharmaceutical companies to better estimate the
financial impact of drug when launching a more likelihood of consumers purchasing a
branded drug, the more confident a pharmaceutical company will be in making an investment
in the branding process. Zara Ladha in 2007 studied perceived difference between generic
and branded drugs in terms of efficacy, willingness of people to pay for branded drugs and
trust of people in doctor prescribed drugs. Important factors studied were attributes like price,
name, and doctor‘s prescription, past experience, advertisement and promotion. The
conclusions were like the only influencing factor given more importance for prescription
versus non-prescription medicines Other factors like in store promotion, price,
family/friend‘s, brand name and advertising play a significant role in purchase making.
© E. Osinga from Tilburg Universityin in 2010 measure Influences of pharmaceutical
marketing on the prescribing behavior of physicians in the United States and in the
Netherlands
Partly due to high administrative costs that originate from private insurances, and increasing
costs for medical technology and prescription drugs The United States has the most
expensive health care system in the world (The U.S. health care system : Best in the world, or
just the most expensive?, 2001). This leads to the fact that many people in the United States
cannot afford health insurance. In the Netherlands health care is provided by private health
suppliers. Everybody who lives or has a job in the Netherlands is legally obliged to purchase
basic health insurance. Though, health insurance is obliged, a significant number of people is
still uninsured. Concerning pharmacist power, pharmacists are allowed to substitute a
prescribed drug in both countries. A difference is that in the United States the power of the
pharmacists is more heavily regulated. One of the major distinguishing factors when defining
both markets is that in the Netherlands direct-to-consumer advertising is not allowed. In the
United States DTCA is allowed, which brings forward increases in sales volume, yet it also
leads to the negative effect that in the United States drugs are prescribed irrationally more
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often. Physician education does not differ tremendously between the Netherlands and the
United States, however in the United States the market is more transparent compared to the
Netherlands.
© Aikin, K. J., Swasy, J. L., & Braman, A. C. (2004). Patient and physician attitudes
and behaviors associated with DTC promotion of prescription drugs.
Pharmaceutical companies continue to increase funding for direct-to-consumer advertising.
Evidence discussed above suggests that direct-to-consumer advertising stimulates patient
demand for pharmaceuticals, may influence physician prescribing habits and likely increases
drug spending. Consumers are aware of these advertisements, and discussions about them are
becoming part of the routine provider-patient relationship. As the phenomenon of direct-to-
consumer advertising evolves and the prevalence increases, providers need to continue in
their role as advocates for patients. To do this effectively, providers should stay educated
about new medications and the evidence for their use. Providers need to understand that
patients may not have adequate information about a particular drug from advertisements,
especially risks, and that specific reinforcement of the risks of a drug is key to assuring the
patient makes an informed decision. Additionally, providers may want to prepare printed
material for patients ahead of time for some of the most heavily advertised drugs. This may
save time during the visit for other concerns and reinforce the provider‘s role as advocate
rather than create tension during a visit.
© Aditya Bhattacharjea and Fiyanshu Sindhwani. (2014) research on “Competition
Issues in the Indian Pharmaceuticals Sector “
In Pharmaceutical market there is so tough market competition so each company wants to
lead. For making ethical competition they made some laws related to that and for that laws
they set specific categories type of principle and all companies must have to follow that all
things. The maximum copy rights case we see in pharmaceutical formulation , so to make all
thing ethical with respect to original formulation all industries must have to work that they
saw in the research. Pricing is the biggest issue that they found they saw every company
having different price with same therapeutic use and with same API content so as per the
company product quality and company pricing strategy companies are came forward with the
market responds,
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© Sanjiwani Jayant Kumar KJ Somaiya Studies and Research on Product and Brand
Positioning Typologies with Respect to Pharmaceutical Companies in 2013
Success of a company is dependent on successful positioning typology. Success of the
company which is measured in terms of financial performance depends on positioning
typology which majorly is Company image / reputation, product quality, efficacy, reliability
and quality of the product. Success of the company is dependent on the trust in the company.
Trust is a measurable variable and is understood as reliable company, honest company and
altruism. There is a significant difference between different positioning strategies in terms of
output expected. More competent company generates more trust in physicians mind. Trust in
the company is reflected through financial performance of the company.
© D. K. Nauriyal and Dukhabandhu Sahoo (2015 ) research on The New IPR Regime
and Indian Drug and Pharmaceutical Industry: An Empirical Analysis.
Has the new IPR regime helped the firms of the D&P industry to perform better? Yes, if the
performance is measured in terms of their sales revenue. The study confirms that even though
the R&D expenditure of the firm is less effective than the advertisement and marketing
expenditure, expenditure of the firm on this head in the long run can be more productive in
the form of more commercial patent patents and higher revenue. Furthermore, the study also
calls for more marketing and advertisement expenditure on the part of the firms to create a
‗niche market‘ for their product with ‗brand loyalty‘ among the consumer
© JSB Intelligence UK in 2005 studied on Strategic Analysis of the Pharma Market,
Future Revenue Models and Key Players “
Products are given higher priority over all approaches towards success including choice of
right partners, branding, CRM, and pricing. The new product lines are focused on modifying
disease based on NMEs, than geared towards symptoms. They will target therapeutic classes
such as cancer, infectious, female/male health, cardiovascular, metabolic, inflammatory, and
lifestyle diseases. New revenue models are favoring pharma companies despite the fall of
block busters. Pharma companies need to significantly cut down their costs, by as much as
13.5% of the revenues, and offset future loss of revenues caused by withdrawing block
busters. The winning proposition will come in the form of short and long term strategies.
Short term strategies are mainly geared towards pre- and post-patent expiry directives, and
the launch of semi block busters. Long term strategies revolve around owned health care
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kiosks and consistent improvement in efficiency and cost reduction with the help of the
integrated network mode
© Li Ying in 2013 don Analysis of Marketing Strategy Plan of Pharmaceutical
Company
They found, a marketing strategy plan for Jiangxi Chenxin pharmaceutical company in the
medicinal market. The analysis of the case company helps the author realize today's situation
of the market. Internal analysis, PESTLE analysis, market analysis and SWOT analysis are
necessary to obtain a complete understanding. Through the interview and questionnaire, the
author get realizing the real situation of the case company.
The case company needs to pay more attention to customers and its brand images than it does
today. The final future marketing strategy plan should be changed based on the economic
development and the industry changes. The case company needs to change 41 the traditional
marketing strategy system that seems to be unsuitable for them to become a manufacturer. It
has changed the services at different levels, for example, different products for different
customers. The case company can use strength to maximizing brand potential. The case
company should develop products, to achieve growth, create value and obtain economies of
scale.
© by Kapil Kumar DR. M. K. Kulshreshitha in 2013 don reearchon SWOT analysis of
Indian Pharmaceutical Industries.
Pharma manufacturers are likely to benefit from rise in demand for generic products. Some of
the factors that would drive growth in the domestic pharma industry are: 1) low cost
operations 2) research-based processes 3) improvements in API and 4) availability of skilled
manpower. The domestic formulations and bulk drugs markets are currently facing price
pressure as benefits of cheaper drugs have been shifted to end-users and trade channels.
Hence, consolidation, partnership and alliances are expected to gather momentum in the near
future. Off patenting of branded drugs would increase demand for generic drugs. This
provides immense opportunities to the Indian pharmaceutical companies especially given
their prior experience in generic drug development. Some other factors such as high
penetration in the global markets and increase of share in Abbreviated New Drug Application
(ANDA) filings are likely to power growth of the formulations market. Major growth drivers
for the Indian bulk drug industry include rise in demand for contract manufacturing, increase
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of share in Drug Master Files (DMF) filings and process innovation. Furthermore, initiatives
of the Government will act as a backbone for growth. Some such initiatives include: 1)
allowing 100% FDI under the automatic route in drugs and pharmaceuticals including those
involving use of recombinant technology 2) increasing weighted tax deduction on
expenditure in in-house R&D activities to 200% in the Budget 2010 and 3) setting up a US$
639.56 mn venture capital fund to support drug discovery and strengthen pharmaceutical
infrastructure.
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4
Problem Statement
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THE RESEARCH PROCESS AND FORMULATION OF RESEARCH
PROBLEM
The research process is similar to undertaking a journey.
For a research journey there are two basic thing I kept in my mind which are the question and
how I have to solve it?
1 Research is on the basis of what kind of things helpful for the new pharmaceutical company
and which are the things that push back to the bottom to a new pharmaceutical company
Which kind of things are there in doctors and in retailers mind for new pharmaceutical
company?
Which kind of market that Vadodara have for new pharmaceutical company?
mWhat is their perception towards new pharmaceutical company?
2 We have to know which are the strength and weakness, which are the opportunity and
threats are there for new pharmaceutical company. It means we have to find the external and
internal attributes which helpful and harmful for the company.
Formulating Problem Statement
So many pharmaceutical companies are there in Indian Market so for a new pharmaceutical
company cannot set themselves in the market, for that we have to find the way through which
the company can make a strategy and set them self in less time
Which kind of work they have to do to increase their strength and how they reduce their
weakness.
New pharmaceutical company having several problems like-
1 Doctors generally not prefer a new pharmaceutical company products .they think that it
may have quality problem, it may have service problem it may have price problem.
2 Retailers never wish to store new pharmaceutical company problem because customers and
doctor having less trust on the new company
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3 New Company having no previous experience so no one wants to take risk for the
medicinal therapy
4 Everyone have wrong perceptions about new companies have problem with their reliability
service quality etc
5 Because of giant competition and numbers of companies are available so customers have
more choices.
From This we can say that we have to know about new pharmaceutical company Strength
that separate the company from other, we have to work on our weakness, we have to find the
way or opportunity that new company can lead, also looking for the threat in pharmaceutical
industry
So in short we have to do The SWOT Analysis of New pharmaceutical Company
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5
RESEARH TOPIC
SWOT ANALYSIS
OF
NEW PHARMACEUTICAL COMPANY
SWOT ANALYSIS
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Albert Humphrey was an American business and management consultant.
During his work at the Stanford Research Institute (1960 – 1970), he produced a team method
for planning which was named SOFT analysis, this has developed into what we now know as
a SWOT analysis. SWOT is worth noting that you should set the final objective after
completing the SWOT analysis. The reason for this is to ensure that the objectives are
achievable and not unrealistic given the current internal and external environments.
Each organization or business has to deal with both internal and external factors that affect
them.
Users of the SWOT analysis can therefore use the first two sections (Strengths and
Weaknesses) to help them identify all of the internal factors. The last two sections
(Opportunities and Threats) will be used to identify all of the external factors.
When determining each of the sections it is really important that the right questions are asked.
A SWOT analysis that does not produce or help towards producing realistic and achievable
goals is useless. Have a look at the ―sample‖ questions that you could ask for each section.
These are just a short selection and will differ from objective to objective and from
organization to organization. The important point to take away is that the right question will
help to produce a really valuable SWOT analysis.
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Strengths(Internal factor / Positive influence)
 What are we best at?
 What intellectual property do we own that can help us with this objective?
 What specific skills does the current workforce have that can contribute to this
objective?
 What financial resources do we have for reaching this objective?
 What connections and alliances do we have?
 What is our bargaining power with both suppliers and intermediaries?
Opportunities (External factor / Positive influence)
 What changes in the external environment can we exploit?
 What weaknesses in our competitors can we use to our advantage?
 What new technology might become available to us?
 What new markets might be opening to us?
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Weaknesses (Internal factor / Negative influence)
 What are we worst at doing?
 Is our intellectual property outdated?
 What training does our workforce lack?
 What is our financial position?
 What connections and alliances should we have, but don‘t?
Threats (External factors / Negative influence)
 What might our competitors be able to do to hurt us?
 What new legislation might damage our interests?
 What social changes might threaten us?
 How will the economic cycle affect us?
As mentioned before, the above list is not comprehensive. You can also turn a threat into an
opportunity or something that is a weakness today might be turned into a strength with some
effort.
The SWOT analysis is taught to students in the Certificate in Professional Marketing and is
used in the Marketing module together with a PEST or PESTEL analysis to produce a
comprehensive audit of the internal and external environment for an organization which they
will take into the exam.
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6
Research Objective
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The formulation of objectives:
-Objectives are the goals you set out to attain in your study.
-They inform a reader what you want to attain through the study.
-It is extremely important to word them clearly and specifically.
Objectives should be listed under two headings:
a) main objectives ( aims);
b) sub-objectives.
Main Objective
 To find the Strength, weakness, Opportunities and threat of the company and all new
pharmaceutical companies.
 To find out the perception and expectation of doctors and retailers towards the new
pharmaceutical company.
Sub Objectives
 To find out the big player of the market (Tough Competitor).
 To find the way for new pharmaceutical company from tough competition.
 To create strategy for company with the help of research detail.
 To analyze Vadodara market for company.
 To create good communication bridge between new company to doctors and retailers, that
fulfill all require expectation of both.
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7
RESEARCH METHODOLOGY
FOR
RESEARCH TOPIC
“SWOT ANALYSIS OF NEW PHARMACEUTICAL COMPANY”
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7.1 Definition And Types Research
Research is undertaken within most professions.
It is a habit of questioning what you do, and a systematic examination of the observed
information to find answers with a view to instituting appropriate changes for a more
effective professional service.
DEFINITION OF RESEARCH
The word research is composed of two syllables, re and search. Re is a prefix meaning again,
anew or over again search is a verb meaning to examine closely and carefully, to test and try,
or to probe. Together they form a noun describing a careful, systematic, patient study and
investigation in some field of knowledge, undertaken to establish facts or principles.
Research is a structured enquiry that utilizes acceptable scientific methodology to solve
problems and create new knowledge that is generally applicable. Scientific methods consist
of systematic observation, classification and interpretation of data.
―Our research is on pharmaceutical industries that how new company can expand business in
tough competition which are the harmful and helpful things‖
TYPES OF RESEARCH
Research can be classified from three perspectives:
1. Application of research study
2. Objectives in undertaking the research
3. Inquiry mode employed
Application:
From the point of view of application, there are two broad categories of research:
- Pure research and
- Applied research.
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―SWOT analysis is one type of applied research where we have to find out the Strength,
Weakness, opportunities and Threat via knowing the doctors and retailer perceptions and
reactions towards new pharmaceutical company‖.
Objectives:
From the viewpoint of objectives, a research can be classified as
- Descriptive - Co relational
- Explanatory - Exploratory
―From the SWOT analysis we can know what are the real problem that face new
pharmaceutical company and get the bulk information about the market condition for new
pharmaceutical company so my research is descriptive type of research ―.
Inquiry Mode:
From the process adopted to find answer to research questions – the two approaches are:
- Structured approach
- Unstructured approach
Main objective is to describe the variation in a phenomenon, situation or attitude.
―Here in my research I have to know perceptions and reactions it means I have to know the
attitude of doctors and retailers so my research is of unstructured type of research‖.
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7.2 PREPARING THE RESEARCH DESIGN
Research design is the conceptual structure within which research would be conducted.
The function of research design is to provide for the collection of relevant information with
minimal expenditure of effort, time and money.
The preparation of research design, appropriate for a particular research problem, involves
the consideration of the following:
1. Objectives of the research study.
2. Method of Data Collection to be adopted
3. Source of information—Sample Design
4. Tool for Data collection
5. Data Analysis-- qualitative and quantitative
Objectives of the Research Study
With respect to the objective our research study is on ―Doctors & Retailers and Wholesalers‖
Major and Sub objective are there in topic 6 Research objective.
Methods of Data Collection:
There are two types of data
Primary Data: collected for the first time
Secondary Data: those which have already been collected and analyzed by someone else.
―Here for the research I used primary and secondary both data collection‖
Methods for Primary Data Collection
OBSERVATION METHOD:
Commonly used in behavioral sciences
It is the gathering of primary data by investigator‘s own direct observation of relevant People,
actions and situations without asking from the respondent.
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EXPERIMENTAL METHOD
Also called Empirical Research or Cause and Effect Method, it is a data-based research,
coming up with conclusions which are capable of being verified with observation or
experiment.
Experimental research is appropriate when proof is sought that certain variables affect other
variables in some way.
I use Survey method for my research
SURVEY METHOD
Approach most suited for gathering descriptive information.
Structured Surveys: use formal lists of questions asked of all respondents in the same way.
Unstructured Surveys: let the interviewer probe respondents and guide the interview
according to their answers.
For my research I prepare one questionnaire as per my research objective so my is
―structured survey‖.
Survey research may be Direct or Indirect.
Direct Approach:
Would you like to use new pharmaceutical company product?
Indirect Approach:
Do you have experience with new pharmaceutical company? How was that?
From the response, the researcher may be able to discover why the consumer avoids
―I used both type of research question in my questionnaire in structured survey‖
 Secondary data are collected from books, from official websites, literatures etc.
CONTACT METHODS:
Information may be collected by
Mail
Telephone
Personal interview
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―I used Personal Interview for my questionnaire‖
Personal Interviewing:
It is very flexible and can be used to collect large amounts of information. Trained
interviewers are can hold the respondent‘s attention and are available to clarify difficult
questions. They can guide interviews, explore issues, and probe as the situation requires.
Personal interview can be used in any type of questionnaire and can be conducted fairly
quickly.Interviewers can also show actual products, advertisements, packages and observe
and record their reactions and behavior.
This takes two forms-
Individual- Intercept interviewing
Group - Focus Group Interviewing
―I personally meet to all the doctors and retailers & wholesalers and take the answer from
them‖.
―Here For my research I prepared two questionnaires one is for doctors and another one is for
retailers & wholesalers. Both questionnaires are seemlier in nature just a difference is in some
questions and with some behaviors‖.
7.3 DETERMINING SAMPLE DESIGN
Researchers usually draw conclusions about large groups by taking a sample.A Sample is a
segment of the population selected to represent the population as a whole. Ideally, the sample
should be representative and allow the researcher to make accurate estimates of the thoughts
and behavior of the larger population.
Designing the sample
1 The Sample- Doctors and Retailers & wholesalers
2 Sample Size- Total 100 Sample
Doctors – 60
Retailers & Wholesalers – 40
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3 Sampling
―I used probability and non probability sampling both‖.
Non Random Sampling for Doctors
Quota sample - MBBS, Specialist (Eye, Ear, Nose) Neurologist, Orthopedic, Pediatric,
Dentists
Random Sampling
Simple random sampling - All different type of doctors are sample out randomly
―All retailers & Wholesalers are sample out according to the particular doctor connection and
within doctors rang‖.
Tool for Data Collection (Research instrument)
The construction of a research instrument or tool for data collection is the most important
aspect of a research project because anything you say by way of findings or conclusions is
based upon the type of information you collect, and the data you collect is entirely dependent
upon the questions that you ask of your respondents. The famous saying about computers-
―garbage in garbage out‖- is also applicable for data collection. The research tool provides
the input into a study and therefore the quality and validity of the output (the findings), are
solely dependent on it.
The Questionnaire:
Structured surveys/ interviews employ the use of a questionnaire.
A questionnaire consists of a set of questions presented to a respondent for answers. The
respondents read the questions, interpret what is expected and then write down the answers
themselves.
There are three basic types of questionnaire:
• Closed –ended
• Open-ended
• Combination of both
In my Both Questionnaires I used all three type of question
In Doctors questionnaire – 8 Questions out of them 1 open ended, 6 close ended and 1
combination of both.
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In Retailers & Wholesalers – 7 questions out of them 1 open ended, 5 close ended and 1
combination of both.
7.4 Research Limitation
 From the entire population research is only on 60 doctors and 40 Retailers with
wholesalers which is less sample size.
 Here in our research target audience is only of Vadodara‘s doctors retailers and
wholesalers, there may variation in result with other cities.
 Research is basically don with some perception of the both the hand means of
researcher and target audience both.
 Respondent‘s reluctance to answer questions asked by unknown interviewers about
things they consider private. Busy people may not want to take the time.
 May try to help by giving pleasant answers
 May answer in order to look smart or well informed.
7.5 Research Signification
 Marketing and operation Strategy creation become easy with the help of research
data.
 We can get the perception and expectation of the doctors and retailers from New
pharmaceutical company.
 We can get the helpful and harmful attribute for new pharmaceutical company in
India.
 To know Pharmaceutical market of Vadodara.
 We can get the previous experience of new pharmaceutical company from doctor and
Retailers.
 We can catch the biggest threat creator player of market.
Wellcare Lifescience
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Oakbrook Business School Page 51
8.1
ANALYSIS
AMD
INTERPRETATION
OF
DOCTOR SURVEY DATA
Wellcare Lifescience
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Oakbrook Business School Page 52
1 Do you prefer to use (Prescribe or dispense) a new pharmaceutical company
products?
Yes ⃝ No ⃝
Result Percentage
Yes 33 55
NO 27 45
60 100
Interpretation
From the graph we can say easily that the 55 percent doctors are ready to prescribe or
dispense new pharmaceutical products in Vadodara. There is a chance to success in Vadodara
if they sale their product in Vadodara. So there is good opportunity to do business for new
pharmaceutical company.
55
45
Percentage %
Yes
NO
Wellcare Lifescience
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Oakbrook Business School Page 53
2 If you have any experience with new pharmaceutical products, then how was it?
Excellent ⃝ Very Good ⃝ Good ⃝ Average ⃝ Bad ⃝ Very Bad ⃝ Poor ⃝
Result Percentage
Excellent 0 0
Very Good 3 5
Good 20 33.333333
Average 27 45
Bad 7 11.666667
Very Bad 3 5
Poor 0 0
60 100
Interpretation
In Vadodara doctors having average experience with new pharmaceutical company product.
We can say that doctors will prefer to use a new pharmaceutical company product. So new
pharmaceutical company having a opportunity to set themselves.
0
10
20
30
40
50
Percentage %
Percentage
Wellcare Lifescience
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Oakbrook Business School Page 54
3 What do you like most?
Prescribing ⃝ Dispensing ⃝
Result Percentage
Prescribing 54 90
Dispensing 6 10
Interpretation
From the above graph maximum doctor prefer to prescribe. So new pharmaceutical company
have target customers are Retailers and Wholesalers.
So for the new pharmaceutical company has to make strategy towards retailers more, so with
the recommendation of doctor and support of retailer new pharmaceutical company is
working.
Condition is like doctors recommendation and retailers attraction base business will succeed
for new pharmaceutical company.
90
10
Percentage %
Prescribing
Dispensing
Wellcare Lifescience
Project report
Oakbrook Business School Page 55
4 What would make you prescribe a new Company over the well settle company for
pharmaceutical products?
Economic to doctor Economic to patient
Higher Quality Better service
Other: - ______________________
Result Percentage
Economic to Doctor 7 11.666667
Economic to Patient 51 85
Higher Quality 36 60
Better Service 21 35
Other 2 3.3333333
Interpretation
From the above graph result, it shows that to prescribe a new company product over the well
settle company the product must be economic to the patient and with good quality is require.
So there is an opportunity for new company, if new pharmaceutical company product is
economic to patient and good in quality then they can set their business more quickly.
So company with good quality will definitely make there image in market.
11.66666667
85
60
35
3.333333333
Percentage %
Economic to Doctor
Economic to Patient
Higher Quality
Better Service
Other
Wellcare Lifescience
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Oakbrook Business School Page 56
5 What is your perception towards new pharmaceutical company?
Quality Issues Service Issues Reliability Issues
Availability Issues Price Issues
Percentage Result
Quality Issue 70 42
Service Issue 50 30
Reliability Issue 70 42
Availability Issue 51.66667 31
Price Issue 23.33333 14
All 13.33333 8
Interpretation
From the above graph can say that , new pharmaceutical company having several issues from
that all availability and reliability issue are the most, some of doctor also suffer with all the
issues also.
So new pharmaceutical company having biggest weaknesses are availability and reliability
issues are generated.
If new company work on it , so they can take it as opportunities also.
0 20 40 60 80
Quality Issue
Service Issue
Reliability Issue
Availability Issue
Price Issue
All
Percentage %
Percentage
Wellcare Lifescience
Project report
Oakbrook Business School Page 57
6 Which is the first thing you see in a product with a new Pharmaceutical company?
Quality & Commitment ⃝ Price ⃝
Service & Regularity ⃝ Packaging ⃝
% Percentage Result
Quality & Commitment 51.67 31
Service & Regularity 11.67 7
Price 31.67 19
Packaging 5 3
100 60
Interpretation
From the above analysis, it shows 51.67 percentage of doctors looking for quality and
commitment when new pharmaceutical company product came in market.
So it indicates that with good quality and with comfortable price doctor will defiantly go with
new pharmaceutical company product.
51.67
11.67
31.67
5
Percentage
Quality & Commitment
Service & Regularity
Price
Packaging
Wellcare Lifescience
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Oakbrook Business School Page 58
7 As per your point of view rank the new company features. (1-6)
Availability & Service Product Mix Patient satisfaction
Good Quality Packaging Type Comfortable price
Rank Result
1 2 3 4 5 6
Availability &
Service
16 6 13 13 4 8 60
Good Quality 21 20 10 4 2 3 60
Product Mix 4 4 5 14 23 10 60
Packaging Type 0 2 2 6 25 25 60
Patient Satisfaction 16 18 16 8 2 0 60
Comfortable Price 3 10 14 15 4 14 60
60 60 60 60 60 60
Rank Result in Percentage
1 2 3 4 5 6
Availability &
Service
26.67 10 21.67 21.67 6.67 13.33 100
Good Quality 35 33.33 16.67 6.67 3.33 5 100
Product Mix 6.67 6.67 8.33 23.33 38.33 16.67 100
Packaging Type 0 3.33 3.33 10 41.67 41.67 100
Patient Satisfaction 26.67 30 26.67 13.33 3.33 0 100
Comfortable Price 5 16.67 23.33 25 6.67 23.33 100
100 100 100 100 100 100
0
5
10
15
20
25
30
1 2 3 4 5 6
Availability & Service
Good Quality
Product Mix
Packaging Type
Patient Satisfaction
Comfortable Price
Wellcare Lifescience
Project report
Oakbrook Business School Page 59
Interpretation
From the above analysis the priority of doctors shows the first priority is good quality for
pharmaceutical product and last priority is to Packaging type.
It shows 1 to 6 rank order priority of doctors
Average rank order of priority characteristic of pharmaceutical company to doctor is
Rank
1 Good Quality
2 Patient Satisfaction
3 Availability & Service
4 Comfortable Price
5 Product Mix
6 Packaging Type
From this we can set priority of work which is hundred percentage work is require but by at
the some extant which come first or which things are more accurate.
0
10
20
30
40
50
1 2 3 4 5 6
Availability & Service
Good Quality
Product Mix
Packaging Type
Patient Satisfaction
Comfortable Price
Wellcare Lifescience
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Oakbrook Business School Page 60
8 Give your special suggestion for new pharmaceutical company?
Some of the acceptable suggestion are given bellow that help to the new pharmaceutical
company to set themselves in most successive way…
1 Quality work is under the GMP and ISO but regularity and service is depends on company
itself. Focus on Service.
2 R&D work push company growth more quickly. Existing are there but do something
innovative.
3 Do complete market analysis and implement your strategy according to the most ethical
way.
4 Do qualitative work and get the all certification of that and maintain it for a long time.
5 Do the ethical work and get profit out of it.
6 Do not produce same molecule products, make some combinatory molecule that help to
patient and doctor both.
7 Packaging is most important thing, show creativity in packaging.
Wellcare Lifescience
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Oakbrook Business School Page 61
8.2
ANALYSIS
AMD
INTERPRETATION
OF
Retailer & Wholesaler Survey Data
Wellcare Lifescience
Project report
Oakbrook Business School Page 62
1 Would you like to try working with a new pharmaceutical Company?
Yes ⃝ No ⃝
Answer % Percentage
Yes 29 72.5
No 11 27.5
40 100
Interpretation
From the graph we can easily say that retailers and wholesalers like to work with new
pharmaceutical company.
So as per the survey it indicate that new pharmaceutical company having good opportunity to
set themselves in this positive looking market, where consumers are ready to join.
72.5
27.5
Percentage
Yes
No
Wellcare Lifescience
Project report
Oakbrook Business School Page 63
2 Which is the first thing you see in a product with a new pharmaceutical company?
API Content ⃝ Price ⃝ Availability ⃝
Therapeutic use ⃝ Packaging ⃝
Result % Percentage
API Content 12 30
Price 10 25
Availability 8 20
Therapeutic Use 7 17.5
Packaging 3 7.5
40 100
Interpretation
From the graph its shows that everything is more or less equal so everything is the first look
of product by the retailers but the most viewer look for the API content that product have is
the first thing when the new pharmaceutical company product in retailers hand.
So from the result we can say new company has to work on all then and only then new
company make there image well in market.
30
25
20
17.5
7.5
Percentage
API Content
Price
Availability
Therapeutical Use
Packaging
Wellcare Lifescience
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Oakbrook Business School Page 64
3 What would make you prefer a new Company over the well settle company for
pharmaceutical products?
Competitive rates Packaging type
Higher Quality Availability & Service
% Percentage Result
Competitive Rates 52.25 19
Packaging Type 22 8
Higher Quality 35.75 13
Availability & Service 57.75 21
Interpretation
From graph result it clearly shows that to compete the well settle pharmaceutical company
new pharmaceutical company have to focus on competitive rate and availability & Service.
This shows the clear way to satisfy the retailer and wholesalers requirement.
Percentage
Competitive Rates
Packaging Type
Higher Quality
Availability & Service
Wellcare Lifescience
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Oakbrook Business School Page 65
4 What dissatisfy you with current Pharmaceutical company products?
Price Availability & Service
Packaging Type Quality
% Percentage Result
Price 52.5 21
Packaging type 10 4
Availability & Service 40 16
Quality 20 8
Interpretation
Its shows the current market is cover with the high price . Most of the retailers are dissatisfy
with the price from current pharmaceutical company products.
So we can say that with comfortable price of products retailer will defiantly attract with new
pharmaceutical company.
52.5
10
40
20
Percentag
Price
Packaging type
Availability & Service
Quality
Wellcare Lifescience
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Oakbrook Business School Page 66
5 Which companies Pharmaceutical Products you store in bigger quantity?
Exemed pharma Elysium Unicure
Manish Pharma Briyosis Sarabhai Pharmaceutical
Other: - _______________
Company Name Result Percentage
Exmed Pharma 3 7.5
Elysium 4 10
unicure 17 42.5
Briyosis 2 5
Sarabhai 17 42.5
Manish Pharma 8 20
Unison 28 70
Other 6 15
Interpretation
From the result there are so many competitors but the biggest market is of Unison
pharmaceutical company.
This graph shows that the newly enter pharmaceutical companies has the toughest competitor
name Unison pharma
So it indicate that new company has to make strategy with put center to the unison company
as target.
7.5 10
42.5
542.5
20
70
15
Percentage
Exmed Pharma
Elysium
unicure
Briyosis
Sarabhai
Manish Pharma
Unicure
Other
Wellcare Lifescience
Project report
Oakbrook Business School Page 67
So from the graph the biggest threat maker is unison pharmaceutical for new company in
Vadodara.
6 As per the point of view rank the new company features. (1-6)
Availability & Service Product Mix Patient satisfaction
Good Quality Packaging Type Comfortable price
Rank Result
1 2 3 4 5 6
Availability & Service 10 4 9 8 4 5 40
Good Quality 10 17 5 3 2 3 40
Product Mix 4 6 2 10 8 10 40
Packaging Type 0 3 4 1 17 15 40
Patient Satisfaction 11 8 11 5 4 1 40
Comfortable Price 5 2 9 13 5 6 40
40 40 40 40 40 40
Rank Result in Percentage
1 2 3 4 5 6
Availability & Service 25 10 22.5 20 10 12.5 100
Good Quality 25 42.5 12.5 7.5 5 5 100
Product Mix 10 15 5 25 20 16.66667 100
Packaging Type 0 7.5 10 2.5 42.5 25 100
Patient Satisfaction 27.5 20 27.5 12.5 10 1.666667 100
Comfortable Price 12.5 5 22.5 32.5 12.5 10 100
100 100 100 100 100 100
0
5
10
15
20
1 2 3 4 5 6
Availability & Service
Good Quality
Product Mix
Packaging Type
Patient Satisfaction
Comfortable Price
Wellcare Lifescience
Project report
Oakbrook Business School Page 68
Interpretation
This is the priority rank order for the medicinal system characteristics by the retailers and
wholesalers .
For retailers and wholesalers first thing fort take care is to satisfy the patients with the good
quality with the heist ratting.
All characteristics are most important but with the rank order product mix is not most
important thing for retailer that Packaging type is rated at the last 6th
position
Average Rank order priority of Retailers and wholesaler is given bellow
Rank
1 Good Quality
2 Patient Satisfaction
3 Availability & Service
3 Comfortable Price
5 Product Mix
6 Packaging Type
0
10
20
30
40
50
1 2 3 4 5 6
Availability & Service
Good Quality
Product Mix
Packaging Type
Patient Satisfaction
Comfortable Price
Wellcare Lifescience
Project report
Oakbrook Business School Page 69
7 Give your special suggestion for new pharmaceutical company?
Some of the acceptable suggestions are given bellow that help to the new pharmaceutical
company to set themselves in most successive way…
1 Pricing is the biggest issue for the all company so do pricing with respect to Patient as well
as Retailer also.
2 Patient satisfaction is the most important thing so never compromise with the quality.
3 Make some product with specific characteristics that only your product has which lead you
automatically in to the market.
4 Always be specific with your distribution channel and give the complete service.
5 Do not offer the schemes but give the comfortable price that all can afford.
6 Decrease our lead time with quick respond.
7 Attracting to the patient advertisement is require so do some advertisement.
8 Make packaging attractive and tough.
9 Printing of the strip price , content, MFG and EXP date in bigger font size that make easy
to read.
Wellcare Lifescience
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Oakbrook Business School Page 70
9
Finding
Wellcare Lifescience
Project report
Oakbrook Business School Page 71
Apart from the main topic ―SWOT analysis of new pharmaceutical company‖ the main thing
is to increase the sales of the company from getting the outer environment of pharmaceutical
market for new company. Wellcare Lifescience is a new company. They wants to expand
their business so they need such kind of information that we found.
From The survey I found several things that are given bellow
FOR DOCTORS
 55 % of doctors are ready to make a relationship with ne pharmaceutical company.
 Doctors having 33% good and 45% average experience with new pharmaceutical
company.
 90% doctor likes prescribing.
 With higher quality of product and product with greater patient satisfaction doctors
prefer a new company over the well settle pharmaceutical company.
 70% of doctors having perception that new pharmaceutical company has always
issues with there quality and reliability.
 Quality and commitment is the first thing that doctors wants to see with a new
pharmaceutical company product.
 Average rank order of priority characteristic of pharmaceutical company to doctor is
Rank
1 Good Quality
2 Patient Satisfaction
3 Comfortable Price
4 Product Mix
5 Packaging Type
6 Availability & Service
Wellcare Lifescience
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Oakbrook Business School Page 72
FOR RETAILERS & WHOLESALERS
 72.5% retailers and wholesalers are ready to make relation with new pharmaceutical
company.
 API Content is the first thing for the retailers and wholesalers to see when new
pharmaceutical company product is in their hand.
 With a competitive rate and service retailer and wholesalers would make them to
prefer a new company over the well settle pharmaceutical company
 52.5% Retailers and wholesalers are dissatisfy with there prices that companies are
offering to him.
 With 40% of all retailers and wholesaler are also dissatisfy with the availability &
service.
 With 70% of retailers having unison pharma company product stock is in bigger
quantity.
 Average Rank order priority of Retailers and wholesaler is given bellow
Rank
1 Patient Satisfaction
2 Good Quality
3 Availability & Service
3 Comfortable Price
5 Packaging Type
6 Product Mix
 Perceptions that we found from the survey are-
Quality and Reliability issues are maximum with new pharmaceutical company.
 Expectations that we found from survey are-
Quality product with Competitive rate and better service are the expectation of there.
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Oakbrook Business School Page 73
10
CONCLUSION
Wellcare Lifescience
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Oakbrook Business School Page 74
Every companies have there own strategies to make them self different from other. Final goal
of every company is to earn maximum profit out of there investment, here with this survey I
got several things are generated from which help company to make strategies and get
something out of it.
With better quality competitive rate and advance service new pharmaceutical company can
set themselves in market with great response.
In Vadodara there is good enough market for new pharmaceutical company to their business.
From the research of primary and secondary data that we collected
“SWOT analysis of new pharmaceutical company”
Wellcare Lifescience
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Oakbrook Business School Page 75
Wellcare Lifescience Company SWOT analysis from the research
Wellcare Lifescience
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Oakbrook Business School Page 76
12
SUGGESTIONS
AND
RECOMMENDATIONS
Wellcare Lifescience
Project report
Oakbrook Business School Page 77
From the survey I knew some important things that improve company sales and value which
are the biggest asset of the company. All organizations believe in more profit and it must be
ethical and social way of business, so proper suggestions opinions and recommendations are
require.
For increasing the sales and expanding the business every one‘s support is require for that
several things which help to improve the business are given bellow –
 Pricing is the biggest issue in pharmaceutical industries so according to the patient
overall conditions or with respect to the overall country economic status of people
M.R,P Should be there on the products. Which help to improve the value of the
company and it make affordable price to the patient so increase sales also.
 With the innovative drug formulations and combinations which help the doctors and
retailers to dispense and that make patient happy.
 Pharmaceutical sector is on the human‘s life so as per demand and shortage it must be
available in the market so new company should work on there availability and on
reliability that makes positive marks towards the new company.
 Storage and handling is also one of the biggest issue for the users so the packaging
must be tough and attractive to the patient as well as for doctors and retailers also.
 As per the retailers recommendation they want the bigger font size print on the strip
and on the label. That makes comfortable visualize print.
 For increasing sale company should tray with arraigning free camp for patient with
doctors. Means doing promotions for the company products.
 Now a days user are attracting more towards the advertisement promotions and
internet or online help center so company can go with this kind of tools that increase
user‘s awareness towards the company.
Wellcare Lifescience
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Oakbrook Business School Page 78
12
Bibliography
And
Reference
Wellcare Lifescience
Project report
Oakbrook Business School Page 79
Books
Naval Bajpai, (2012). 1st Edition. Research Methodology, Dorling Kindersley (India) Pvt.
Ltd.
Philip Kotler (2014). 15th Edition. Marketing Management, Dorling Kindersley (India) Pvt.
Ltd.
Ken Black(2009). 5th Edition. Business Statistics, Wiley India Pvt. Ltd.(India) . (Calculation
of hypothesis)
Reference
Kyoung Kim Yee, Lee Keun, Park Walter G and Choo Kineung found thatappropriate
intellectual property protection and economic growth in countries at different levels of
development,
According to Schuiling and Moss (2004), 2013 Society of Interdisciplinary Business
Research
E. Osinga from Tilburg Universityin in 2010 measure Influences of pharmaceutical
marketing on the prescribing behavior of physicians in the United States and in the
Netherlands
Aikin, K. J., Swasy, J. L., & Braman, A. C. (2004). Patient and physician attitudes and
behaviors associated with DTC promotion of prescription drugs.
Aditya Bhattacharjea and Fiyanshu Sindhwani. (2014) research on“Competition Issues in the Indian
Pharmaceuticals Sector “
Sanjiwani Jayant Kumar KJ Somaiya Studies and Research on Product and Brand Positioning
Typologies with Respect to Pharmaceutical Companies in 2013
D. K. Nauriyal and Dukhabandhu Sahoo (2015 ) research on The New IPR Regime and Indian Drug
and Pharmaceutical Industry: An Empirical Analysis.
JSB Intelligence UK in 2005 studied on Strategic Analysis of the Pharma Market, Future Revenue
Models and Key Players ―
Li Ying in 2013 don Analysis of Marketing Strategy Plan of Pharmaceutical Company
Kapil Kumar DR. M. K. Kulshreshitha in 2013 don reearchon SWOT analysis of Indian
Pharmaceutical Industries.
Wellcare Lifescience
Project report
Oakbrook Business School Page 80
JOURNAL TITLES:
Pharmacy management
Pharmacy Times
Pharmacy Today
Websites
http://www.wellcareworld.com/wp/
http://www.drugs.com
http://www.ibef.org/industry/pharmaceutical-india/showcase
http://www.forbes.com/sites/liyanchen/2015/06/04/2015-global-2000-the-worlds-largest-
drug-and-biotech-companies/
http://www.newagepublishers.com/samplechapter/000896.pdf
http://www.ihmgwalior.net/pdf/research_methodology.pdf
http://www.medicinenet,com
http://apps.who.int/iris/bitstream/10665/93142/1/EML_18_eng.pdf?ua=1
Wellcare Lifescience
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13
Annexure
Questionnaire for Doctors and Retailer & Wholesalers
Wellcare Lifescience
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Oakbrook Business School Page 82
SWOT Analysis of New Pharmaceutical Company
Questionnaire for Doctor
1 Do you prefer to use (Prescribe or dispense) a new pharmaceutical company products?
Yes ⃝ No ⃝
2 If you have any experience with new pharmaceutical products, then how was it?
Excellent ⃝ Very Good ⃝ Good ⃝ Average ⃝ Bad ⃝ Very Bad ⃝ Poor ⃝
3 What do you like most?
Prescribing ⃝ Dispensing ⃝
4 What would make you prescribe a new Company over the well settle company for pharmaceutical
products?
Economic to doctor Economic to patient
Higher Quality Better service
Other: - ______________________
5 What is your perception towards new pharmaceutical company?
Quality Issues Service Issues Reliability Issues Availability Issues Price Issues
6 Which is the first thing you see in a product with a new Pharmaceutical company?
Quality & Commitment ⃝ Price ⃝
Service & Regularity ⃝ Packaging ⃝
7 As per the point of view rank the new company features. (1-6)
Availability & Service Product Mix Patient satisfaction
Good Quality Packaging Type Comfortable price
8 Give your special suggestion for new pharmaceutical company?
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
Wellcare Lifescience
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Oakbrook Business School Page 83
PERSONAL DETAILS
NAME : _________________________________________________________________
Occupation : ____________________ since _______
Would you like to make relation with “WELLCARE LIFESCIENCE”? Yes ⃝ No ⃝
Contact No. :____________________ E Mail:__________________________________
Thank you for your Precious time!!!
Wellcare Lifescience
Project report
Oakbrook Business School Page 84
SWOT Analysis of New Pharmaceutical Company
Questionnaire for Wholesaler & retailer
1 Would you like to try working with a new pharmaceutical Company?
Yes ⃝ No ⃝
2 Which is the first thing you see in a product with a new pharmaceutical company?
API Content ⃝ Price ⃝ Availability ⃝
Therapeutic use ⃝ Packaging ⃝
3 What would make you prefer a new Company over the well settle company for pharmaceutical products?
Competitive rates Packaging type
Higher Quality Availability & Service
4 What dissatisfy you with current Pharmaceutical company products?
Price Availability & Service
Packaging Type Quality
5 Which companies Pharmaceutical Products you store in bigger quantity?
Exemed pharma Elysium Unicure
Manish Pharma Briyosis sarabhai Pharmaceutical
Other: - _______________
6 As per the point of view rank the new company features. (1-6)
Availability & Service Product Mix Patient satisfaction
Good Quality Packaging Type Comfortable price
7 Give your special suggestion for new pharmaceutical company?
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
Wellcare Lifescience
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Oakbrook Business School Page 85
PERSONAL DETAILS
NAME :_________________________________________________________________
Occupation :____________________ Since _______
Would you like to make relation with “WELLCARE LIFESCIENCE”? Yes ⃝ No ⃝
Contact No. :____________________ E Mail:__________________________________
Thank you for your Precious time!!!
Wellcare Lifescience
Project report
Oakbrook Business School Page 86
Wellcare Lifescience Product Detail
Carecef – 200
Category – Antibiotic
API Contebt
Cafixime dispersible
Therapeutic use
Used to treat a wide variety of bacterial infections. This medication is known as a
cephalosporin antibiotic. It works by stopping the growth of bacteria. This antibiotic treats
only bacterial infections
Cefixime treats infections of the:
Ear: Otitis caused by Haemophilus influenza, Moraxella catarrhalis and Streptococcus
pyogenes.
Sinuses: Sinusitis.
Throat: Tonsillitis, pharyngitis caused by Streptococcus progenies.
Chest and lungs: Bronchitis, pneumonia caused by Streptococcus pneumonia and
Haemophilus influenza
It is also used to treat typhoid fever
Wellcare Lifescience
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HOW TO USE
Take this medication by mouth with or without food as directed by your doctor, usually
once a day. In children, this medication may also be taken twice a day (every 12 hours)
It is on the World Health Organization's List of Essential Medicines, a list of the most
important medication needed in a basic health system.
Acepar – SP
Category - NSAID
API Content
Aceclofenac, paracetomol and serratiopeptidase
Therapeutical Use
Aceclofenac
It is used for the relief of pain and inflammation in rheumatoid arthritis, osteoarthritis and
ankylosing spondylitis
Paracetamol
This drug is used to treat mild to moderate pain (from headaches, menstrual periods,
toothaches, backaches, osteoarthritis, or cold/flu aches and pains) and to reduce fever
Serratiopeptidase
Wellcare Lifescience
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It is proteolytic enzyme that has potent anti-inflammatory property
HOW TO USE
Oral tablet as directed by doctor.
Ondi- MD4
Category- Serotonin 5-HT3receptor antagonist
API Content
Ondansetron
Therapeutic Use
Used to treat and prevent chemotherapy-induced nausea and vomiting and radiotherapy-
induced nausea and vomiting.
Used off-label to treat morning sickness and hyperemesis gravidarum of pregnancy. It is
typically used after trials of other drugs have failed.
Antiemetic agents used during the vomiting phase of cyclic vomiting syndrome.
Used to reduce vomiting associated with gastroenteritis and dehydration.
Wellcare Lifescience
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How to Use
To prevent nausea from chemotherapy, take this medication by mouth usually within 30
minutes before treatment begins.
ACIARE-DSR
CATEGORY- Anti Ulcer
API Content
Rabeprazole Sodium
Domperidone
Therapeutic Use
Short-term treatment in healing and symptomatic relief of duodenal ulcers and erosive or
ulcerative GERD;
Maintaining healing and reducing relapse rates of heartburn symptoms in patients with
erosive or ulcerative GERD;
treatment of daytime and nighttime heartburn and other symptoms associated with GERD;
Long-term treatment of pathological hypersecretory conditions, including Zollinger-Ellison
syndrome; in combination with amoxicillin and clarithromycin to eradicate Helicobacter
pylori in patients with H. pylori infection and duodenal ulcer disease.
How to use
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Oral Doses form take as directed by doctors.
ACENEC-P
Category - NSAID
API Content
Aceclofenac
Paracetamol
Therapeutic Use
It is used for the relief of pain and inflammation in rheumatoid arthritis, osteoarthritis and
ankylosing spondylitis.
( It should not be given to people with porphyria or breast-feeding mothers, and is not
recommended for children.)
How to use
This is oral doses form. Use as directed by the doctor.
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WellVita
Category – Multivitamin
Composition
Vitamin A, Vitamin C Carbohydrates, Fat, Diary Fibers, Zinc, Folic Acid, Sucrose, Iodine,
Sucrose, Protein, Colecalciferol, Thiamine Hydrochloride, Riboflavin Sodium Phosphate,
Niacin amide, Cynocobalamine, D Pentanol, Manganess, Molybdenum, Selenium, L Lysine
Use
Used in treating or preventing low levels of vitamins and minerals in the body. It may also be
used for other conditions as determined by your doctor.
Multivitamin drops are a vitamin and mineral supplement. It works by providing extra
vitamins and minerals to the body when you do not get enough from your diet.
How to Use
Syrup is for pediatric use only, as per the doctors suggestion accurate drops are
administered orally to the child.
Wellcare Lifescience
Project report
Oakbrook Business School Page 92
Besty
Category Nutrient
API Content
D Fructose
Choline Chloride
And Carbohydrates, Sucrose, Dietary Fibers, Protein
Therapeutic use
Here all are the normal nutrients but special content of the product is combination of d
fructose and choline chloride. Choline chloride is part of vita B .so for increasing the level of
vita B this drops are being in use.
How to use
It is a pediatric oral drops. As directed by doctors.
Wellcare Lifescience
Project report
Oakbrook Business School Page 93
Teniwell CV
Category – Antibiotic
API Content
Amoxiciline
Potassium Clavulanate
Therapeutic Use
Treatment of children with recurrent or persistent acute otitis media due to S. pneumoniae ,
Haemophilus influenzae , or Moraxella catarrhalis characterized by antibiotic exposure for
acute otitis media within the preceding 3 months and who are either 2 yr of age or younger
or attend day care.
How to use
Anti biotic oral suspension for only children. Dose as directed by doctor.
merged_document_6
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  • 1. SWOT ANALYSIS OF NEW PHARMACEUTICAL COMPANIES Sumer Internship Program Project Repot 2014-16 Prepared By -Dharmik D Bhatt Submitted To Gujarat Technical University Company - WellCare LifeScience 308 Abhushan Complex, Near Kalupur Bank, Opp SVC Bank Stadium Road, Navarangpura, Ahmedabad College – Oakbrook Business School Plot No. 225, Opp Maharaj Hotel lane, Jamiyatpura Road, S.G Highway, Gandhinagar
  • 2. A SUMMER INTERNSHIP PROJECT ON SWOT ANALYSIS OF NEW PHARMACEUTICAL COMPANY AT WELLCARE LIFESCIENCE Submitted To OAKBROOK BUSINESS SCHOOL (GTU) A Project Report Submitted in Partial Fulfillment of the requirement of the award for the degree of MBA Under Gujarat Technological University Under the guidance of Faculty Guide Company Guide Prof. Radha Gandhi Mr. Hardik Thakkar Submitted By Dharmik D Bhatt Enrollment No. 148320592002 MBA Semester III Year 2014-16 Year 2014-16 OAKBROOK BUSINESS SCHOOL MBA PROGRAMME Affiliated to Gujarat Technological University, Ahmedabad
  • 3. Student Declaration DECLARATION I undersigned DHARMIK D BHATT student of Oakbrook Business School, second Semester hereby declare that the report for “Summer Internship Project” entitled “SWOTT ANALSIS OF NEW PHARMACEUTICAL COMPANY” at WELLCARE LIFESCIENCE. from 2nd June, 2015 to 27th July, 2015 is my own work and has been carried out under the guidance of Prof. Radha Gandhi of Oakbrook Business School, Adalaj. This has not been submitted to any other university for any other purpose. Date: _______________ Sign Of Student: _____________ Dharmik D Bhatt Enroll. No. 148320592002 Place: _______________
  • 4. PREFACE Summer Internship Program is a part of Masters of Business Administration academic study, after completion of second semester of M.B.A. We are been require undergoing for training of 6- 8 week in any reputed company/industry in order to obtain practical knowledge and enhance our learning. It is a right time where we can gain experience and can learn new things. This type of training makes us aware about the extent to which theoretical knowledge can be implemented in real time environment. For this Summer Internship Program I joined WELLCARE LIFESCIENCE pharmaceutical company. After doing my training I lent a lot and I have prepared report which contain the company information and about my project. My project is on doctors and retailers & Wholesalers that how they react and percept towards the new pharmaceutical company which means SWOT analysis of new pharmaceutical company. New pharmaceutical companies have lots of resistance against their growth. So we must have to do something about that resistance. There are so many small and large scale companies are there in pharmaceutical industries. Pharmaceutical product work on directly to the human health so quality is most important things for the all companies Trust is the biggest thing in pharmaceutical industries, so for new companies to built a trust is typical thing. For that we must have to know the perceptions and reactions of doctor’s retailers and wholesalers towards the new pharmaceutical company.
  • 5. AKNOWLADGEMENT Every work is not a one day task & it may require help of some or other person. In entire duration of S.I.P there were many who helped me as and when required. A sincere thanks to Ms. Hardik Thakkar my project guide who helped me lot throughout this project and guide me in right direction and not only that her expertise in this topic also helped me to gain in-depth knowledge. I am also thankful to my project guide Prof. Radha Gandhi who always be there to provide the information as and when required. My sincere thanks to all the respondents including doctors, retailers and wholesalers of my survey because without their fair response and incorporation it will be very difficult to get correct idea about their perception and reactions towards the new pharmaceutical company. I would like to gratitude my earnest thanks to all the faculty members of OAKBROOK BUSINESS SCHOOL. Finally, my heartfelt thanks to all of them who helped me directly or indirectly, knowingly or unknowingly in this project. “With sincere Regards”, DHARMIK D BHATT Date ___________ Place ___________
  • 6. Executive Summary Learning and experience which we gain by doing things practically is always different than what we have learned through theories. We have found this opportunity with company like Wellcare Lifescience. Wellcare Lifescience is the company that do job work for pharmaceutical products which means they doesn’t have production unit they purchase the finished products and label them with their own name and sale them. Company having not much experience but they doing tremendous sale of their products for last one and half year. They also start exporting their product and expanded their business. I got the knowledge about the new form of business. Pharmaceutical market is tough market to business for the new company it become more tough because pharmaceutical products are sold on the trust of consumers. Initial level of the new company to create the trust or the good value is the most important thing. For that we must have knowledge about the perceptions and reactions of consumers as the first consumers for pharmaceutical products are doctors, retailers and wholesalers. So I decided to work on topic “SWOT analysis of new pharmaceutical company” to get the idea of market conditions for a new company. I have done several type of work simultaneously with my project like sales, pricing of product making product card and visuliser. My project is divided in to two parts, one is the perception and reactions of Doctors and second is perception and reactions Retailers & Wholesalers towards new pharmaceutical company, And for that I have prepared two questionnaire for both one is for doctor and another is for retailer & wholesalers for making my survey successful. In the end I found strength, weakness, opportunities and threat of new pharmaceutical company and also the same of Wellcare Lifescience. Also found the perception and expectation of doctors and retailers towards new pharmaceutical company.
  • 7. INDEX CHAPTER NO. SUB PART CHAPTERS Pg.No 1 Introduction of Pharmaceutical industries 1 1.1 History of Pharmaceutical Industries 2 1.2 Worldwide pharmaceutical industries 5 1.3 Top pharmaceutical Industries 9 2 Introduction of Wellcare Lifescience 10 2.1 History 11 2.2 Company Profile 12 2.3 Organization structure 13 2.4 Organization chart 13 2.5 Mission, Vision and Value of Wellcare Lifescience 13 2.6 Type of work that Wellcare Lifescience do. 14 2.7 Marketing of Wellcare Lifescience 17 2.7.1 Marketing 17 2.7.2 Market Segmentation 18 2.7.3 Pricing Decision 19 2.7.4 Advertising 20 2.7.5 Sales Promotion 20 2.7.6 Distribution Channel 21 2.7.7 International Marketing 22 2.8 Financing of Wellcare Lifescience 25 2.8.1 Financing 23 2.8.2 Financial planning 23 2.8.3 Accounting policies 23 2.8.4 Working Capital 24 2.9 Wellcare Lifescience products 25 3 Literature Review 27 4 Problem Statement 34 5 Research Topic SWOT Analysis of new Pharmaceutical Company 37 6 Research Objective 41 7 Research Methodology 43 7.1 Definition and type of research 44 7.2 Research Design 46
  • 8. 7.3 Sample Design 48 7.4 Research Limitation 50 7.5 Research Signification 50 8 Data analysis and interpretation 51 8.1 Doctors 52 8.2 Retailers & Wholesalers 61 9 Finding of 70 9.1 Doctor survey Data 71 9.2 Retailers & Wholesalers Survey Data 72 10 Conclusion 73 11 Suggestion And Recommendation 76 12 Bibliography and Reference 78 13 Annexure 81 Questionnaire of Doctor 82 Questionnaire of Wholesalers and Retailers 84 Products Detail 96
  • 9. Wellcare Lifescience Project report Oakbrook Business School Page 1 1 ITRODUCTION OF PHARMAXEUTICAL INDUSTRIES
  • 10. Wellcare Lifescience Project report Oakbrook Business School Page 2 1.1 History of Pharmaceutical Industry Evolution of pharmaceutical Industry In ancient India the sources of drugs were of vegetable, animal and mineral origin. They were prepared empirically by few experienced persons. Knowledge of that medical system was usually kept secret within a family. There were no scientific methods of standardization of drugs The western or the so-called Allopathic system came into India with the British traders who later become the rulers. Under British rule this system got state patronage. At that time it was meant for the ruling race only. Later it descended to the people and become popular by the close of 19th century Before 1940 Initially all the drugs were imported from Europe. Later some drugs of this system began to be manufactured in this country 1901: Establishment of the Bengal Chemical and Pharmaceutical Works, Calcutta by Acharya Prafulla Chandra Ray 1903: A small factory at Parel (Bombay) by Prof. T.K. Gujjar 1907: Alembic Chemical Works at Baroda by Prof. T.K. Gujjar Drug enquiry committee Government of India on 11th August 1930, appointed a committee under the chairmanship of Late Col. R.N.Chopra to see into the problems of Pharmacy in India and recommend the measures to be taken. This committee published its report in 1931. It was reported that there was no recognized specialized profession of Pharmacy. A set of people known as compounders were filling the gap. Just after the publication of the report Prof. M.L.Schroff (Prof. Mahadeva Lal Schroff) initiated pharmaceutical education at the university level in the Banaras Hindu University.
  • 11. Wellcare Lifescience Project report Oakbrook Business School Page 3 In 1935 United Province Pharmaceutical Association was established which later converted into Indian Pharmaceutical Association. The Indian Journal of Pharmacy was started by Prof. M.L.Schroff in 1939. All India Pharmaceutical Congress Association was established in 1940. The Pharmaceutical Conference held its sessions at different places to publicize Pharmacy as a whole. 1937: Government of India brought ‗Import of Drugs Bill‘; later it was withdrawn. 1940: Govt. brought ‗Drugs Bill‘ to regulate the import, manufacture, sale and distribution of drugs in British India. This Bill was finally adopted as ‗Drugs Act of 1940‘. 1941: The first Drugs Technical Advisory Board (D.T.A.B.) under this act was constituted. Central Drugs Laboratory was established in Calcutta 1945: ‗Drugs Rule under the Drugs Act of 1940‘ was established. The Drugs Act has been modified from time to time and at presents the provisions of the Act cover Cosmetics and Ayurvedic, Unani and Homeopathic medicines in some respects. 1945: Govt. brought the Pharmacy Bill to standardize the Pharmacy Education in India 1946: The Indian Pharmacopoeia List was published under the chairmanship of late Col.R.N. Chopra. It contains lists of drugs in use in India at that time which was not included in British Pharmacopoeia. 1948: 1985 1948: Indian Pharmacopoeia Committee was constituted under the chairmanship of late Dr. B.N. Ghosh. 1949: Pharmacy Council of India (P.C.I.) was established under Pharmacy Act 1948. 1954: Education Regulation has come in force in some states but other states lagged behind. 1954: Drugs and Magic Remedies (Objectionable Advertisements) Act 1954 was passed to stop misleading advertisements (e.g. Cure all pills)
  • 12. Wellcare Lifescience Project report Oakbrook Business School Page 4 1955: Medicinal and Toilet Preparations (Excise Duties) Act 1955 was introduced to enforce uniform duty for all states for alcohol products. 1955: First Edition of Indian Pharmacopoeia was published. 1985: Narcotic and Psychotropic Substances Act has been enacted to protect society from the dangers of addictive drugs. Govt. of India controls the price of drugs in India by Drugs Price Order changed from time to time. PHARMACOPOEIA / FORMULARIES / COMPENDIA The books containing the standards for drugs and other related substances are known as pharmacopoeia and formularies - collectively these books are known as the drug compendia. The pharmacopoeias or formularies contain a list of drugs and other related substances regarding their source, descriptions, standards, tests, formulae for preparing the same, action and uses, doses, storage conditions etc. These books are prepared under the authority of the Government of the respective countries. The word ―pharmacopoeia‖ is derived from the Greek words ‗pharmacon‘ meaning ‗drug‘ and ‗poieo‘ means ‗make‘. Literally it means that it is a list of medicinal substances, crude drugs and formulae for making preparations from them. These books are revised from time to time so as to introduce the latest information available as early as possible after they become established. In order to keep the size of book within reasonable limit it becomes necessary to omit certain less frequently used drugs and pharmaceutical adjuvant from each new edition of the book. Therefore, in each new edition of these books certain new monographs are added while the older ones are deleted. For the preparation of these books the expert opinion of medical practitioners, teachers and pharmaceutical manufacturers are obtained.
  • 13. Wellcare Lifescience Project report Oakbrook Business School Page 5 1.2 Worldwide Pharmaceutical Market The global pharmaceuticals market is worth US$300 billion a year, a figure expected to rise to US$400 billion within three years. The 10 largest drugs companies control over one-third of this market, several with sales of more than US$10 billion a year and profit margins of about 30%. Six are based in the United States and four in Europe. It is predicted that North and South America, Europe and Japan will continue to account for a full 85% of the global pharmaceuticals market well into the 21st century. Companies currently spend one-third of all sales revenue on marketing their products - roughly twice what they spend on research and development. The pharmaceutical industry in India is the world's third-largest in terms of volume. According to the Department of Pharmaceuticals of the Indian Ministry of Chemicals and Fertilizers, the total turnover of India's pharmaceuticals industry between 2008 and September 2009 was US$21.04 billion. The domestic market was worth US$12.26 billion. The industry has a market share of $14 billion in the United States.[4] According to the India Brand Equity Foundation, the Indian pharmaceutical market is likely to grow at a compound annual growth rate (CAGR) of 14-17 per cent in between 2012- 16. India is now among the top five pharmaceutical emerging markets of the world. Exports of pharmaceutical products from India increased from US$6.23 billion in 2006–07 to $10.1bn in 2013(according to IBEF India) a combined annual growth rate of 21.25%.According to Price water house Coopers (PWC) in 2010, India joined the top 10 global pharmaceutical markets in 2020 with turnovers reaching US$50 billion. In 2009-10, India's biopharmaceutical industry grew at 17 percent, with revenues of Rs. 137 billion ($3 billion). Bio-pharma was the biggest contributor, generating 60 percent of the industry's growth at Rs. 88.29 billion, followed by bio-services at Rs. 26.39 billion and bio- agriculture at Rs. 19.36 billion. In 2013, there were 4,655 pharmaceutical manufacturing plants in India, employing over 345 thousand workers. Today the Pharma industry is scrambling to deal with big changes that include:
  • 14. Wellcare Lifescience Project report Oakbrook Business School Page 6 4 Trends 1. The Patent Cliff Billions in revenues will be lost due to patent expiry and the growing competition for low-cost generics. Pharma companies are trying different strategies and expanding their portfolios beyond prescription drugs. 2. Power Shift from Doctors towards Payers and Patients The Patent Cliff is an opportunity for payers and patients to accelerate generic penetration, stabilize costs, reduce price benchmarks and insist on value for money. 3. Cost-containment to Curb Healthcare Deficits Payers must find ways to contain healthcare costs. Exerting more control over the Pharmaceutical industry is one tactic they will use. 4. Patients are Empowered Today‘s patients know more about their diseases, choices for medication and methods of treatment. They are taking more control of their treatment. Implications for Pharma Companies As Pharma works to change strategies, many companies continue to struggle with implementation. Pharma companies must: Improve market access -Market Access is critical to sales and survival. It requires masterful orchestration of a complex web of activities with both internal and external stakeholders. Find growth in new areas -There is still growth ahead for Pharma in mature and fast- growing markets, value innovation, OTC and health nutrition, generics, diagnostics, animal health, vaccines, orphan drugs and new drugs. Be more productive -Pharma companies must reduce costs while improving productivity. R&D, marketing and sales, and manufacturing and supply chains all present opportunities for greater efficiency and productivity. Create partnerships -Partnering with universities or smaller companies can increase Pharma‘s portfolio while reducing development costs and sharing risk. Partnering with payers could bring mutual benefits. Be “patient-centric” -Putting the patient at the centre of strategy and operations, and focusing on health outcomes rather than medicines, distinguishes a Pharma company from rivals and creates long-lasting value.
  • 15. Wellcare Lifescience Project report Oakbrook Business School Page 7 Market Condition of Pharmaceutical Companies in India Revenue of Indian pharmaceutical industry The Indian pharmaceuticals market is expected to expand at a CAGR of 23.9 per cent to reach US$ 55 billion by 2020. Revenue share of Indian pharmaceutical sub-segments With 72 per cent of market share (in terms of revenues), generic drugs form the largest segment of the Indian pharmaceutical sector.
  • 16. Wellcare Lifescience Project report Oakbrook Business School Page 8 Export data of Indian pharma industry In terms of value, exports of Indian pharmaceutical products increased at a CAGR of 26.1 per cent to touch US$ 10.1 billion during FY06-13. Indian pharmaceutical market segments by value Anti-infective drugs command the largest share (16 per cent) in the Indian pharma market.
  • 17. Wellcare Lifescience Project report Oakbrook Business School Page 9 1.3 Top Pharmaceutical Companies Worldwide top 10 Pharmaceutical Companies. In2014 on sales revenue 1 Johnson & Johnson Sales Revenue: $ 65.03 billion 2 Novartis Sales Revenue: $ 57.92 billion 3 Pfizer Inc Sales Revenue: $ 52.7 billion 4 Roche Sales Revenue: $ 50.50 billion 5 Sanofi Sales Revenue:$ 44.96 billion 6 MERCK Sales Revenue: $ 44.1 billion 7 GlaxoSmithKline Sales Revenue: $ 41.4 billion 8 AstraZeneca Sales Revenue: $ 25.7 billion 9 $Eli Lilly & Co Sales Revenue: $ 23.1 billion 10 Abbott Sales Revenue: $ 21.8 billion India Top Pharmaceutical companies 1 Cipla Net sales = 66.86 billion INR 2 Dr Reddy‘s labs Net sales = 69.77 billion INR 3 Ranbaxy labs Net sales = 63.03 billion INR 4 Lupin Laboratories Net sales = 53.64 billion INR 5 Aurobindo Pharma Net sales = 42.84 billion INR 6 Sun pharma Net sales = 40.15 billion INR 7 Cadila Healthcare Net sales = 31.52 billion INR 8 Torrent pharma Net sales = 27.66 billion INR 9 Jubilant Life Net sales = 26.41 billion INR 10 Wockhardt Net sales = 26.5 billion INR
  • 18. Wellcare Lifescience Project report Oakbrook Business School Page 10 2 Wellcare Lifescience
  • 19. Wellcare Lifescience Project report Oakbrook Business School Page 11 2.1 History Company was founded by Mr. Hardik thakkar. He don B. Pharmacy and MBA . Young person Hardik having Four year experience as Medical Representative (M.R) with multinational pharmaceutical company. He having knowledge of pharmacy field as well as management He started wellcare lifesceince in May 2014 with five type of different pharmaceutical product. He was the only person at initial level of the company. He believes in quality and service. With a good response from Ahmedabad he decides to expand his business. And he made partnership type of company After few months Miss Geeta Ganatra also join Wellcare Lifescience and then gradually the increase there product mix, with good success they move to forward. At the same time ex MD of Krushi Bank of Gujarat Mr. Harish Ganatra also join to them. In Feb 2015 with the help of Mr.shyam Ganatra they start exporting in south Africa. With great support of partners now they have 15 products. And they are well settle in Ahmedabad. Moto of Wellcare Lifescience is sale medicine at the most economical rate and to get blesses from patient.
  • 20. Wellcare Lifescience Project report Oakbrook Business School Page 12 2.2 COMPANY PROFILE Name of company Wellcare Lifescience Establishment year May 2014 Headquarters Navarangpura, Ahmedabad Size of organization Small scale Company Form of organization Partnership Registered office 308 Abhushan Complex, Near Kalupur Bank, Opp SVC Bank Stadium Road, Navarangpura , Ahmedabad E Mail I‘d hardik123pharmacy@gmail.com Contact No. 07777916533 Number of Employee 5 Founder of company Mr.Hardik Thakkar Investment 1500000 Product of company Tablets Capsules Suspension Syrups injections Weekly Off Sunday Banker - Average turnover 600000 per month
  • 21. Wellcare Lifescience Project report Oakbrook Business School Page 13 2.3 Organization Structure Organization structure means how the unit runs its business. This is a partnership firm ,so two directors are there in Wellcare Lifescience. They set all the stretegies of business with the support of advisory director Whithin country they handle the all orders of Doctors, Retailers and Distributors . But for exporting of the products they have Export Director. 2.4 Organization Chart 2.5 Mission Vision and Value of Wellcare Lifescience Our Mission To become a leading global pharmaceutical company with the help of satisfied customer blesses. Vision ―Provide highest quality of affordable healthcare for whole humankind ― Managing Director Hardik Thakkar & Geeta Ganatra Advisory Director Harish Ganatra Supply Products to Doctors Supply Products to Retailers Export Director Shyam Ganatra Supply Products to Distributors
  • 22. Wellcare Lifescience Project report Oakbrook Business School Page 14 WellCare LifeSciences is a pharmaceutical firm started with a MASSIVE dream and a vision. We want to be able to make the affordable healthcare accessible in every part of India and the world. Values Demonstrating integrity :: We are consistent and transparent in our decisions and actions. We fulfill our commitments and conduct ourselves in a way that is true to our identity. Striving for excellence :: We aim to deliver the highest quality performance in everything we do. Through creativity and innovation we continuously seek to improve our results. 2.6 Type of work that wellcare Lifescience do Wellcare Lifescience does not have any production unit or any research center they take the order from the market and place the order to the manufacturer. Here the product name is of wellcare lifescinece‘s name but on the lable there ir spesification that product is of lable with wellcare life science but manufacture by the company is printed over their. Wellcare Lifescience got the all products from different manufacturer and then they do marketing of the products with own name. On the label they print ―Marketed By Wellcare Lifescience‖ and ―Manufacture By the Company‖. Here The manufacturer are given bellow List of manufacturer 1 India Life Bio Science, Gandhinagar (Gujarat) 2 Wallen Healthcare, SAS Nagar (Mohali) 3 Fedley Healthcare, Delhi 4 Athens Labs (Delhi) 5 Edwin Healthcare SAS Nagar (Mohali) 6 Gujarat Pharmaceutical, Godhara (Gujarat) 7 Taksh Alliance Industries, Parwanoo (Himachal Pradesh)
  • 23. Wellcare Lifescience Project report Oakbrook Business School Page 15 JOB WORk In real business scenario, it may not be possible for an industry to carry all processes leading to manufacture of final product within its own premises. In such an eventuality the manufacturing unit will have to get the work done i.e. processing of the raw materials or intermediate product from outside. The processes performed outside are called Job Work. Definition Given By Excise In the context of the Central Excise law, Job Work has been defined under Rule 2(n) of the Cenvat Credit Rules, 2004 to mean processing or working upon raw material or semi- finished goods supplied to the job worker, so as to complete a part or whole of the process resulting in the manufacture or finishing of an article or any operation which is essential for aforesaid process. Looking at the above definition we can say that Job Work or Sub Contracting is an activity of taking an order to manufacture or process goods as per the prescription of the client by utilizing material supplied by the client or purchased on behalf of the client and charging him for the services provided as Job Work or Sub Contract. Job Work Flow (process) is common for industries giving/receiving job order, whether falling under Excise or not. Job work Flow is as shown below
  • 24. Wellcare Lifescience Project report Oakbrook Business School Page 16 Reasons for the delegation of job  Job Worker has specialization in the work delegated  Time Constraint on the part of Principal to manufacture the goods  Principal does not have the facility to produce the specific semi finished goods Difficulties in Job Work Process Job Work OUT Following are the problems faced when job is delegated to a Job Worker
  • 25. Wellcare Lifescience Project report Oakbrook Business School Page 17  No standard practice to delegate a Job  Monitor & Analysis of Material  Cost/Profit Tracking: Principal manufacturer can ascertain the cost of manufacture of a job delegated. These statistics can be used to compare and analyze the cost as against cost of manufacture of goods in house or by other Job workers.  Meeting Statutory Requirements Job Work IN Following are the problems faced when a Job is received by the Job worker from the Principal Manufacturers  No standard practice for receiving a Job  Monitor & Analysis of Material Received  Job Worker Invoice  Cost/Profit Tracking: Job Worker can ascertain the cost of manufacture of a job received. These statistics can be used to compare and analyze the cost/profit of job work carried out for different Principal Manufacturers.  Meeting Statutory Requirement. 2.7 MARKETING OF WELLCARE LIFESCIENCE 2.7.1 Marketing Marketing is a dynamic process. Today‘s era is basis on marketing because without marketing any consumer will not have any information regarding your product. So, it would be difficult for a business to sell their product without marketing. In pharmaceutical industries marketing is somewhat tough then other industries because pharmaceutical products are unsought products so it require to get all information about all
  • 26. Wellcare Lifescience Project report Oakbrook Business School Page 18 medical conditions , views of the doctors patients and distributor retailers , how they react towards the pharmaceutical product because pharmaceutical product are sale under the trust and satisfactory result only .so for pharmaceutical product marketing is most important thing that everyone get attract with them but in ethical and legal way ―Marketing is so basic that it cannot be considered a separate function. It is the whole business seen from the point of view of its final result, that is, from the customer‘s point of view.‖ Marketing management has two concepts: Traditional Marketing Approach. Modern Marketing Approach. ―In pharmaceutical industries traditional marketing approach is not that much useful because drugs and medicines are manufactured by the present medical conditions like which disorder are more frequently occur according to essential drug list and time by time some drugs produce their resistance so total study is require‖. 2.7.2 MARKET SEGMENTATION In Pharmaceutical market segmentation is donning according to the different drugs therapeutical use with different age and their different dose forms .according to the geographical place there is variation in the drug dose and formulation. There are several bases for segmentation the market which are as follows: 1 Geographical With different geographical conditions drug doses and formulations are different 2 Demographical With different age every drug dose are different Other two are Psychographic a behavioral both are normally not for pharmaceutical industry. Because Pharmaceutical products are use in the medical treatment but in cosmetic products this type of segmentations are being in use.
  • 27. Wellcare Lifescience Project report Oakbrook Business School Page 19 Pharmaceutical Market is not like B2C type of market here the doctors are the most important part of the business. They prescribe and with the connection of retailer and distributor the business is working. Wellcare Lifescience having the general useable drugs which is prescribe by the doctor frequently NSAIDS, Antacids, protein and vitamins, anti emetic and for pregnant women type of simple segmentation. 2.7.3 PRICING DECISION Pricing is an important decision that every company has to take high price or low price to create a bed prestige of the company. The price of a product is a crucial decision. Wellcare Lifescience have some pricing strategic method that are given bellow Cost Plus Pricing This is the pricing method where price is set with some addition of profit with their actual cost Target Return Pricing Set your price to achieve a target return-on-investment (ROI). Going Rate Pricing They set the price as per the sane product of other company price Price Discrimination They set a price of the product according to the amount of product order. Value Pricing For some product with high quality with high perception rate of consumer value of product is high.
  • 28. Wellcare Lifescience Project report Oakbrook Business School Page 20 2.7.4 Advertising Advertising is non-promotion of goods and services, by a sponsor (a firm or person) who can be identified and who has paid for this communication. This purpose of advertisement is to sell something a good service, idea person or place, either now or later this goal, reached by setting specific objective that can be expressed individual ads. Those are incorporated into an advertising campaign recall again from the buying decision process that buyers go through a series of stages ‗Wellcare Lifescience having no specific advertisement but the connect directly to the retailers and distributers with visualate of the products and with product card distribution with a reference ‘. 2.7.5 SALES PROMOTION ACTIVITES ―Sales promotion is an exercise in information, persuasion and influence.‖ -William J. Stanton Sales Promotion Strategies: There are three types of sales promotion strategies: Push, Pull, or a combination of the two. A push strategy involves convincing trade intermediary channel members to "push" the product through the distribution channels to the ultimate consumer via promotions and personal selling efforts. The company promotes the product through a reseller who in turn promotes it to yet another reseller or the final consumer. Trade-promotion objectives are to persuade retailers or wholesalers to carry a brand, give a brand shelf space, promote a brand in advertising, and/or push a brand to final consumers. Typical tactics employed in push strategy are: allowances, buy-back guarantees, free trials, contests, specialty advertising items, discounts, displays, and premiums.
  • 29. Wellcare Lifescience Project report Oakbrook Business School Page 21 Wellcare Lifescience is usage of this above two strategies for covering the whole business market in Ahmadabad and outside Ahmadabad Wellcare Lifescience Providing discount on bulk purchase and also they providing some offers to the doctors and to the retailers. 2.7.6 DISTRIBUTION CHANNELS Distribution channels are system of economic institutions through which a producer of goods delivers them in to the hands of their users. Wellcare Lifescience is the company doing job work they receive the order from the market and put the order to the manufacturer. So company initially send product to the doctors and retailers, Here Products are used by the patient but it must be dispatch by doctor or retailer‘s reference or preference or precessions. So The channel is fixed for all pharmaceutical products, But There is only one change in Wellcare Lifescience distribution channel wholesalers are not there. Level of Channels are as under Wellcare lifescience  Doctors  Patient Wellcare Lifescience  Distributor  Retailers  Patient Wellcare Lifescience  Retailes  Patient
  • 30. Wellcare Lifescience Project report Oakbrook Business School Page 22 2.7.7 INTERNATIONAL MARKETING International marketing means dealing and selling between two or more countries with agreement for the product or service is called international marketing. Wellcare Lifescience has good international marketing in South Africa around 20 % of its sales. COMPETITORS It is rightly said that, ―without competitors market does not survives‖. And another thing is that in to present market era is perfect competition. In to present marketing era competitors are the key factor for each business. Now a day‘s consumer have alternatives so all the company try to get more market share as compare with the another company. Pharmaceutical market is toughest market where so many small as well as large companies are in competition. Small level company for new market for Wellcare Lifescience in Vadodara Unison Manish Pharma, Unicure, Elysium, Briyosis Large Scale Companies Mankind, Sun Pharma, Dr.Reddy, Torrent Pharma, gsk, Intas pharma
  • 31. Wellcare Lifescience Project report Oakbrook Business School Page 23 2.8 FINANCING OF WELLCARE LIFESCIENCE 2.8.1 Financing The finance function covers both acquisitions of funds as well as their allocation. Thus apart from the issues involved in acquiring external funds, the main concern of finance manager is the efficient and wise allocation of funds to various used Defined in a broad sense. It is viewed as an integral part of overall management. To make wise decisions, a clear understanding of the objectives are sought to be achieved, is necessary. The objectives provide a framework for optimum financial decision-making. 2.8.2 FINANCIAL PLANNING Financial planning means deciding in advance, the financial activities to carried on achieving the basic goal of the company. Financial planning is top make Sure that adequate funds are raised at the minimum cost and that used widely ―The problem of any business is not the examination of profit but the achievement of sufficient profit to cover the risk of economic activity and thus to avoid loss.‖ - Peter F. Drucker There are main two types of financial planning as below mentioned: Wellcare LifeScience belive in short term Financila planning They set several allocation of funds and acording to that they predecide the profit margine 2.8.3 Accounting policies The specific policies and procedures used by a company to prepare its financial statements. These include any methods, measurement systems and procedures for presenting disclosure.
  • 32. Wellcare Lifescience Project report Oakbrook Business School Page 24 Wellcare Lifescience follows the government norms and instruction which are mentioned in to the GAAP (Generally Accepted Accounting Principles). This company follows the all rules and regulation of government. 2.8.4 Working capital Working capital is the amount of funds necessary to cover the cost of operating the enterprise. Working capital management usually concerned with the administration of this assets viz. cash and marketable securities, receivable and inventory. Financial Record of Wellcare Lifescience PARTICULERS AMOUNT Sales 6800000 Investment 3500000 Purchase Expense 10000 Opening Stock 900000 Closing Stock 400000 Selling Expense 100000 Manue & Other Expenses 90000 Current Assets 1000000 Current Liablities 500000 Capital 1500000 Fixed Asset 3000000 Secured Loan 400000 Unsecured Loan Nill Gross Progit 1000000 Net Profit 545000
  • 33. Wellcare Lifescience Project report Oakbrook Business School Page 25 2.9 PRODUCTS OF WELLCARE LIFESCIENCE Sr. No Product Name Product Use Product Image 1 Carecef– 200 Used to treat a wide variety of bacterial infections. 2 Acepar– SP This drug is used to treat mild to moderate pain and to reduce fever. 3 Ondi- MD4 Used to treat and prevent chemotherapy- induced nausea and vomiting and radiotherapy-induced nausea and vomiting. 4 ACIARE- DSR Usr in treatment of duodenal ulcers and erosive or ulcerative GERD 5 ACENEC- P It is used for the relief of pain and inflammation in rheumatoid arthritis, osteoarthritis and ankylosing spondylitis.
  • 34. Wellcare Lifescience Project report Oakbrook Business School Page 26 6 WellVita For Pediatric Used in treating or preventing low levels of vitamins and minerals in the body. 7 Besty For Pediatric For increasing the level of vita B this drops are being in use. 8 Teniwell CV For Pediatric Treatment of children with recurrent or persistent acute otitis media. 9 Well-D3 For Pediatric Use in deficiency of Vita- D
  • 35. Wellcare Lifescience Project report Oakbrook Business School Page 27 3 Literature Review
  • 36. Wellcare Lifescience Project report Oakbrook Business School Page 28 Reviewing the literature: -Essential preliminary task in order to acquaint yourself with the available body of knowledge in your area of interest. -Literature review is integral part of entire research process and makes valuable contribution to every operational step. -Reviewing literature can be time-consuming, daunting and frustrating, but is also rewarding. Its functions are: a. Bring clarity and focus to your research problem; b. Improve your methodology; c. Broaden your knowledge; d. Contextualize your findings. For SOWT analysis of new pharmaceutical company literature are given bellow © Kyoung Kim Yee, Lee Keun, Park Walter G and Choo Kineung found that appropriate intellectual property protection and economic growth in countries at different levels of development, http://www.sciencedirect.com. It was found that patent protection is an important determinant of innovation and that patentable innovations contribute to economic growth in developed countries, but not in developing. Instead, in developing economies, a minor form of intellectual property rights (IPRs). It was found that utility model innovations contribute to firm performance when firms are technologically lagging and that those minor innovations can be a learning device and thus a stepping stone for developing more patentable inventions later on. Thus the lesson here is that patent protection enhances innovation and economic growth in countries where the capacity to conduct innovative research exists. Where this capacity is weaker, a system that provides incentives to conduct minor, incremental inventions is more conducive to growth. The significance of this paper is to emphasize the importance not just of the strength of IPRs but of the appropriate type of IPRs for economic development © According to Schuiling and Moss (2004), 2013 Society of Interdisciplinary Business Research (www.sibresearch.org)
  • 37. Wellcare Lifescience Project report Oakbrook Business School Page 29 Pharma companies have not worked proactively in identifying a brand and identity for their products and in communicating this identity to consumers. In particular, generic drugs in the competition, it is extremely important for pharmaceutical companies to understand the difference in consumer‘s perceptions and purchase intentions between branded and generic drugs, as this understanding can help the pharmaceutical companies to better estimate the financial impact of drug when launching a more likelihood of consumers purchasing a branded drug, the more confident a pharmaceutical company will be in making an investment in the branding process. Zara Ladha in 2007 studied perceived difference between generic and branded drugs in terms of efficacy, willingness of people to pay for branded drugs and trust of people in doctor prescribed drugs. Important factors studied were attributes like price, name, and doctor‘s prescription, past experience, advertisement and promotion. The conclusions were like the only influencing factor given more importance for prescription versus non-prescription medicines Other factors like in store promotion, price, family/friend‘s, brand name and advertising play a significant role in purchase making. © E. Osinga from Tilburg Universityin in 2010 measure Influences of pharmaceutical marketing on the prescribing behavior of physicians in the United States and in the Netherlands Partly due to high administrative costs that originate from private insurances, and increasing costs for medical technology and prescription drugs The United States has the most expensive health care system in the world (The U.S. health care system : Best in the world, or just the most expensive?, 2001). This leads to the fact that many people in the United States cannot afford health insurance. In the Netherlands health care is provided by private health suppliers. Everybody who lives or has a job in the Netherlands is legally obliged to purchase basic health insurance. Though, health insurance is obliged, a significant number of people is still uninsured. Concerning pharmacist power, pharmacists are allowed to substitute a prescribed drug in both countries. A difference is that in the United States the power of the pharmacists is more heavily regulated. One of the major distinguishing factors when defining both markets is that in the Netherlands direct-to-consumer advertising is not allowed. In the United States DTCA is allowed, which brings forward increases in sales volume, yet it also leads to the negative effect that in the United States drugs are prescribed irrationally more
  • 38. Wellcare Lifescience Project report Oakbrook Business School Page 30 often. Physician education does not differ tremendously between the Netherlands and the United States, however in the United States the market is more transparent compared to the Netherlands. © Aikin, K. J., Swasy, J. L., & Braman, A. C. (2004). Patient and physician attitudes and behaviors associated with DTC promotion of prescription drugs. Pharmaceutical companies continue to increase funding for direct-to-consumer advertising. Evidence discussed above suggests that direct-to-consumer advertising stimulates patient demand for pharmaceuticals, may influence physician prescribing habits and likely increases drug spending. Consumers are aware of these advertisements, and discussions about them are becoming part of the routine provider-patient relationship. As the phenomenon of direct-to- consumer advertising evolves and the prevalence increases, providers need to continue in their role as advocates for patients. To do this effectively, providers should stay educated about new medications and the evidence for their use. Providers need to understand that patients may not have adequate information about a particular drug from advertisements, especially risks, and that specific reinforcement of the risks of a drug is key to assuring the patient makes an informed decision. Additionally, providers may want to prepare printed material for patients ahead of time for some of the most heavily advertised drugs. This may save time during the visit for other concerns and reinforce the provider‘s role as advocate rather than create tension during a visit. © Aditya Bhattacharjea and Fiyanshu Sindhwani. (2014) research on “Competition Issues in the Indian Pharmaceuticals Sector “ In Pharmaceutical market there is so tough market competition so each company wants to lead. For making ethical competition they made some laws related to that and for that laws they set specific categories type of principle and all companies must have to follow that all things. The maximum copy rights case we see in pharmaceutical formulation , so to make all thing ethical with respect to original formulation all industries must have to work that they saw in the research. Pricing is the biggest issue that they found they saw every company having different price with same therapeutic use and with same API content so as per the company product quality and company pricing strategy companies are came forward with the market responds,
  • 39. Wellcare Lifescience Project report Oakbrook Business School Page 31 © Sanjiwani Jayant Kumar KJ Somaiya Studies and Research on Product and Brand Positioning Typologies with Respect to Pharmaceutical Companies in 2013 Success of a company is dependent on successful positioning typology. Success of the company which is measured in terms of financial performance depends on positioning typology which majorly is Company image / reputation, product quality, efficacy, reliability and quality of the product. Success of the company is dependent on the trust in the company. Trust is a measurable variable and is understood as reliable company, honest company and altruism. There is a significant difference between different positioning strategies in terms of output expected. More competent company generates more trust in physicians mind. Trust in the company is reflected through financial performance of the company. © D. K. Nauriyal and Dukhabandhu Sahoo (2015 ) research on The New IPR Regime and Indian Drug and Pharmaceutical Industry: An Empirical Analysis. Has the new IPR regime helped the firms of the D&P industry to perform better? Yes, if the performance is measured in terms of their sales revenue. The study confirms that even though the R&D expenditure of the firm is less effective than the advertisement and marketing expenditure, expenditure of the firm on this head in the long run can be more productive in the form of more commercial patent patents and higher revenue. Furthermore, the study also calls for more marketing and advertisement expenditure on the part of the firms to create a ‗niche market‘ for their product with ‗brand loyalty‘ among the consumer © JSB Intelligence UK in 2005 studied on Strategic Analysis of the Pharma Market, Future Revenue Models and Key Players “ Products are given higher priority over all approaches towards success including choice of right partners, branding, CRM, and pricing. The new product lines are focused on modifying disease based on NMEs, than geared towards symptoms. They will target therapeutic classes such as cancer, infectious, female/male health, cardiovascular, metabolic, inflammatory, and lifestyle diseases. New revenue models are favoring pharma companies despite the fall of block busters. Pharma companies need to significantly cut down their costs, by as much as 13.5% of the revenues, and offset future loss of revenues caused by withdrawing block busters. The winning proposition will come in the form of short and long term strategies. Short term strategies are mainly geared towards pre- and post-patent expiry directives, and the launch of semi block busters. Long term strategies revolve around owned health care
  • 40. Wellcare Lifescience Project report Oakbrook Business School Page 32 kiosks and consistent improvement in efficiency and cost reduction with the help of the integrated network mode © Li Ying in 2013 don Analysis of Marketing Strategy Plan of Pharmaceutical Company They found, a marketing strategy plan for Jiangxi Chenxin pharmaceutical company in the medicinal market. The analysis of the case company helps the author realize today's situation of the market. Internal analysis, PESTLE analysis, market analysis and SWOT analysis are necessary to obtain a complete understanding. Through the interview and questionnaire, the author get realizing the real situation of the case company. The case company needs to pay more attention to customers and its brand images than it does today. The final future marketing strategy plan should be changed based on the economic development and the industry changes. The case company needs to change 41 the traditional marketing strategy system that seems to be unsuitable for them to become a manufacturer. It has changed the services at different levels, for example, different products for different customers. The case company can use strength to maximizing brand potential. The case company should develop products, to achieve growth, create value and obtain economies of scale. © by Kapil Kumar DR. M. K. Kulshreshitha in 2013 don reearchon SWOT analysis of Indian Pharmaceutical Industries. Pharma manufacturers are likely to benefit from rise in demand for generic products. Some of the factors that would drive growth in the domestic pharma industry are: 1) low cost operations 2) research-based processes 3) improvements in API and 4) availability of skilled manpower. The domestic formulations and bulk drugs markets are currently facing price pressure as benefits of cheaper drugs have been shifted to end-users and trade channels. Hence, consolidation, partnership and alliances are expected to gather momentum in the near future. Off patenting of branded drugs would increase demand for generic drugs. This provides immense opportunities to the Indian pharmaceutical companies especially given their prior experience in generic drug development. Some other factors such as high penetration in the global markets and increase of share in Abbreviated New Drug Application (ANDA) filings are likely to power growth of the formulations market. Major growth drivers for the Indian bulk drug industry include rise in demand for contract manufacturing, increase
  • 41. Wellcare Lifescience Project report Oakbrook Business School Page 33 of share in Drug Master Files (DMF) filings and process innovation. Furthermore, initiatives of the Government will act as a backbone for growth. Some such initiatives include: 1) allowing 100% FDI under the automatic route in drugs and pharmaceuticals including those involving use of recombinant technology 2) increasing weighted tax deduction on expenditure in in-house R&D activities to 200% in the Budget 2010 and 3) setting up a US$ 639.56 mn venture capital fund to support drug discovery and strengthen pharmaceutical infrastructure.
  • 42. Wellcare Lifescience Project report Oakbrook Business School Page 34 4 Problem Statement
  • 43. Wellcare Lifescience Project report Oakbrook Business School Page 35 THE RESEARCH PROCESS AND FORMULATION OF RESEARCH PROBLEM The research process is similar to undertaking a journey. For a research journey there are two basic thing I kept in my mind which are the question and how I have to solve it? 1 Research is on the basis of what kind of things helpful for the new pharmaceutical company and which are the things that push back to the bottom to a new pharmaceutical company Which kind of things are there in doctors and in retailers mind for new pharmaceutical company? Which kind of market that Vadodara have for new pharmaceutical company? mWhat is their perception towards new pharmaceutical company? 2 We have to know which are the strength and weakness, which are the opportunity and threats are there for new pharmaceutical company. It means we have to find the external and internal attributes which helpful and harmful for the company. Formulating Problem Statement So many pharmaceutical companies are there in Indian Market so for a new pharmaceutical company cannot set themselves in the market, for that we have to find the way through which the company can make a strategy and set them self in less time Which kind of work they have to do to increase their strength and how they reduce their weakness. New pharmaceutical company having several problems like- 1 Doctors generally not prefer a new pharmaceutical company products .they think that it may have quality problem, it may have service problem it may have price problem. 2 Retailers never wish to store new pharmaceutical company problem because customers and doctor having less trust on the new company
  • 44. Wellcare Lifescience Project report Oakbrook Business School Page 36 3 New Company having no previous experience so no one wants to take risk for the medicinal therapy 4 Everyone have wrong perceptions about new companies have problem with their reliability service quality etc 5 Because of giant competition and numbers of companies are available so customers have more choices. From This we can say that we have to know about new pharmaceutical company Strength that separate the company from other, we have to work on our weakness, we have to find the way or opportunity that new company can lead, also looking for the threat in pharmaceutical industry So in short we have to do The SWOT Analysis of New pharmaceutical Company
  • 45. Wellcare Lifescience Project report Oakbrook Business School Page 37 5 RESEARH TOPIC SWOT ANALYSIS OF NEW PHARMACEUTICAL COMPANY SWOT ANALYSIS
  • 46. Wellcare Lifescience Project report Oakbrook Business School Page 38 Albert Humphrey was an American business and management consultant. During his work at the Stanford Research Institute (1960 – 1970), he produced a team method for planning which was named SOFT analysis, this has developed into what we now know as a SWOT analysis. SWOT is worth noting that you should set the final objective after completing the SWOT analysis. The reason for this is to ensure that the objectives are achievable and not unrealistic given the current internal and external environments. Each organization or business has to deal with both internal and external factors that affect them. Users of the SWOT analysis can therefore use the first two sections (Strengths and Weaknesses) to help them identify all of the internal factors. The last two sections (Opportunities and Threats) will be used to identify all of the external factors. When determining each of the sections it is really important that the right questions are asked. A SWOT analysis that does not produce or help towards producing realistic and achievable goals is useless. Have a look at the ―sample‖ questions that you could ask for each section. These are just a short selection and will differ from objective to objective and from organization to organization. The important point to take away is that the right question will help to produce a really valuable SWOT analysis.
  • 47. Wellcare Lifescience Project report Oakbrook Business School Page 39 Strengths(Internal factor / Positive influence)  What are we best at?  What intellectual property do we own that can help us with this objective?  What specific skills does the current workforce have that can contribute to this objective?  What financial resources do we have for reaching this objective?  What connections and alliances do we have?  What is our bargaining power with both suppliers and intermediaries? Opportunities (External factor / Positive influence)  What changes in the external environment can we exploit?  What weaknesses in our competitors can we use to our advantage?  What new technology might become available to us?  What new markets might be opening to us?
  • 48. Wellcare Lifescience Project report Oakbrook Business School Page 40 Weaknesses (Internal factor / Negative influence)  What are we worst at doing?  Is our intellectual property outdated?  What training does our workforce lack?  What is our financial position?  What connections and alliances should we have, but don‘t? Threats (External factors / Negative influence)  What might our competitors be able to do to hurt us?  What new legislation might damage our interests?  What social changes might threaten us?  How will the economic cycle affect us? As mentioned before, the above list is not comprehensive. You can also turn a threat into an opportunity or something that is a weakness today might be turned into a strength with some effort. The SWOT analysis is taught to students in the Certificate in Professional Marketing and is used in the Marketing module together with a PEST or PESTEL analysis to produce a comprehensive audit of the internal and external environment for an organization which they will take into the exam.
  • 49. Wellcare Lifescience Project report Oakbrook Business School Page 41 6 Research Objective
  • 50. Wellcare Lifescience Project report Oakbrook Business School Page 42 The formulation of objectives: -Objectives are the goals you set out to attain in your study. -They inform a reader what you want to attain through the study. -It is extremely important to word them clearly and specifically. Objectives should be listed under two headings: a) main objectives ( aims); b) sub-objectives. Main Objective  To find the Strength, weakness, Opportunities and threat of the company and all new pharmaceutical companies.  To find out the perception and expectation of doctors and retailers towards the new pharmaceutical company. Sub Objectives  To find out the big player of the market (Tough Competitor).  To find the way for new pharmaceutical company from tough competition.  To create strategy for company with the help of research detail.  To analyze Vadodara market for company.  To create good communication bridge between new company to doctors and retailers, that fulfill all require expectation of both.
  • 51. Wellcare Lifescience Project report Oakbrook Business School Page 43 7 RESEARCH METHODOLOGY FOR RESEARCH TOPIC “SWOT ANALYSIS OF NEW PHARMACEUTICAL COMPANY”
  • 52. Wellcare Lifescience Project report Oakbrook Business School Page 44 7.1 Definition And Types Research Research is undertaken within most professions. It is a habit of questioning what you do, and a systematic examination of the observed information to find answers with a view to instituting appropriate changes for a more effective professional service. DEFINITION OF RESEARCH The word research is composed of two syllables, re and search. Re is a prefix meaning again, anew or over again search is a verb meaning to examine closely and carefully, to test and try, or to probe. Together they form a noun describing a careful, systematic, patient study and investigation in some field of knowledge, undertaken to establish facts or principles. Research is a structured enquiry that utilizes acceptable scientific methodology to solve problems and create new knowledge that is generally applicable. Scientific methods consist of systematic observation, classification and interpretation of data. ―Our research is on pharmaceutical industries that how new company can expand business in tough competition which are the harmful and helpful things‖ TYPES OF RESEARCH Research can be classified from three perspectives: 1. Application of research study 2. Objectives in undertaking the research 3. Inquiry mode employed Application: From the point of view of application, there are two broad categories of research: - Pure research and - Applied research.
  • 53. Wellcare Lifescience Project report Oakbrook Business School Page 45 ―SWOT analysis is one type of applied research where we have to find out the Strength, Weakness, opportunities and Threat via knowing the doctors and retailer perceptions and reactions towards new pharmaceutical company‖. Objectives: From the viewpoint of objectives, a research can be classified as - Descriptive - Co relational - Explanatory - Exploratory ―From the SWOT analysis we can know what are the real problem that face new pharmaceutical company and get the bulk information about the market condition for new pharmaceutical company so my research is descriptive type of research ―. Inquiry Mode: From the process adopted to find answer to research questions – the two approaches are: - Structured approach - Unstructured approach Main objective is to describe the variation in a phenomenon, situation or attitude. ―Here in my research I have to know perceptions and reactions it means I have to know the attitude of doctors and retailers so my research is of unstructured type of research‖.
  • 54. Wellcare Lifescience Project report Oakbrook Business School Page 46 7.2 PREPARING THE RESEARCH DESIGN Research design is the conceptual structure within which research would be conducted. The function of research design is to provide for the collection of relevant information with minimal expenditure of effort, time and money. The preparation of research design, appropriate for a particular research problem, involves the consideration of the following: 1. Objectives of the research study. 2. Method of Data Collection to be adopted 3. Source of information—Sample Design 4. Tool for Data collection 5. Data Analysis-- qualitative and quantitative Objectives of the Research Study With respect to the objective our research study is on ―Doctors & Retailers and Wholesalers‖ Major and Sub objective are there in topic 6 Research objective. Methods of Data Collection: There are two types of data Primary Data: collected for the first time Secondary Data: those which have already been collected and analyzed by someone else. ―Here for the research I used primary and secondary both data collection‖ Methods for Primary Data Collection OBSERVATION METHOD: Commonly used in behavioral sciences It is the gathering of primary data by investigator‘s own direct observation of relevant People, actions and situations without asking from the respondent.
  • 55. Wellcare Lifescience Project report Oakbrook Business School Page 47 EXPERIMENTAL METHOD Also called Empirical Research or Cause and Effect Method, it is a data-based research, coming up with conclusions which are capable of being verified with observation or experiment. Experimental research is appropriate when proof is sought that certain variables affect other variables in some way. I use Survey method for my research SURVEY METHOD Approach most suited for gathering descriptive information. Structured Surveys: use formal lists of questions asked of all respondents in the same way. Unstructured Surveys: let the interviewer probe respondents and guide the interview according to their answers. For my research I prepare one questionnaire as per my research objective so my is ―structured survey‖. Survey research may be Direct or Indirect. Direct Approach: Would you like to use new pharmaceutical company product? Indirect Approach: Do you have experience with new pharmaceutical company? How was that? From the response, the researcher may be able to discover why the consumer avoids ―I used both type of research question in my questionnaire in structured survey‖  Secondary data are collected from books, from official websites, literatures etc. CONTACT METHODS: Information may be collected by Mail Telephone Personal interview
  • 56. Wellcare Lifescience Project report Oakbrook Business School Page 48 ―I used Personal Interview for my questionnaire‖ Personal Interviewing: It is very flexible and can be used to collect large amounts of information. Trained interviewers are can hold the respondent‘s attention and are available to clarify difficult questions. They can guide interviews, explore issues, and probe as the situation requires. Personal interview can be used in any type of questionnaire and can be conducted fairly quickly.Interviewers can also show actual products, advertisements, packages and observe and record their reactions and behavior. This takes two forms- Individual- Intercept interviewing Group - Focus Group Interviewing ―I personally meet to all the doctors and retailers & wholesalers and take the answer from them‖. ―Here For my research I prepared two questionnaires one is for doctors and another one is for retailers & wholesalers. Both questionnaires are seemlier in nature just a difference is in some questions and with some behaviors‖. 7.3 DETERMINING SAMPLE DESIGN Researchers usually draw conclusions about large groups by taking a sample.A Sample is a segment of the population selected to represent the population as a whole. Ideally, the sample should be representative and allow the researcher to make accurate estimates of the thoughts and behavior of the larger population. Designing the sample 1 The Sample- Doctors and Retailers & wholesalers 2 Sample Size- Total 100 Sample Doctors – 60 Retailers & Wholesalers – 40
  • 57. Wellcare Lifescience Project report Oakbrook Business School Page 49 3 Sampling ―I used probability and non probability sampling both‖. Non Random Sampling for Doctors Quota sample - MBBS, Specialist (Eye, Ear, Nose) Neurologist, Orthopedic, Pediatric, Dentists Random Sampling Simple random sampling - All different type of doctors are sample out randomly ―All retailers & Wholesalers are sample out according to the particular doctor connection and within doctors rang‖. Tool for Data Collection (Research instrument) The construction of a research instrument or tool for data collection is the most important aspect of a research project because anything you say by way of findings or conclusions is based upon the type of information you collect, and the data you collect is entirely dependent upon the questions that you ask of your respondents. The famous saying about computers- ―garbage in garbage out‖- is also applicable for data collection. The research tool provides the input into a study and therefore the quality and validity of the output (the findings), are solely dependent on it. The Questionnaire: Structured surveys/ interviews employ the use of a questionnaire. A questionnaire consists of a set of questions presented to a respondent for answers. The respondents read the questions, interpret what is expected and then write down the answers themselves. There are three basic types of questionnaire: • Closed –ended • Open-ended • Combination of both In my Both Questionnaires I used all three type of question In Doctors questionnaire – 8 Questions out of them 1 open ended, 6 close ended and 1 combination of both.
  • 58. Wellcare Lifescience Project report Oakbrook Business School Page 50 In Retailers & Wholesalers – 7 questions out of them 1 open ended, 5 close ended and 1 combination of both. 7.4 Research Limitation  From the entire population research is only on 60 doctors and 40 Retailers with wholesalers which is less sample size.  Here in our research target audience is only of Vadodara‘s doctors retailers and wholesalers, there may variation in result with other cities.  Research is basically don with some perception of the both the hand means of researcher and target audience both.  Respondent‘s reluctance to answer questions asked by unknown interviewers about things they consider private. Busy people may not want to take the time.  May try to help by giving pleasant answers  May answer in order to look smart or well informed. 7.5 Research Signification  Marketing and operation Strategy creation become easy with the help of research data.  We can get the perception and expectation of the doctors and retailers from New pharmaceutical company.  We can get the helpful and harmful attribute for new pharmaceutical company in India.  To know Pharmaceutical market of Vadodara.  We can get the previous experience of new pharmaceutical company from doctor and Retailers.  We can catch the biggest threat creator player of market.
  • 59. Wellcare Lifescience Project report Oakbrook Business School Page 51 8.1 ANALYSIS AMD INTERPRETATION OF DOCTOR SURVEY DATA
  • 60. Wellcare Lifescience Project report Oakbrook Business School Page 52 1 Do you prefer to use (Prescribe or dispense) a new pharmaceutical company products? Yes ⃝ No ⃝ Result Percentage Yes 33 55 NO 27 45 60 100 Interpretation From the graph we can say easily that the 55 percent doctors are ready to prescribe or dispense new pharmaceutical products in Vadodara. There is a chance to success in Vadodara if they sale their product in Vadodara. So there is good opportunity to do business for new pharmaceutical company. 55 45 Percentage % Yes NO
  • 61. Wellcare Lifescience Project report Oakbrook Business School Page 53 2 If you have any experience with new pharmaceutical products, then how was it? Excellent ⃝ Very Good ⃝ Good ⃝ Average ⃝ Bad ⃝ Very Bad ⃝ Poor ⃝ Result Percentage Excellent 0 0 Very Good 3 5 Good 20 33.333333 Average 27 45 Bad 7 11.666667 Very Bad 3 5 Poor 0 0 60 100 Interpretation In Vadodara doctors having average experience with new pharmaceutical company product. We can say that doctors will prefer to use a new pharmaceutical company product. So new pharmaceutical company having a opportunity to set themselves. 0 10 20 30 40 50 Percentage % Percentage
  • 62. Wellcare Lifescience Project report Oakbrook Business School Page 54 3 What do you like most? Prescribing ⃝ Dispensing ⃝ Result Percentage Prescribing 54 90 Dispensing 6 10 Interpretation From the above graph maximum doctor prefer to prescribe. So new pharmaceutical company have target customers are Retailers and Wholesalers. So for the new pharmaceutical company has to make strategy towards retailers more, so with the recommendation of doctor and support of retailer new pharmaceutical company is working. Condition is like doctors recommendation and retailers attraction base business will succeed for new pharmaceutical company. 90 10 Percentage % Prescribing Dispensing
  • 63. Wellcare Lifescience Project report Oakbrook Business School Page 55 4 What would make you prescribe a new Company over the well settle company for pharmaceutical products? Economic to doctor Economic to patient Higher Quality Better service Other: - ______________________ Result Percentage Economic to Doctor 7 11.666667 Economic to Patient 51 85 Higher Quality 36 60 Better Service 21 35 Other 2 3.3333333 Interpretation From the above graph result, it shows that to prescribe a new company product over the well settle company the product must be economic to the patient and with good quality is require. So there is an opportunity for new company, if new pharmaceutical company product is economic to patient and good in quality then they can set their business more quickly. So company with good quality will definitely make there image in market. 11.66666667 85 60 35 3.333333333 Percentage % Economic to Doctor Economic to Patient Higher Quality Better Service Other
  • 64. Wellcare Lifescience Project report Oakbrook Business School Page 56 5 What is your perception towards new pharmaceutical company? Quality Issues Service Issues Reliability Issues Availability Issues Price Issues Percentage Result Quality Issue 70 42 Service Issue 50 30 Reliability Issue 70 42 Availability Issue 51.66667 31 Price Issue 23.33333 14 All 13.33333 8 Interpretation From the above graph can say that , new pharmaceutical company having several issues from that all availability and reliability issue are the most, some of doctor also suffer with all the issues also. So new pharmaceutical company having biggest weaknesses are availability and reliability issues are generated. If new company work on it , so they can take it as opportunities also. 0 20 40 60 80 Quality Issue Service Issue Reliability Issue Availability Issue Price Issue All Percentage % Percentage
  • 65. Wellcare Lifescience Project report Oakbrook Business School Page 57 6 Which is the first thing you see in a product with a new Pharmaceutical company? Quality & Commitment ⃝ Price ⃝ Service & Regularity ⃝ Packaging ⃝ % Percentage Result Quality & Commitment 51.67 31 Service & Regularity 11.67 7 Price 31.67 19 Packaging 5 3 100 60 Interpretation From the above analysis, it shows 51.67 percentage of doctors looking for quality and commitment when new pharmaceutical company product came in market. So it indicates that with good quality and with comfortable price doctor will defiantly go with new pharmaceutical company product. 51.67 11.67 31.67 5 Percentage Quality & Commitment Service & Regularity Price Packaging
  • 66. Wellcare Lifescience Project report Oakbrook Business School Page 58 7 As per your point of view rank the new company features. (1-6) Availability & Service Product Mix Patient satisfaction Good Quality Packaging Type Comfortable price Rank Result 1 2 3 4 5 6 Availability & Service 16 6 13 13 4 8 60 Good Quality 21 20 10 4 2 3 60 Product Mix 4 4 5 14 23 10 60 Packaging Type 0 2 2 6 25 25 60 Patient Satisfaction 16 18 16 8 2 0 60 Comfortable Price 3 10 14 15 4 14 60 60 60 60 60 60 60 Rank Result in Percentage 1 2 3 4 5 6 Availability & Service 26.67 10 21.67 21.67 6.67 13.33 100 Good Quality 35 33.33 16.67 6.67 3.33 5 100 Product Mix 6.67 6.67 8.33 23.33 38.33 16.67 100 Packaging Type 0 3.33 3.33 10 41.67 41.67 100 Patient Satisfaction 26.67 30 26.67 13.33 3.33 0 100 Comfortable Price 5 16.67 23.33 25 6.67 23.33 100 100 100 100 100 100 100 0 5 10 15 20 25 30 1 2 3 4 5 6 Availability & Service Good Quality Product Mix Packaging Type Patient Satisfaction Comfortable Price
  • 67. Wellcare Lifescience Project report Oakbrook Business School Page 59 Interpretation From the above analysis the priority of doctors shows the first priority is good quality for pharmaceutical product and last priority is to Packaging type. It shows 1 to 6 rank order priority of doctors Average rank order of priority characteristic of pharmaceutical company to doctor is Rank 1 Good Quality 2 Patient Satisfaction 3 Availability & Service 4 Comfortable Price 5 Product Mix 6 Packaging Type From this we can set priority of work which is hundred percentage work is require but by at the some extant which come first or which things are more accurate. 0 10 20 30 40 50 1 2 3 4 5 6 Availability & Service Good Quality Product Mix Packaging Type Patient Satisfaction Comfortable Price
  • 68. Wellcare Lifescience Project report Oakbrook Business School Page 60 8 Give your special suggestion for new pharmaceutical company? Some of the acceptable suggestion are given bellow that help to the new pharmaceutical company to set themselves in most successive way… 1 Quality work is under the GMP and ISO but regularity and service is depends on company itself. Focus on Service. 2 R&D work push company growth more quickly. Existing are there but do something innovative. 3 Do complete market analysis and implement your strategy according to the most ethical way. 4 Do qualitative work and get the all certification of that and maintain it for a long time. 5 Do the ethical work and get profit out of it. 6 Do not produce same molecule products, make some combinatory molecule that help to patient and doctor both. 7 Packaging is most important thing, show creativity in packaging.
  • 69. Wellcare Lifescience Project report Oakbrook Business School Page 61 8.2 ANALYSIS AMD INTERPRETATION OF Retailer & Wholesaler Survey Data
  • 70. Wellcare Lifescience Project report Oakbrook Business School Page 62 1 Would you like to try working with a new pharmaceutical Company? Yes ⃝ No ⃝ Answer % Percentage Yes 29 72.5 No 11 27.5 40 100 Interpretation From the graph we can easily say that retailers and wholesalers like to work with new pharmaceutical company. So as per the survey it indicate that new pharmaceutical company having good opportunity to set themselves in this positive looking market, where consumers are ready to join. 72.5 27.5 Percentage Yes No
  • 71. Wellcare Lifescience Project report Oakbrook Business School Page 63 2 Which is the first thing you see in a product with a new pharmaceutical company? API Content ⃝ Price ⃝ Availability ⃝ Therapeutic use ⃝ Packaging ⃝ Result % Percentage API Content 12 30 Price 10 25 Availability 8 20 Therapeutic Use 7 17.5 Packaging 3 7.5 40 100 Interpretation From the graph its shows that everything is more or less equal so everything is the first look of product by the retailers but the most viewer look for the API content that product have is the first thing when the new pharmaceutical company product in retailers hand. So from the result we can say new company has to work on all then and only then new company make there image well in market. 30 25 20 17.5 7.5 Percentage API Content Price Availability Therapeutical Use Packaging
  • 72. Wellcare Lifescience Project report Oakbrook Business School Page 64 3 What would make you prefer a new Company over the well settle company for pharmaceutical products? Competitive rates Packaging type Higher Quality Availability & Service % Percentage Result Competitive Rates 52.25 19 Packaging Type 22 8 Higher Quality 35.75 13 Availability & Service 57.75 21 Interpretation From graph result it clearly shows that to compete the well settle pharmaceutical company new pharmaceutical company have to focus on competitive rate and availability & Service. This shows the clear way to satisfy the retailer and wholesalers requirement. Percentage Competitive Rates Packaging Type Higher Quality Availability & Service
  • 73. Wellcare Lifescience Project report Oakbrook Business School Page 65 4 What dissatisfy you with current Pharmaceutical company products? Price Availability & Service Packaging Type Quality % Percentage Result Price 52.5 21 Packaging type 10 4 Availability & Service 40 16 Quality 20 8 Interpretation Its shows the current market is cover with the high price . Most of the retailers are dissatisfy with the price from current pharmaceutical company products. So we can say that with comfortable price of products retailer will defiantly attract with new pharmaceutical company. 52.5 10 40 20 Percentag Price Packaging type Availability & Service Quality
  • 74. Wellcare Lifescience Project report Oakbrook Business School Page 66 5 Which companies Pharmaceutical Products you store in bigger quantity? Exemed pharma Elysium Unicure Manish Pharma Briyosis Sarabhai Pharmaceutical Other: - _______________ Company Name Result Percentage Exmed Pharma 3 7.5 Elysium 4 10 unicure 17 42.5 Briyosis 2 5 Sarabhai 17 42.5 Manish Pharma 8 20 Unison 28 70 Other 6 15 Interpretation From the result there are so many competitors but the biggest market is of Unison pharmaceutical company. This graph shows that the newly enter pharmaceutical companies has the toughest competitor name Unison pharma So it indicate that new company has to make strategy with put center to the unison company as target. 7.5 10 42.5 542.5 20 70 15 Percentage Exmed Pharma Elysium unicure Briyosis Sarabhai Manish Pharma Unicure Other
  • 75. Wellcare Lifescience Project report Oakbrook Business School Page 67 So from the graph the biggest threat maker is unison pharmaceutical for new company in Vadodara. 6 As per the point of view rank the new company features. (1-6) Availability & Service Product Mix Patient satisfaction Good Quality Packaging Type Comfortable price Rank Result 1 2 3 4 5 6 Availability & Service 10 4 9 8 4 5 40 Good Quality 10 17 5 3 2 3 40 Product Mix 4 6 2 10 8 10 40 Packaging Type 0 3 4 1 17 15 40 Patient Satisfaction 11 8 11 5 4 1 40 Comfortable Price 5 2 9 13 5 6 40 40 40 40 40 40 40 Rank Result in Percentage 1 2 3 4 5 6 Availability & Service 25 10 22.5 20 10 12.5 100 Good Quality 25 42.5 12.5 7.5 5 5 100 Product Mix 10 15 5 25 20 16.66667 100 Packaging Type 0 7.5 10 2.5 42.5 25 100 Patient Satisfaction 27.5 20 27.5 12.5 10 1.666667 100 Comfortable Price 12.5 5 22.5 32.5 12.5 10 100 100 100 100 100 100 100 0 5 10 15 20 1 2 3 4 5 6 Availability & Service Good Quality Product Mix Packaging Type Patient Satisfaction Comfortable Price
  • 76. Wellcare Lifescience Project report Oakbrook Business School Page 68 Interpretation This is the priority rank order for the medicinal system characteristics by the retailers and wholesalers . For retailers and wholesalers first thing fort take care is to satisfy the patients with the good quality with the heist ratting. All characteristics are most important but with the rank order product mix is not most important thing for retailer that Packaging type is rated at the last 6th position Average Rank order priority of Retailers and wholesaler is given bellow Rank 1 Good Quality 2 Patient Satisfaction 3 Availability & Service 3 Comfortable Price 5 Product Mix 6 Packaging Type 0 10 20 30 40 50 1 2 3 4 5 6 Availability & Service Good Quality Product Mix Packaging Type Patient Satisfaction Comfortable Price
  • 77. Wellcare Lifescience Project report Oakbrook Business School Page 69 7 Give your special suggestion for new pharmaceutical company? Some of the acceptable suggestions are given bellow that help to the new pharmaceutical company to set themselves in most successive way… 1 Pricing is the biggest issue for the all company so do pricing with respect to Patient as well as Retailer also. 2 Patient satisfaction is the most important thing so never compromise with the quality. 3 Make some product with specific characteristics that only your product has which lead you automatically in to the market. 4 Always be specific with your distribution channel and give the complete service. 5 Do not offer the schemes but give the comfortable price that all can afford. 6 Decrease our lead time with quick respond. 7 Attracting to the patient advertisement is require so do some advertisement. 8 Make packaging attractive and tough. 9 Printing of the strip price , content, MFG and EXP date in bigger font size that make easy to read.
  • 78. Wellcare Lifescience Project report Oakbrook Business School Page 70 9 Finding
  • 79. Wellcare Lifescience Project report Oakbrook Business School Page 71 Apart from the main topic ―SWOT analysis of new pharmaceutical company‖ the main thing is to increase the sales of the company from getting the outer environment of pharmaceutical market for new company. Wellcare Lifescience is a new company. They wants to expand their business so they need such kind of information that we found. From The survey I found several things that are given bellow FOR DOCTORS  55 % of doctors are ready to make a relationship with ne pharmaceutical company.  Doctors having 33% good and 45% average experience with new pharmaceutical company.  90% doctor likes prescribing.  With higher quality of product and product with greater patient satisfaction doctors prefer a new company over the well settle pharmaceutical company.  70% of doctors having perception that new pharmaceutical company has always issues with there quality and reliability.  Quality and commitment is the first thing that doctors wants to see with a new pharmaceutical company product.  Average rank order of priority characteristic of pharmaceutical company to doctor is Rank 1 Good Quality 2 Patient Satisfaction 3 Comfortable Price 4 Product Mix 5 Packaging Type 6 Availability & Service
  • 80. Wellcare Lifescience Project report Oakbrook Business School Page 72 FOR RETAILERS & WHOLESALERS  72.5% retailers and wholesalers are ready to make relation with new pharmaceutical company.  API Content is the first thing for the retailers and wholesalers to see when new pharmaceutical company product is in their hand.  With a competitive rate and service retailer and wholesalers would make them to prefer a new company over the well settle pharmaceutical company  52.5% Retailers and wholesalers are dissatisfy with there prices that companies are offering to him.  With 40% of all retailers and wholesaler are also dissatisfy with the availability & service.  With 70% of retailers having unison pharma company product stock is in bigger quantity.  Average Rank order priority of Retailers and wholesaler is given bellow Rank 1 Patient Satisfaction 2 Good Quality 3 Availability & Service 3 Comfortable Price 5 Packaging Type 6 Product Mix  Perceptions that we found from the survey are- Quality and Reliability issues are maximum with new pharmaceutical company.  Expectations that we found from survey are- Quality product with Competitive rate and better service are the expectation of there.
  • 81. Wellcare Lifescience Project report Oakbrook Business School Page 73 10 CONCLUSION
  • 82. Wellcare Lifescience Project report Oakbrook Business School Page 74 Every companies have there own strategies to make them self different from other. Final goal of every company is to earn maximum profit out of there investment, here with this survey I got several things are generated from which help company to make strategies and get something out of it. With better quality competitive rate and advance service new pharmaceutical company can set themselves in market with great response. In Vadodara there is good enough market for new pharmaceutical company to their business. From the research of primary and secondary data that we collected “SWOT analysis of new pharmaceutical company”
  • 83. Wellcare Lifescience Project report Oakbrook Business School Page 75 Wellcare Lifescience Company SWOT analysis from the research
  • 84. Wellcare Lifescience Project report Oakbrook Business School Page 76 12 SUGGESTIONS AND RECOMMENDATIONS
  • 85. Wellcare Lifescience Project report Oakbrook Business School Page 77 From the survey I knew some important things that improve company sales and value which are the biggest asset of the company. All organizations believe in more profit and it must be ethical and social way of business, so proper suggestions opinions and recommendations are require. For increasing the sales and expanding the business every one‘s support is require for that several things which help to improve the business are given bellow –  Pricing is the biggest issue in pharmaceutical industries so according to the patient overall conditions or with respect to the overall country economic status of people M.R,P Should be there on the products. Which help to improve the value of the company and it make affordable price to the patient so increase sales also.  With the innovative drug formulations and combinations which help the doctors and retailers to dispense and that make patient happy.  Pharmaceutical sector is on the human‘s life so as per demand and shortage it must be available in the market so new company should work on there availability and on reliability that makes positive marks towards the new company.  Storage and handling is also one of the biggest issue for the users so the packaging must be tough and attractive to the patient as well as for doctors and retailers also.  As per the retailers recommendation they want the bigger font size print on the strip and on the label. That makes comfortable visualize print.  For increasing sale company should tray with arraigning free camp for patient with doctors. Means doing promotions for the company products.  Now a days user are attracting more towards the advertisement promotions and internet or online help center so company can go with this kind of tools that increase user‘s awareness towards the company.
  • 86. Wellcare Lifescience Project report Oakbrook Business School Page 78 12 Bibliography And Reference
  • 87. Wellcare Lifescience Project report Oakbrook Business School Page 79 Books Naval Bajpai, (2012). 1st Edition. Research Methodology, Dorling Kindersley (India) Pvt. Ltd. Philip Kotler (2014). 15th Edition. Marketing Management, Dorling Kindersley (India) Pvt. Ltd. Ken Black(2009). 5th Edition. Business Statistics, Wiley India Pvt. Ltd.(India) . (Calculation of hypothesis) Reference Kyoung Kim Yee, Lee Keun, Park Walter G and Choo Kineung found thatappropriate intellectual property protection and economic growth in countries at different levels of development, According to Schuiling and Moss (2004), 2013 Society of Interdisciplinary Business Research E. Osinga from Tilburg Universityin in 2010 measure Influences of pharmaceutical marketing on the prescribing behavior of physicians in the United States and in the Netherlands Aikin, K. J., Swasy, J. L., & Braman, A. C. (2004). Patient and physician attitudes and behaviors associated with DTC promotion of prescription drugs. Aditya Bhattacharjea and Fiyanshu Sindhwani. (2014) research on“Competition Issues in the Indian Pharmaceuticals Sector “ Sanjiwani Jayant Kumar KJ Somaiya Studies and Research on Product and Brand Positioning Typologies with Respect to Pharmaceutical Companies in 2013 D. K. Nauriyal and Dukhabandhu Sahoo (2015 ) research on The New IPR Regime and Indian Drug and Pharmaceutical Industry: An Empirical Analysis. JSB Intelligence UK in 2005 studied on Strategic Analysis of the Pharma Market, Future Revenue Models and Key Players ― Li Ying in 2013 don Analysis of Marketing Strategy Plan of Pharmaceutical Company Kapil Kumar DR. M. K. Kulshreshitha in 2013 don reearchon SWOT analysis of Indian Pharmaceutical Industries.
  • 88. Wellcare Lifescience Project report Oakbrook Business School Page 80 JOURNAL TITLES: Pharmacy management Pharmacy Times Pharmacy Today Websites http://www.wellcareworld.com/wp/ http://www.drugs.com http://www.ibef.org/industry/pharmaceutical-india/showcase http://www.forbes.com/sites/liyanchen/2015/06/04/2015-global-2000-the-worlds-largest- drug-and-biotech-companies/ http://www.newagepublishers.com/samplechapter/000896.pdf http://www.ihmgwalior.net/pdf/research_methodology.pdf http://www.medicinenet,com http://apps.who.int/iris/bitstream/10665/93142/1/EML_18_eng.pdf?ua=1
  • 89. Wellcare Lifescience Project report Oakbrook Business School Page 81 13 Annexure Questionnaire for Doctors and Retailer & Wholesalers
  • 90. Wellcare Lifescience Project report Oakbrook Business School Page 82 SWOT Analysis of New Pharmaceutical Company Questionnaire for Doctor 1 Do you prefer to use (Prescribe or dispense) a new pharmaceutical company products? Yes ⃝ No ⃝ 2 If you have any experience with new pharmaceutical products, then how was it? Excellent ⃝ Very Good ⃝ Good ⃝ Average ⃝ Bad ⃝ Very Bad ⃝ Poor ⃝ 3 What do you like most? Prescribing ⃝ Dispensing ⃝ 4 What would make you prescribe a new Company over the well settle company for pharmaceutical products? Economic to doctor Economic to patient Higher Quality Better service Other: - ______________________ 5 What is your perception towards new pharmaceutical company? Quality Issues Service Issues Reliability Issues Availability Issues Price Issues 6 Which is the first thing you see in a product with a new Pharmaceutical company? Quality & Commitment ⃝ Price ⃝ Service & Regularity ⃝ Packaging ⃝ 7 As per the point of view rank the new company features. (1-6) Availability & Service Product Mix Patient satisfaction Good Quality Packaging Type Comfortable price 8 Give your special suggestion for new pharmaceutical company? _________________________________________________________________________________ _________________________________________________________________________________ _________________________________________________________________________________
  • 91. Wellcare Lifescience Project report Oakbrook Business School Page 83 PERSONAL DETAILS NAME : _________________________________________________________________ Occupation : ____________________ since _______ Would you like to make relation with “WELLCARE LIFESCIENCE”? Yes ⃝ No ⃝ Contact No. :____________________ E Mail:__________________________________ Thank you for your Precious time!!!
  • 92. Wellcare Lifescience Project report Oakbrook Business School Page 84 SWOT Analysis of New Pharmaceutical Company Questionnaire for Wholesaler & retailer 1 Would you like to try working with a new pharmaceutical Company? Yes ⃝ No ⃝ 2 Which is the first thing you see in a product with a new pharmaceutical company? API Content ⃝ Price ⃝ Availability ⃝ Therapeutic use ⃝ Packaging ⃝ 3 What would make you prefer a new Company over the well settle company for pharmaceutical products? Competitive rates Packaging type Higher Quality Availability & Service 4 What dissatisfy you with current Pharmaceutical company products? Price Availability & Service Packaging Type Quality 5 Which companies Pharmaceutical Products you store in bigger quantity? Exemed pharma Elysium Unicure Manish Pharma Briyosis sarabhai Pharmaceutical Other: - _______________ 6 As per the point of view rank the new company features. (1-6) Availability & Service Product Mix Patient satisfaction Good Quality Packaging Type Comfortable price 7 Give your special suggestion for new pharmaceutical company? _________________________________________________________________________________ _________________________________________________________________________________ _________________________________________________________________________________
  • 93. Wellcare Lifescience Project report Oakbrook Business School Page 85 PERSONAL DETAILS NAME :_________________________________________________________________ Occupation :____________________ Since _______ Would you like to make relation with “WELLCARE LIFESCIENCE”? Yes ⃝ No ⃝ Contact No. :____________________ E Mail:__________________________________ Thank you for your Precious time!!!
  • 94. Wellcare Lifescience Project report Oakbrook Business School Page 86 Wellcare Lifescience Product Detail Carecef – 200 Category – Antibiotic API Contebt Cafixime dispersible Therapeutic use Used to treat a wide variety of bacterial infections. This medication is known as a cephalosporin antibiotic. It works by stopping the growth of bacteria. This antibiotic treats only bacterial infections Cefixime treats infections of the: Ear: Otitis caused by Haemophilus influenza, Moraxella catarrhalis and Streptococcus pyogenes. Sinuses: Sinusitis. Throat: Tonsillitis, pharyngitis caused by Streptococcus progenies. Chest and lungs: Bronchitis, pneumonia caused by Streptococcus pneumonia and Haemophilus influenza It is also used to treat typhoid fever
  • 95. Wellcare Lifescience Project report Oakbrook Business School Page 87 HOW TO USE Take this medication by mouth with or without food as directed by your doctor, usually once a day. In children, this medication may also be taken twice a day (every 12 hours) It is on the World Health Organization's List of Essential Medicines, a list of the most important medication needed in a basic health system. Acepar – SP Category - NSAID API Content Aceclofenac, paracetomol and serratiopeptidase Therapeutical Use Aceclofenac It is used for the relief of pain and inflammation in rheumatoid arthritis, osteoarthritis and ankylosing spondylitis Paracetamol This drug is used to treat mild to moderate pain (from headaches, menstrual periods, toothaches, backaches, osteoarthritis, or cold/flu aches and pains) and to reduce fever Serratiopeptidase
  • 96. Wellcare Lifescience Project report Oakbrook Business School Page 88 It is proteolytic enzyme that has potent anti-inflammatory property HOW TO USE Oral tablet as directed by doctor. Ondi- MD4 Category- Serotonin 5-HT3receptor antagonist API Content Ondansetron Therapeutic Use Used to treat and prevent chemotherapy-induced nausea and vomiting and radiotherapy- induced nausea and vomiting. Used off-label to treat morning sickness and hyperemesis gravidarum of pregnancy. It is typically used after trials of other drugs have failed. Antiemetic agents used during the vomiting phase of cyclic vomiting syndrome. Used to reduce vomiting associated with gastroenteritis and dehydration.
  • 97. Wellcare Lifescience Project report Oakbrook Business School Page 89 How to Use To prevent nausea from chemotherapy, take this medication by mouth usually within 30 minutes before treatment begins. ACIARE-DSR CATEGORY- Anti Ulcer API Content Rabeprazole Sodium Domperidone Therapeutic Use Short-term treatment in healing and symptomatic relief of duodenal ulcers and erosive or ulcerative GERD; Maintaining healing and reducing relapse rates of heartburn symptoms in patients with erosive or ulcerative GERD; treatment of daytime and nighttime heartburn and other symptoms associated with GERD; Long-term treatment of pathological hypersecretory conditions, including Zollinger-Ellison syndrome; in combination with amoxicillin and clarithromycin to eradicate Helicobacter pylori in patients with H. pylori infection and duodenal ulcer disease. How to use
  • 98. Wellcare Lifescience Project report Oakbrook Business School Page 90 Oral Doses form take as directed by doctors. ACENEC-P Category - NSAID API Content Aceclofenac Paracetamol Therapeutic Use It is used for the relief of pain and inflammation in rheumatoid arthritis, osteoarthritis and ankylosing spondylitis. ( It should not be given to people with porphyria or breast-feeding mothers, and is not recommended for children.) How to use This is oral doses form. Use as directed by the doctor.
  • 99. Wellcare Lifescience Project report Oakbrook Business School Page 91 WellVita Category – Multivitamin Composition Vitamin A, Vitamin C Carbohydrates, Fat, Diary Fibers, Zinc, Folic Acid, Sucrose, Iodine, Sucrose, Protein, Colecalciferol, Thiamine Hydrochloride, Riboflavin Sodium Phosphate, Niacin amide, Cynocobalamine, D Pentanol, Manganess, Molybdenum, Selenium, L Lysine Use Used in treating or preventing low levels of vitamins and minerals in the body. It may also be used for other conditions as determined by your doctor. Multivitamin drops are a vitamin and mineral supplement. It works by providing extra vitamins and minerals to the body when you do not get enough from your diet. How to Use Syrup is for pediatric use only, as per the doctors suggestion accurate drops are administered orally to the child.
  • 100. Wellcare Lifescience Project report Oakbrook Business School Page 92 Besty Category Nutrient API Content D Fructose Choline Chloride And Carbohydrates, Sucrose, Dietary Fibers, Protein Therapeutic use Here all are the normal nutrients but special content of the product is combination of d fructose and choline chloride. Choline chloride is part of vita B .so for increasing the level of vita B this drops are being in use. How to use It is a pediatric oral drops. As directed by doctors.
  • 101. Wellcare Lifescience Project report Oakbrook Business School Page 93 Teniwell CV Category – Antibiotic API Content Amoxiciline Potassium Clavulanate Therapeutic Use Treatment of children with recurrent or persistent acute otitis media due to S. pneumoniae , Haemophilus influenzae , or Moraxella catarrhalis characterized by antibiotic exposure for acute otitis media within the preceding 3 months and who are either 2 yr of age or younger or attend day care. How to use Anti biotic oral suspension for only children. Dose as directed by doctor.