“SWOT ANALYSIS OF� NEW PHARMACEUTICAL COMPANY”�

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 full feel all require expectation of both.

1. SUBMITTED BY DHARMIK BHATT 148320592002 A SUMMER PROJECT PRESENTATION ON “SWOT ANALYSIS OF NEW PHARMACEUTICAL COMPANY” SUBMITTED TO (Oakbrook Business School) GUJARAT TECHNOLOGICAL UNIVERSITY (MBA PROGRAMME)

2. Content Overview of Pharmaceutical Industries Overview WellCare LifeScience Literature Review Problem Statement Research Topic SWOT Analysis of New Pharmaceutical Company Research Objective Research Methodology Data Analysis And Interpretation (Doctors Data Analysis And Interpretation ( R&W) Finding Conclusion Suggestion and Recommendation Bibliography and Reference 2

3. Overview of Pharmaceutical Industries In ancient India the sources of drugs were of vegetable, animal and mineral origin. With standard process allopathic drug are extract out from that natural source. Allopathic medicines become a popular in India by close of 19 th century. Initially two pharmaceutical companies were established in India . 1901 Bengal Chemical and Pharmaceutical, at Calcutta by Acharya Prafulla Chandra Ray. 1903 Alembic Chemical, at Vadodara by Prof. T.K. Gujjar. Pharmaceutical industries work with a standard book which called as Pharmacopeia And I.C.M.R Each Pharmaceutical country have there own pharmacopeia . Pharmaceutical industries work under the basic two acts Drug & Cosmetic Act 1945 And Pharmacy act 1948. 3

4. Pharmaceutical Market Condition In INDIA Revenue of Indian pharmaceutical industry Revenue share of Indian Pharmaceutical Sub segments Export data of Indian pharma industry Indian pharmaceutical market segments by value Top 3 Pharmaceutical Company of the world Johnson & Johnson Novartis Pfizer Inc Top 3 Pharmaceutical Company of the INDIA Cipla Dr. Reddy Ranbaxy 4

5. Overview WellCare LifeScience WellCare LifeScience is small scale partnership type of company. Company was founded by Mr. Hardik Thakkar. He having knowledge of pharmacy field as well as management He started WellCare LifeSceince in May 2014 with five type of different pharmaceutical product. After few months Miss Geeta Ganatra also join as partner. At the same time ex MD of Krushi Bank of Gujarat Mr. Harish Ganatra also join as advisory director. In Feb 2015 with the help of Mr.shyam Ganatra they start exporting. Company having turnover is Rs. 6000000 in 2014-15 with 12 products now they have 15 products. Mr. Thakkar’s key point of business is- earn profit via reducing distributing channel. They supply there product to Retailers and doctors not to distributor. Most preferable is to sale direct to the doctors. 5

6. Continue… Wellcare Lifescience company doing “Job Work Out” kind of business where they receive the order from the market and sale it with own name after getting the product from manufacturer.. Wellcare Lifescience have 15 products with different type like- NSAID Antibiotic, Antacid, Anti ulcer, Anti Malaria. Serotonin 5-HT, Multi vitamin. Nutrients. 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) Manufacturers 6

7. Literature Review Name of Researcher (Year) Topic Conlcusion D.K.Naurial (2 015) The New IPR Regime and Indian Drug and Pharmaceutical Industry R&D expenditure of the firm is less effective than the advertisement and marketing expenditure Aditya Bhattacharjea and Fiyanshu Sindhwani . (2014) Competition Issues in the Indian Pharmaceuticals Sector Pricing is the biggest issue that they found they saw every company having different price with same content. Kapil Kumar & DR. M. K. Kulshreshitha (2014) SWOT analysis of Indian Pharmaceutical Industries. Indian market is growing market Sanjiwani Jayant Kumar (2013) Product and Brand Positioning Typologies with Respect to Pharmaceutical Companies More competent company generates more trust in physicians mind. Trust in the company is reflected through financial performance of the company. E. Osinga (2010) Influences of pharmaceutical marketing on the prescribing behavior of physicians A difference is that in the United States the power of the pharmacists is more heavily regulated 7

8. Problem Statement 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. Retailers never wish to store new pharmaceutical company products because customers and doctor having less trust on the new company New Company having no previous experience so no one wants to take risk for the medicinal therapy Everyone have wrong perceptions about new companies have problem with their reliability service quality etc Because of giant competition and numbers of companies are available so customers have more choices. 8

9. Research Topic SWOT Analysis of New Pharmaceutical Company 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 SWOT means what? S = Strengths(Internal factor / Positive influence) What are we best at? W = Weaknesses (Internal factor / Negative influence) What are we worst at doing? O = Opportunities (External factor / Positive influence) What changes in the external environment can we exploit? T = Threats (External factors / Negative influence) What might our competitors be able to do to hurt us? 9

10. Research Objective 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 full feel all require expectation of both. 10

11. Research Methodology Research Design “Our research is on pharmaceutical industries that how new company can expand business in tough competition which are the harmful and helpful things” “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”. “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 Research “. “Here in my research I have to know perceptions and expectation it means I have to know the attitude of doctors and retailers so my research with questionnaire is of structured Research ”. 11

12. Continue… Designing the sample 1 The Sample- Doctors and Retailers & wholesalers 2 Sample Size - Total 100 Sample Doctors – 60 Retailers & Wholesalers – 40 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”. 12

13. Continue…. Method of Data collection Here for the research I used primary and secondary both data collection Methods for Primary Data Collection I use Survey method for my research . - For my research I prepare one questionnaire as per my research objective so my survey is “structured survey”. - I used both type of research question in my questionnaire in structured survey. Like open ended and close ended Secondary data are collected from books, from official websites, literatures etc Contact method I used Personal Interview for my questionnaire 13

14. 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. 14

15. 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. 15

16. Data Analysis And Interpretation (Doctors) Result % Percentage Yes 33 55 No 27 45 1 Do you prefer to use (Prescribe or dispense) a new pharmaceutical company products? 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. 16

17. Continue… 2 If you have any experience with new pharmaceutical products, then how was it? 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. Result % Percentage Excellent Very Good 3 5 Good 20 33 Average 27 45 Bad 7 12 Very Bad 3 5 Poor 60 100 17

18. 3 What do you like most? 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. Result % Percentage Prescribing 54 90 Dispensing 6 10 Continue… 18

19. 4 What would make you prescribe a new Company over the well settle company for pharmaceutical products? 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. Result % Percentage Economic to Doctor 7 12 Economic to Patient 51 85 Higher Quality 36 60 Better Service 21 35 Other 2 3 Continue… 19

20. 5 What is your perception towards new pharmaceutical company? . 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. Result % Percentage Quality Issue 42 70 Service Issue 30 50 Reliability Issue 42 70 Availability Issue 31 51.67 Price Issue 14 23.33 All 8 13.33 Continue… 20

21. 6 Which is the first thing you see in a product with a new Pharmaceutical company? 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. % Percentage Result Quality & Commitment 52 31 Service & Regularity 12 7 Price 32 19 Packaging 5 3 100 60 Continue… 21

22. 7 As per your point of view rank the new company features. (1-6) 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 2 2 6 25 25 60 Patient Satisfaction 16 18 16 8 2 60 Comfortable Price 3 10 14 15 4 14 60 60 60 60 60 60 60 Continue… 22

23. Overall Average rank order calculation 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 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 Rank Assume priority value 1 0.4 2 0.3 3 0.15 4 0.1 5 0.05 6 Rank Value % Value 1 Good Quality 16.4 27 2 Patient Satisfaction 15.1 25 3 Availability & Service 11.65 20 4 Comfortable Price 8 13 5 Product Mix 6.1 10 6 Packaging Type 2.75 5 60 100 Continue… 23

24. 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… Quality work is under the GMP and ISO but regularity and service is depends on company itself. Focus on Service. R&D work push company growth more quickly. Existing are there but do something innovative. Do complete market analysis and implement your strategy according to the most ethical way. Do qualitative work and get the all certification of that and maintain it for a long time. Do the ethical work and get profit out of it. Do not produce same molecule products, make some combinatory molecule that help to patient and doctor both. Packaging is most important thing, show creativity in packaging. Continue… 24

25. Data Analysis And Interpretation ( R&W) 1 Would you like to try working with a new pharmaceutical Company 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. Answer % Percentage Yes 29 72.5 No 11 27.5 40 100 25

26. 2 Which is the first thing you see in a product with a new pharmaceutical company? 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. Result % Percentage API Content 12 30 Price 10 25 Availability 8 20 Therapeutic Use 7 17.5 Packaging 3 7.5 40 100 Continue… 26

27. 3 What would make you prefer a new Company over the well settle company for pharmaceutical products? 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 Result Competitive Rates 52.25 19 Packaging Type 22 8 Higher Quality 35.75 13 Availability & Service 57.75 21 Continue… 27

28. 4 What dissatisfy you with current Pharmaceutical company products? 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. % Percentage Result Price 52.5 21 Packaging type 10 4 Availability & Service 40 16 Quality 20 8 Continue… 28

29. 5 Which companies Pharmaceutical Products you store in bigger quantity? Interpretation The biggest market is of Unison pharmaceutical company. So it indicate that new company has to make strategy with center of unison company as target. So from the graph the biggest threat maker is unison pharmaceutical for new company in Vadodara. 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 Continue… 29

30. 6 As per the point of view rank the new company features. (1-6) 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 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 Continue… 30

31. Overall average rank order Calculation Interpretation From the data it shows that in the medical system the first thing is to satisfy patient with good quality and the last thing but important thing is packaging type as per the retailers & wholesalers point of view. So we can say that with quality product new company will get the good response. Rank 1 Good Quality 2 Patient Satisfaction 3 Availability & Service 3 Comfortable Price 5 Product Mix 6 Packaging Type Rank Assume priority value 1 0.4 2 0.3 3 0.15 4 0.1 5 0.05 6 Rank value % Value 1 Good Quality 10.25 26 2 Patient Satisfaction 9.15 23 3 Availability & Service 7.55 19 4 Comfortable Price 5.5 14 5 Product Mix 5.1 12 6 Packaging Type 2.45 6 Continue… 31

32. 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… Pricing is the biggest issue for the all company so do pricing with respect to Patient as well as Retailer also. Patient satisfaction is the most important thing so never compromise with the quality. Make some product with specific characteristics that only your product has which lead you automatically in to the market. Always be specific with your distribution channel and give the complete service. Do not offer the schemes but give the comfortable price that all can afford. Decrease our lead time with quick respond. Attracting to the patient advertisement is require so do some advertisement. Make packaging attractive and tough. Printing of the strip price , content, MFG and EXP date in bigger font size that make easy to read. Continue… 32

33. 1 Finding Form 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. In medical system the most important thing is Patient satisfaction and quality product as per the doctors point of view. 33

34. From Wholesalers & retailers 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. In Medical system the most important thing is Product qulaity and patient satisfaction as per the retailers and wholesalers point of view Continue… 34

35. Conclusion 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. 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. 35

36. SWOT Analysis New Pharmaceutical Company 36

37. SWOT Analysis of New Company Wellcare Lifescience 37

38. Suggestion and Recommendation 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 – 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. 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. 38

39. Bibliography and Reference 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 “ 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/ 67 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 39

40. Thank You 40