Excerpt via Thesis:
S. $750, 000
FDA Market Subfilings of U. S. $225, 000
US $10 to $15 , 000, 000 in packaging, distribution and marketing (and the company was not clear concerning if they could afford this expense at this point in time)
Selling Miracare straight to consumers might result in cannibalization of the sales to labs and hospitals impacting the companies’ earnings, provided product perimeter differentials, as well as the company’s romantic relationship with its distributors, middlemen and customers, including labs and hospitals.
Thought must be given pertaining to the fact that OTC HIV testing acceptance would in order to open the door to OVER-THE-COUNTER sales of rapid tests for additional infectious illnesses (including influenza, strep can range f, STDs and drug screening) HIV speedy testing marketplace is small yet other speedy testing marketplaces are well worth potentially great.
IV. Acknowledgement of Chance
Because these products were very likely to crowd pharmacy shelves addressing ‘opportunity’ it absolutely was important that Medmira not make too late of the move and neither should Medmira approach too quickly.
Sixth is v. Competitors Identified
Competitors determined in the case examine include: (1) Orasure Technologies: while this company’s product was excellent in a sense and this company did not possess the public’s confidence in the validity of its’ test results; (2) bioLytical Laboratories: This company had not been approved intended for OTC assessment of HIV and had not made enlargement internationally. Furthermore, this test out was a lot more complicated; and (3) Home Access Overall health Corporation: Situated in Chicago this business had previously developed OVER THE COUNTER HIV tests with a high rate of validity and public self-confidence had previously developed from this company.
DISCUSSION and SUMMARY
The scenario identified can be one in which the entire range of worldwide marketing things to consider must be carried out in performing an examination of this industry’s products and services and entry into the international industry and in this case specifically the United States OTC quick diagnostic assessment market. Regulatory issues aren’t a high top priority for thought for Medmira Laboratories only that FDA dangerous the OVER-THE-COUNTER market had resulted in a possibility being discovered by this firm. There are factors that have been deemed in this study which include the ethical debate, and the economic considerations of entry into the OTC marketplace in the U. S. Most likely while it will definitely cost the company a lot of money initially to invest in the U. T. OTC fast diagnostic assessment market that will Medmira Labs partner with House Access Health Corporation which it would likely do away with the FD market pre-approval costs as well as the FDA marketplace subfilings concerning the products as Home Well being Access had already been subject to this process with all the FDA. Even though the U. S i9000. OTC fast diagnostic tests market is little in actuality this could open the doorway to the potential billions in sales of other fast diagnostic testing including flu, strep can range f, STDS, and in many cases drug screenings. The most important account in this study has been that of how should Medmira enter the MARCH HIV assessment market in the U. H., and this function states conclusions that it is crystal clear that to the U. S. marketplace as spouse of Home Access Well being Corporation could be the optimal entrance strategy for Medmira Laboratories.
MedMira to Commercialize Groundbreaking New Diagnostic Technology Platform (2006) Immediate Release. On the web available at http://www.maplebio.com/prs/20051512_pm.pdf
Medmira Laboratories: The U. S. OTC Decision 9B06A024 (2006) Ivey Management Solutions. Richard Ivey School of Business. http://www.maplebio.com/prs/20051512_pm.pdf
Medmira Laboratories: International Promoting Analysis