Merck Research Laboratories And Pharmaceutical Companies Essay

This report is Part 1 of assignment for Marketing MBA 565-MBOL1 to Dr. Stephen Baglione

In our experience with Pharmasim we learned that Marketing decision making must be very sensitive and responsive to everything going on in the industry which is very complex. Consumer responses to marketing tactics can be volatile and unpredictable and no idea is guaranteed to work well. Marketing is a matter of meticulous research, assumptions, planning, and volatility at times. Overall we took away two major points: 1) that it is important to consider the product lifecycle in evaluating how to promote businesses and, 2) that the “Sweet Spot” as a competitive advantage should be the greatest point of consideration when evaluating how to best gain leverage to beat the competition in the minds of

As chairman of Merck & Co., I must discuss the unfortunate case of onchocerciasis, also known as river blindness. As a leading pharmaceutical company, we must make a difficult decision. Our company may hold a cure to a deadly parasitic disease that has caused hundreds of thousands of people to go blind and many more have become severely ill. This disease is caused by black flies which carry parasitic worms which then bite human hosts infecting them. This parasitic disease affects people in multiple developing countries. One of our drugs, Ivermectin, may hold the cure and future research. We must utilize our advancements in this proposed project for the greater good. Using the Eight Steps to Sound Ethical Decision Making, this will

The Pharmaceutical industry has been in the spotlight for decades due to the fact that they have a reputation for being unethical in its marketing strategies. In The Washington Post Shannon Brownlee (2008) states, “We try never to forget that medicine is for the people. It is not for the profits. The profits follow.” This honorable statement is completely lost in today’s world of pharmaceutical marketing tactics. These tactics are often deceptive and biased. Big Pharma consistently forgets their moral purpose and focuses primarily on the almighty dollar. Big Pharma is working on restoring their reputation by reforming their ethical code of conduct.

While some have identified Merck as a visionary company dedicated to a "core values and a sense of purpose beyond just making money" (Collins & Porras, 2002, p. 48), others point out corporate misdeeds perpetrated by Merck (e.g., its role in establishing a dubious medical journal that republished articles favorable to Merck products) as contradictory

Another issue is too much power is given to scientists in decision-making of candidate drugs. Also there were inadequacies and lack of communication between marketing and research. Merck’s marketing and research needed to realize that the making of the drug is not only the most important part in increasing sales, but it also included a strong advertising campaign that will satisfy the needs of the customers.

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Cambridge Sciences Pharmaceuticals (CSP) is an international healthcare company based in Cambridge, Massachusetts. The firm focuses on developing, manufacturing and marketing products that treat metabolic disorders, gastrointestinal diseases, immune deficiencies, as well as other chronic medical conditions. In 2008, CSP received its Food and Drug Administration (FDA) approval for its newest prescription drug, Metabical. Metabical is a drug that offers moderately overweight adults a medically proven, effective method to reach a desirable weight to improve their overall health by shedding ten to thirty pounds.

The pharmaceutical industry includes companies that research, develop, market or distribute generic and branded drugs. The industry expanded during the 1980’s and drugs to treat heart disease and AIDS were prominent. Consumer demand for nutritional supplements and alternative medicine increased during the 1990’s with the Internet facilitating direct purchases of drugs. Advertising for direct consumption of pharmaceutical drugs became more prominent; pharmaceutical companies were criticized for over medicating personality or social problems.

Utilitarianism is relevant to the Merck Co. case in that it would have been important for Merck to predict whether researching the drug further, or playing it safe with other research, would produce the greatest benefit for the largest number of people. One side would argue that while river blindness patients are poor, treatment would be of great benefit to those infected (and their families/communities), so research is warranted. On the other hand, one might argue that it would be of equal or greater benefit to research medications for more common diseases where patients can afford medication. They may also argue that if the company went out of business as a result of ivermectin research that more people would be harmed from the loss of Merck’s other research and medications.

Since its humble beginning as a small drugstore, Merck has placed a large amount of importance on improving the health and well-being of its customers. As drug patents expire and genetic forms of their top products become available, Merck’s strategy is to do the unexpected; instead of raising the price of their older products in favor of patent protected new drugs, Merck focuses on reducing their cost in order to better compete with their generic counterparts. Additionally, Merck’s plan for growth now encompasses a much more aggressive pursuit of new drugs in their pipeline through extensive research. Merck became the second largest health care company in the world after the merger with Schering-Plough in 2009 and has

Lorex Pharmaceuticals recently gained FDA approval to market and sell a new product called Linatol. This memo will address the need to select a target amount to which each 10-ounce bottle of Linatol will be filled. The analysis of several target fill rates was conducted to determine the one that maximizes the contribution per case, therefore generating the maximum revenue for Lorex Pharmaceuticals. This ideal fill rate will allow more bottles to be sold at the full retail price of $186 and limit the under filled

* Large Balance, $1.4B in goodwill on Merck’s Balance Sheet – the goodwill on Merck’s balance sheet is primarily attributable to past acquisitions.

Merck and Co., Inc. was, in 1978, one of the biggest makers of physician endorsed sedates on the planet. Headquartered in Rahway, New Jersey, Merck followed its starting points to Germany in 1668 when Friedrich Jacob Merck obtained a pharmacist in the city of Darmstadt. More than three hundred years after the fact, Merck, having turned into an American firm, utilized more than 28,000 individuals and had operations everywhere throughout the world.

Merck & Co is a large pharmaceutical company headquartered in New Jersey. While testing a ivermectin drug for animals in 1978, it was discovered the drug killed a parasite in a horse that was similar to the worm that causes river blindness in humans. River blindness is a decease found in developing countries that causes suffering in humans and can lead to blindness. (Trevino, 2014, p. 361) There are two drugs that are used to combat the river blindness but both have serious side effects. Researching the development of a new drug cost millions of dollars and can take up to 12 years. (Trevino, 2014, p. 361) Merck & Co must make a decision to pursue the development of the new drug. The organization must consider their