Glaxosmithkline's Marketing Strategy for Requip: A Case Study in Product Lifecycle Management |
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ExcerptsBackground NoteGSK was formed in 2000 by the merger of two research-based pharmaceutical companies - Glaxo Wellcome and SmithKline Beecham. Headquartered in Brentford, London, UK, the company has a rich history that dates back to the 18th century. There were four main companies in the history of GSK: Burroughs Wellcome & Company, Glaxo Laboratories, Beecham, and SmithKline & French. With this merger, GSK became the largest pharmaceutical company in the world. But as of 2007, it was the world's second largest pharmaceutical company after Pfizer, Inc. GSK had a diverse product portfolio covering anti-infectives, central nervous system (CNS), respiratory, gastro-intestinal/metabolic, oncology, and vaccines products...
Marketing Blitz follows FDA ApprovalOn May 5, 2005, the FDA approved Requip for the treatment of moderate to severe RLS. GSK said that it was the first treatment approved for RLS in the US. Prior to this, in June 2004, GSK had been successful in getting the drug approved for RLS in France. After gaining marketing approval for Requip for RLS in the US, GSK adopted a multi-million dollar, multi-pronged marketing strategy. In addition to personal selling to doctors through its sales force and advertisements in medical journals, GSK launched a DTC advertising blitz targeted at consumers...
Requip Sales Rides on Restless LegsRequip was launched for RLS in the US in the second quarter of 2005. In October 2006, the WSJ said that Requip was on track to post sales of US$500 million in 2006 and it was one of the fastest growing brands in GSK's product portfolio. By the first quarter of 2006, the number of weekly new prescriptions for Requip in the US was four times that at the time of launch. In 2005, the sales of Requip were £156 million, a growth of 34 percent over 2004. In 2006, the sales of Requip were £268 million, a growth of 74 percent over 2005...
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