Innovation in the Insulin´S Industry

1 INNOVATION IN THE INSULIN´S INDUSTRY MARTIN MEISTER INNOVATION IN THE INSULIN´S INDUSTRY THE ELI LILLY AND PFIZER EXAMPLES Martin Meister Boston University MET AD 741 May, 2012 2 INNOVATION IN THE INSULIN´S INDUSTRY MARTIN MEISTER Introduction The focus of the present paper is to understand why the pharmaceutical companies Eli Lilly and Pfizer failed in the introduction of what was vatic to be priced premium innovative products like the 100% nice synthetic insulin Humulin or the inhalable insulin Exubera and make the correspondent recommendations for the future day develop of the firms. Analysis To gain an understanding and find many possible explanations, we will analyze the situation from different points a view. Be big and arrogant Big companies have spacious advantages like economies of scale, well managed infrastructure, brand equity and substantial mart share, but some only try to defend their commercialize share, focusing only on processes and product creation alternatively of listening to customers (Christensen, 1999). For example, Eli Lilly had almost the 80% of the US insulin market and did not want to introduce new products like the insulin pens because potential cannibalization´s risks (Christensen, 2004).

By the other hand, the managers of Pfizer thought they had a product that was spillage to revolutionize the market. But, after their failure, they blamed the drug´s launching, the selling campaign and the sales strategy. For them the product was excellent (Simons, 2007), that is, the problem was outback(a) the company. 3 INNOVATION IN THE INSULIN´S INDUSTRY MARTIN MEISTER Did not listen to customers´ pain Eli Lilly and Pfizer invested millions of dollars generating innovative products related with insulin, like Humulin that was supposititious to be the supreme breakthrough in insulin product (Christensen, 2004) or Pfizer with their Exubera, the next big thing in drugs (Weintraub, 2007). Both of them failed, and wiz of the most... If you want to get a full essay, order it on our website: Orderessay

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