Actually this assignment talks about how to start up a company (how to commercialise you new product)
We have divided our project to 5 roles and I’m taking the marketing part
I have to write about:
1- Product/service Market analysis
1.1 product/ service description
1.2 Industry description and outlook this part 2 pages
1.3 Market Demand
2- Strategy Development
2.2 Capacity and capability
2.3 Strategy formulation this part 3-4 pages
2.4 Core competencies / SCA
2.5 Business Model
3- Marketing plan
3.2 pricing / Discount strategy
3.3 service Ps
3.4 Marketing reporting system this part 3 pages
3.5 Growth options
3.6 Marketing action and growth plan
4- The operating plan
4.1 list of major suppliers. This part 2 pages
4.2 The production/operating process (scope, location, personnel)
And this is our Project title
(Marine Sponge – Developing Marine Natural Products Library for Drug Discovery)
A marine biotechnology company has one anticancer marine natural product in clinical trial phase 1, and two marine natural products of significant in vitro anticancer activity being considered for pre-clinical study, as well as a marine natural products library for screening new drug leads. Specifically this company should focus on the marine natural products from marine sponges and sponge-associated bacteria from South Australian oceans.
Sponge (Porifera) is the evolutionary oldest multi-cellular animal, the true ?living fossil? that is widely distributed in both fresh and marine waters. Sponge has attracted great commercial attention as it contributes to nearly 40% of all marine natural products discovered by far. These sponge-derived marine natural products have demonstrated huge diversity of biological activities, including anticancer, antiviral, antibacterial, immuo-modulating, anti-inflammatory etc. A research group at Flinders University has been working in the discovery of anticancer marine natural products from marine sponges and sponge-associated bacteria from South Australian Ocean over the last 10 years. The group has discovered one anticancer compound currently in clinical trial phase 1, and two anticancer compounds being considered for pre-clinical study. You are asked to establish a marine biotechnology company to commercialize these research outcomes, as well as develop a marine natural products library for screening new drug leads to enter your product development pipelines.
The company can specify the real product names of one compound in clinical trial phase 1, and two compounds for preclinical study selected from the literature review. However you will need to develop your marine natural products library for new products in the pipeline based on sponges and sponge-associated bacteria from South Australian Ocean. The anticancer activities may be focused on breast cancer, colon cancer, prostate cancer and lung cancer.
As this is a start-up biotechnology company, you must be able to leverage the funding from BioInnovation SA, Federal government ?Commercialization Grant?, and even NHMRC.
Understanding the use of marine sponge-derived natural products as anticancer drugs, the current R&D and commercial development status, and their advantages and limitations
Understanding the clinical trial stages of marine drugs, and their respective regulations (TGA/FDA etc)
Basic understanding of production process and design of marine drugs
Understanding product competition (market entry) and risk management in selected anticancer drug markets
Understand how to sell a marine biotechnology start-up company to investors
Identify potential commercial partnership for new marine drug development
Basic understanding of drug product packaging and marketing
Basic understanding of how to budget / cost for a drug development company
Basic understanding IP management and patent processes
Understanding of how to commercialize South Australian marine biological diversity
This part is what my friend done in his part
1.1 OUR MISSION
To expand the research outcomes of anticancer drugs and to advance the worldwide industry of anticancer drugs discovery and development by developing a marine natural product library from potential marine sources, sponges and sponge-associated bacteria from South Australia. By then, we are providing high quality and effective drugs for oncology, giving an enthusiasm and respectful work environment for our employees and offering an excellent service for our customers.
1.2 OUR VISION & Value statements
To be recognized worldwide as the leading pharmaceutical company by improving the full range of drug discovery and development process. Until then it will do all that it can to contribute a high standard of medical treatment by offering better drug options for the cancer patients.
1. SITUATION ANALYSIS
2.1 INTERNAL/ EXTERNAL ANALYSIS
A. PESTLE ANALYSIS
ISSUES IMPACT ON BUSINESS
? Growing political focus and pressure on pharmaceutical especially on generic drug.
? Global governments and investors looking for saving on investment of researches.
? Harmonization of drug development around worldwide especially in US.
? Increase pressure on funding of future research.
? Reference funding, exposing investment across borders.
? Global economic crisis especially in Europe and US, yet still show the high spending on healthcare per capital.
? Reduction in Pharma Growth due to the reduction of new drugs being discovered and present as effective drug. ? Increase pressure for investors, researchers, drug developers and shareholders.
? More mergers and acquisitions will come to take over in the coming years.
? Need to introduce value adding process on new drugs and founding.
? Increasing of aging population.
? Patient awareness, changing to positive expectations, more demanding.
? Increase of public activism especially animal activism (animal testing in drug development).
? Offer a range of opportunities.
? Must have a well communication with consumer and society in without over stepping the regulatory boundries.
? Advanced technologies are always introduced.
? Customised treatments
? Enable advertise to patients directly. ? Create new business boundaries and market entry.
? Provide new therapy systems and better customer service.
? Increase of price transparent.
? Many regulators and legislative restrictions are constant progressing.
? Restrictions of medical advertising. ? Growth of litigation.
? Increase concern on product’s quality.
? Unable rationalize on product’s formula (different countries may require different formulas).
? Growth of society awareness, environmental and health agenda. ? Require to identify a link between of business and marketing plans with the environmental issues.
B. RESOURCE BASED VIEW
Sponges potential as it fulfilled at around 70% of marine world, while it being recognized as ?fossil? where have been survived since 200 million years ago.
Tangible Resources Intangible Resources
? Research performances on anticancer drugs (sponge and sponge-associated bacteria)
? Customer base (e.g cancer patients, doctors, health workers, distributors)
? Cash ? Anticancer drugs effectiveness i.e., amount of customer allegiance devoted to TNO.
? Service provider awareness to competition, i.e., this variable depicts how TNO customers are informed about TNO activities.
Table 1: Key Strategic Resources
C. BALANCED SCORECARD
VISION PERSPECTIVE STRATEGIC OBJECTIVE
To be recognized worldwide as the leading pharmaceutical company by improving the full range of drug discovery and development process which contributes to a higher standard of medical treatment by offering better drug options for the cancer patients.
Financial ? Estimation of:
c) Gross Margin:
? Cost Savings:
a) Labour (Hire experienced employee and give training)
b) Operation (as the production cost reduced while sale increased).
Customer / Market ? Increase the participation in the hospital and pharmacies tender business.
? Develop the existing brand products to generic products.
? Form and maintain the partnership with university, research center, hospitals and pharmacies.
? Assure the product safety and quality.
Internal Processes ? Operate as a distributor for other international pharmaceutical companies.
? Create, develop and update products list
? Identify target and future partners.
? Search for acquisition opportunities.
? Assure a better sales force.
? Assure employee in high performance.
Learning and Growth ? Development of management and commercial skills.
? Increase of research skills.
? Improvement of drug development, production and IT skills.
? Improvement of product sourcing skills.
? Establish new brand values of every product within our organization.
? Review of product life cycle.
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