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\nIn this Assessment, you will use information from the case scenario below, along with the supporting documents provided, to demonstrate your ability to apply economic concepts to make recommendations for organizational decisions.
\nCase Scenario: Launching a Cancer Drug: Comanapracil
\nYou are a pharmaceutical executive. You believe that your firm, Ropache, may have developed a promising new drug, Comanapracil, which seems to arrest the progress of breast cancer for 2 years with no significant side effects. Clinical trials suggest that the drug is 100% effective for 2 years. After 2 years, tumor growth resumes at the same rate. Therefore, Comanapracil can only be used for a 2-year course, after which it loses its effectiveness.
\nProfessional Skills: Written Communication, Technology, and\u00a0Critical Thinking and Problem Solving are\u00a0assessed in this Competency
\nYour response to this Assessment should:
\nUse the Assessment documents and video as required.
\nReflect the criteria provided in the Rubric.
\nAdhere to the required assignment length.
\nUse the APA course template.
\nDownload the Writing Checklist to review prior to submitting your Assessment.
\nThis Assessment requires submission of two (2) files. Save your files as follows:
\nSave Part I as\u00a0FM005_PartI_firstinitial_lastname\u00a0(for example, FM005_PartI_J_Smith).
\nSave Part II as\u00a0FM005_PartII_firstinitial_lastname (for example, FM005_PartII_J_Smith).
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\nInstructions
\nBefore submitting your Assessment, carefully review the rubric. This is the same rubric the assessor will use to evaluate your submission and it provides detailed criteria describing how to achieve or master the Competency. Many students find that understanding the requirements of the Assessment and the rubric criteria help them direct their focus and use their time most productively.
\nRubric
\nAccess the following to complete this Assessment:
\nThis assessment has two-parts. \u00a0Click each of the items below to complete this assessment.
\nPart I: Determine Pricing and Marketing Strategy for a New Drug
\nYou have been tasked with developing a pricing and marketing strategy for Comanapracil. As you undertake this task, refer to the following resources mentioned above:
\nU.S. Breast Cancer Statistics
\nAnnual Costs of Cancer Care\u2014Cancer Prevalence and Cost of Care Projections
\nChemo Costs in U.S. Driven Higher by Shift to Hospital Outpatient Facilities
\nBreast Cancer Drug\u2014Comparison Chart
\nCreate a 10- to 15-slide presentation, for the board of directors, to convince them that Comanapracil is a good investment. The presentation should address the following economic issues related to the marketing of Comanapracil:
\nDevelop and present estimates for the demand for Comanapracil and the price of the drug you think the market will bear. Be sure to include the number of customers for this drug.
\nDescribe where and to whom you will focus your marketing efforts. For each, detail why they are important.
\nExplain how you will ensure that insurance companies pay for your drug.
\nExplain the elasticity of demand for a drug like Comanapracil. What factors could potentially change the elasticity of demand?
\nAssume you are able to obtain a patent, and are ready to go to market immediately. Explain the length of time for which your drug will receive patent protection, so that you are protected from competition prior to generics entering the market. Also, explain why patent protection exists in healthcare.
\nPart II: Compare International Healthcare Systems to Develop an International Market Entry Strategy
\nIt is your job to develop a market analysis for four different healthcare markets with unique insurance systems. These four analyses will be contained within one 10- to 11-slide presentation to the board of directors. Your analysis will serve as a basis for deciding which country to market Comanapracil:
\nGermany
\nUnited States
\nGhana
\nBrazil
\nCreate your presentation as follows:
\nThe first slide will be an analysis of the relationship between spending on healthcare per capita and life expectancy in each country. Begin by referring to the World Bank charts \u201cGDP Per Capita,\u201d \u201cHealth Expenditures Per Capita,\u201d and \u201cLife Expectancy at Birth, Total (Years).\u201d Using these, create a chart comparing the spending on healthcare per capita with the life expectancy in each country. Underneath the chart, on the same slide, address the question: Is there a relationship between life expectancy and healthcare spending?
\nNext, based on what you have learned about the healthcare systems of Germany, the United States, Ghana, and Brazil, create four slides (one for each country) that summarize how each healthcare system is structured.
\nNext, create another four slides (again one for each country). Each of these slides should summarize your findings from conducting a SWOT analysis for each country (that is, identify the economic strengths, weaknesses, opportunities and threats) associated with marketing Comanapracil in each country.
\nCreate one to two slides recommending which two countries are most attractive for marketing Comanapracil and why.
\nYour board has shown a particular interest in the German market. In order to market your drug in Germany successfully, you must be approved by the German Institute for Quality and Efficiency in Health Care (IQWIG). Create two to three slides, addressed to the IQWIG, which argue for the importance of why your drug should be covered. Address the following issues:
\nHow much of a gain in health outcomes will this drug provide?
\nDo other drugs provide similar effectiveness in treating this disease?
\nHow many people will benefit from this drug? Explain why some people will benefit from the drug more than others.<\/p>\n","protected":false},"excerpt":{"rendered":"
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