The marketing approach to determining the main indicators of economic efficiency of a hepatotropic drug

Authors

DOI:

https://doi.org/10.24959/sphhcj.18.123

Keywords:

cost-effectiveness of the project, comprehensive marketing research, development of a new drug, hepatotropic drugs, expansion of the assortment, availability of drugs

Abstract

Aim. To substantiate the expediency of development of an arginine-based hepatotropic drug using prognostic determination of the main indicators of economic efficiency.

Materials and methods. The legislative and regulatory base, data of the Morion information and retrieval system for 2013-2017, special literature and the results of the authors’ previous studies were used. The cost and rentability (R) of the drug manufacture, the amount of cash flows in three main variants of the project development, the discounted pay-back period (DPB) and the return on investment (ROI) were calculated. The historical, logical, marketing, and mathematical-statistical methods of research were used.

Results. Development of new drugs requires large amounts of money (from tens or hundreds of millions to 1-3 billion USD) for a significant period of time (from 3-4 to 10-14 years). The availability of the population to a drug increases in conditions of its sufficient production and prices acceptable to consumers. This is ensured by the presence of several manufacturers of a similar drug at the market. Arginine-based drugs have been found to have a wide range of pharmacological effects, forming a large potential volume of the market segment of the drug. The basic indicators of the economic efficiency of development of the arginine-based drug and marketing indicators of the market characteristics of the drug have been determined. Cash flows of income have been analyzed; and the terms of the return of discounted investments into the project in three variants of development of market events have been determined. The results of calculations on the basis of the marketing approach to the comprehensive market analysis of the characteristics of the arginine-based drug have confirmed the economic efficiency and investment attractiveness of the project.

Conclusions. The research on determining of the main indicators of the project economic efficiency has shown the feasibility of developing and introducing the arginine-based drug into the production assortment, as well as investment attractiveness of the project.

 

Author Biographies

V. V. Malyi, National University of Pharmacy

Doctor of Pharmacy (Dr. habil.), professor, head of the Pharmaceutical Marketing and Management Department

Moussa Medhat, National University of Pharmacy

Master of Pharmacy, postgraduate student of the Pharmaceutical Marketing and Management Department

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Published

2018-09-10

Issue

Section

Social marketing and pharmacoeconomic research