RiteMed Metformin Group Marketing Plan

10 Step Marketing Plan for RiteMed Metformin HCl08 January 2011

Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. TanMikhail G. Tenazas * Maria Ellaine Grace K. Uy

Five StepsPart I of II: PTM and Positioning

1. Target Market: Diabetes Type 2 Patients2. NWE: Optimal Glycemic Control3. Choice: Branded and/or

Generic Medications4. Gap: Low-Cost High-Quality Drugs5. Market Size: PhP2.3 Billion (Total)

PhP1.5 Billion Niche

10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy

Five StepsPart II of II: Marketing Mix & Strategy

6. Product: Metformin HCl from RiteMed7. Price: 20-80% less of Branded Price8. Promotion: Redesigning RiteMed Logo

Branding the ProductMaximize Price Leadership

9. Place: Unilab Network, Nationwide10. Strategy: Branded Generics

(Low Cost & High Quality)

Part 1: Step 1 of 5Positioning to the Primary Target Market

Primary Target Market

Type II Diabetes Patients

Demographics:

> 40 years old

M > F *

Social Class C to E

Overweight *

Lifestyle:

Minimal Physical Exercise

High Consumption of Processed Foods

High Sugar Diet

Health-Seeking Behavior

Consumption Behavior:

500 mg Tablet

Two Tablets per Day

Regular Hospital Monitoring

Multiple Medications

Lifestyle Changes

Part 1: Step 2 of 5Needs Wants and Expectations of Target Market

Maslow’s Hierarchy of Needs

Needs, Wants and Expectations

Realization of Goals

A Foundation ofGood Health

Developmental Stages of Erik Erikson

Middle Adulthood (35 to 55)

Generativity vs Stagnation

Diseases Produces Fear of Inactivity & Meaninglessness

Wants:

Quality Assurance

Efficacy

Low-Cost

Limited Side Effects

Expectations:

Decrease Blood Sugar Level

Good Glycemic Control

Controlled Side Effects

No Disease Progression

Generics Price Range

Good Value!

Fulfillment of Brand Promise

Part 1: Step 3 of 5Direct and Indirect Competitors

Competitors

Britton

Health Saver

Littman

Metro Drug

Metrolink Pharm

Natrapharm

NextChem

Pharma Nutria

Sanofi-Aventis

Winthrop

Zuellig

Direct Competitors (Branded):

Competitors

The Generics Pharmacy

Generika Pharmacy

Direct Competitors (Generic):

Competitors

Exercise

Herbal Preparations

Insulin

Secretagogues

Thiazolidinediones

Alpha-glucosidaseInhibitors

Incretin-based Treatments

Amylin Analogs

Indirect Competitors:

Competitors

Efficacy:

Glycemic Reduction

Glycemic Control

Reduction of DM Sequelae

Safety:

Minimal Side Effects

Variables:

Competitors

Ease of Treatment Regimen

Brand Perception

Name Recall

Physician Prescription Practice

Accessibility

Availability

Variables:

Position Map

Quality: Regulated (BFAD)

Quality Perception

Variables:

Price-Brand Recall for Quality Matrix

Competitive Position Map

<50 50-100 101-150 151-200 >200

> P8.51

P7.25-P8.50

P5.76-P7.00

P4.51-P5.75

P3.25-P4.50

< P3.25

Unilab +

RiteMed

Zuellig

Brand Portfolio Size as a Function of Brand Saliency & Recall

Metro DrugNextChemPharma Nutria

Britton

Littman

GenerikaThe

GenericsPharmacy

WinthropNatrapharm

Source: IMS 2003 & MIMS 2010

Price-Brand Recall for Quality Matrix

Competitive Position Map

<50 50-100 101-150 151-200 >200

> P8.51

P7.25-P8.50

P5.76-P7.00

P4.51-P5.75

P3.25-P4.50

< P3.25

Unilab +

RiteMed

Zuellig

Brand Portfolio Size as a Function of Brand Saliency & Recall

Metro DrugNextChemPharma Nutria

Britton

Littman

GenerikaThe

GenericsPharmacy

WinthropNatrapharm

Source: IMS 2003 & MIMS 2010

Niche as High Brand Recall for

Quality Low-Cost Drug!

Part 1: Step 4 of 5Customer-Competition GapDemand-Supply Gap

Demand-Supply Gap

Assures Quality of Branded Products

Rite Medicine

Rite Formulation

At Price of Generic Drugs

Rite Price

Other drugs assure quality at a price of high cost or provide low cost with questionable quality.

Wide Market Distribution

RiteMed Metformin is the only product that:

Part 1: Step 5 of 5Market Size

Market Size (DOH Data & Journals)

3.4 Million Filipinos with Diabetes

94% Class C-E

Oral Anti-Diabetic Consumption 2007

94% Class C-E

31% Prescribed Metformin

Oral Anti-Diabetic Consumption 2007

Social Weather Stations (SWS) survey showed the percentage of Filipinos using generic drugs increased to 55 percent in 2008.

94% Class C-E

31% Prescribed Metformin

55% Use Generic Drugs

PhP 3.15 Retail Cost of 1 Metformin HCl Tab

Consumption: 2x/Day

Market Size: PhP 1.2 Billion 10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy

(Business Monitor International Data)

Market Size

Market Size (International Data)

Philippine Pharmaceutical Industry

PhP116 Trillion

Share of Oral Anti-Diabetics

3% or PhP3.5 Billion

Share of Metformin

31% or PhP1.08 Billion

Market Size: PhP 1.08 Billion

Market Size (Company)

RiteMed Revenue

PhP 5.29 Billion

Share of Oral Anti-Diabetics

2.59% or PhP 1.5 Billion

Market Size: PhP 1.5 Billion

Market Size

Local Data: PhP1.2 Billion

International Data: PhP1.08 Billion

Company Data: Php1.5 Billion

Market Size: PhP 1 to 1.5 Billion

Marketing Mix StrategyPart II of II

Part 2: Step 6 of 10Product

Metformin HCl Leaders

Product Feature

RiteMed Metformin HCl

Product Feature

RiteMed Metformin HCl

Product Information

Contents:

Metformin HCl

Indications:

Type 2 diabetes inadequately controlled by diet and exercise alone.

Dosage:

Initially 500 mg every 12 hr, dose may be gradualyincreased to a max of 2250 mg daily.

Product Information

Administration:

Administered with After Meals

Contraindications:

Renal Impairment, Congestive Heart Failure, Acute or Chronic Metabolic Acidosis.

Special Precautions:

Elderly, Hepatic and Renal impairment

Product Information

Adverse Drug Reactions:

Anorexia, nausea, vomiting, diarrhea, lactic acidosis, decreased vit B12 absorption

Preparation:

In 500 mg and 850 mg tablets

Part 2: Step 7 of 10Price

20-80% Less Compared to Branded Equivalents

Brand(500mg Preparation)

Price per Tablet(PhP)

PercentagePrice Difference

RiteMed 3.09 -

United Lab Glumet 6.25 + 102.26%

Boie Metformin 4.00 + 29.4%

Britton Briform 4.50 + 45%

Pharma Nutria Nidcor 4.31 + 39.49%

Zuellig Diafat Sandoz 5.19 + 67.9%

Zuellig Fornidd 6.82 + 120.7%

Zuellig Glucophage 10.50 + 239.8%

Zuellig Humamet 8.00 + 158.9%

Zuellig Pharex Metformin 3.25 + 5.18 %10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy

20-80% Less Compared to Branded Equivalents

Brand(500mg Preparation)

Price per Tablet(PhP)

PercentagePrice Difference

RiteMed 3.09 -

Metro Drug Panfor SR-500 6.50 110.36%

Metro Drug Diazen 3.50 13.26%

Metro Drug Glucoform 5.60 81.2%

Metro Drug Glucomed 3.42 10.68%

Metro Drug Neoform 500 3.35 8.41%

Natrapharm I-Max 5.60 81.22%

NextChem Insunex 3.50 13.27%

Littman Neomet 5.00 61.81%

Winthrop Metformin HCl 4.50 45.6 %10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy

Cheapest Drug Available in the Market

43% Cheaper Than Industry Average

Main market strategy: Price leader

Cheapest Alternative for Metformin

While Assuring Quality and Efficacy of Product

Part 2: Step 8 of 10Promotion

Promotional Strategies

Advertisements Tri-Media

Public Relations Corporate Social Responsibility, Partnership with

Public/Private Sector(s)

Marketing Sales Representatives

Health Education Campaigns

RiteMed Metformin Group Marketing Plan

Documents

Pharmacogenetic Variation and Metformin Response

Metformin Presentations

Metformin 500mg Tablets BP Metformin 850mg Tablets · PDF fileMetformin 500mg Tablets BP Metformin 850mg Tablets BP PL 17907/0080 PL 17907/0081 UKPAR TABLE OF CONTENTS Lay summary

Asia • Philippines UNILAB’s RiteMed Initiative: Making ...growinginclusivemarkets.org/media/cases/Philippines_RiteMed_2008.pdf · Asia • Philippines . UNILAB’s RiteMed Initiative:

Metformin: historical overview - Springer · PDF filedemonstrated a uniqueness and utility of metformin that fos-tered its rescue. The introduction of metformin into the USA in 1995

Metformin Side Effects

Mikhail tenazas rite med metformin

Metformin prevents hyperglycaemia-associated, oxidative

Metformin & glipizide microspheres

Metformin presentation sigma xi

Metformin - repozitorij.pharma.unizg.hr

Metformin and Exercise; the Effects of Metformin in the

Introducere Curs Complete Metformin

Bioavailability Study of Metformin

Target of Metformin

D011, metformin

Heritage Pharmaceuticals Inc. METFORMIN HYDROCHLORIDE

Co-Amorphous Combination of Nateglinide-Metformin ... · and Metformin hydrochloride to enhance the dissolution rate of poorly soluble Nateglinide. Nateglinide (120 mg) and Metformin

Nephrotic Syndrome Due to Metformin

TAGI Pharma, Inc. METFORMIN HYDROCHLORIDE- metformin