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An important agenda of pharmaceutical companies is the establishment of therapeutic area strategies, drug modality, and geographic strategies for research and development. It is worthwhile to understand the changes in therapeutic area, modality and internationalization of the top-selling pharmaceutical drugs over the past. Hence, the purposes of this study are to investigate changes in therapeutic area, modality and internationalization of the top-selling drugs and to identify their life cycle patterns. We compared the top-selling drugs between 2011 and 2017, and found that the percentages of nichebuster cancer drugs and home region-oriented drugs have increased whereas the proportions of traditional blockbuster cardiovascular drugs and global drugs have decreased. We compared product life cycle patterns via a Kruskal–Wallis test, and identified the features of product life cycle patterns per therapeutic area and modality. We performed a case study on drugs in the same class with the same pharmacological mechanism but found no differences across cases. Our results provide insights into therapeutic area strategies that consider life cycle patterns and geographic strategies that consider the competitive advantages of home region-oriented drugs. Finally, we presented new and simple models of life cycle patterns. This approach may help such enterprises establish and maintain sustainable growth.
Fumio Teramae; Tomohiro Makino; Shintaro Sengoku; Yeongjoo Lim; Takashi Natori; Kota Kodama. Research on Pharmaceutical Product Life Cycle Patterns for Sustainable Growth. Sustainability 2020, 12, 8938 .
AMA StyleFumio Teramae, Tomohiro Makino, Shintaro Sengoku, Yeongjoo Lim, Takashi Natori, Kota Kodama. Research on Pharmaceutical Product Life Cycle Patterns for Sustainable Growth. Sustainability. 2020; 12 (21):8938.
Chicago/Turabian StyleFumio Teramae; Tomohiro Makino; Shintaro Sengoku; Yeongjoo Lim; Takashi Natori; Kota Kodama. 2020. "Research on Pharmaceutical Product Life Cycle Patterns for Sustainable Growth." Sustainability 12, no. 21: 8938.
Research and development (R&D) productivity is continuously declining, and it is said that the conventional model of pharmaceutical business is becoming obsolete. Many research studies on R&D productivity focus on inputs (e.g., strategic transactions to absorb external innovation, R&D expenditures), outputs (e.g., approvals of a new drug), and outcomes (e.g., total sales, incomes). However, few prior studies address the relationship among these three components simultaneously. Therefore, we comprehensively analyzed factors affecting R&D productivity by statistically examining a sample of 30 large multinational companies. Our results show that strategic transactions do not increase the number of approved drugs and negatively affect growth in terms of total sales. Additionally, our results show that a home-region-oriented international strategy positively affects total sales, thus indicating that responsiveness to local medical needs is important for sustainable growth. This paper contributes to the body of research on R&D productivity in the pharmaceutical industry.
Fumio Teramae; Tomohiro Makino; Yeongjoo Lim; Shintaro Sengoku; Kota Kodama. Impact of Research and Development Strategy on Sustainable Growth in Multinational Pharmaceutical Companies. Sustainability 2020, 12, 5358 .
AMA StyleFumio Teramae, Tomohiro Makino, Yeongjoo Lim, Shintaro Sengoku, Kota Kodama. Impact of Research and Development Strategy on Sustainable Growth in Multinational Pharmaceutical Companies. Sustainability. 2020; 12 (13):5358.
Chicago/Turabian StyleFumio Teramae; Tomohiro Makino; Yeongjoo Lim; Shintaro Sengoku; Kota Kodama. 2020. "Impact of Research and Development Strategy on Sustainable Growth in Multinational Pharmaceutical Companies." Sustainability 12, no. 13: 5358.
Although it is generally agreed that the pharmaceutical industry is in a state of rapid internationalization, there is no clear comprehensive explanation of the current state and effectiveness of an international strategy. There are many studies about internationalization but they neither focus on the pharmaceutical industry nor evaluate the effectiveness of an international strategy with a control. Therefore, we investigate the current state of internationalization with a sample of the 30 multinational pharmaceutical companies, as well as the effectiveness of an international strategy by comparing two international strategies. In this study, we define an international strategy as a strategy that controls the geographic distribution of sales across regions to maximize total sales. The results show that 33% of the companies are still home-region-oriented, and we did not find any evidence of the effectiveness of an international strategy that pursues a balanced geographic distribution across regions in terms of total sales and adjusted total sales. The results provide the practical implication that pharmaceutical companies should weigh up the specific markets to secure higher sales through the advantage of adapting to customers’ needs. This paper contributes to the research on sustainable growth by empirically providing results of comparisons of different international strategies in the pharmaceutical industry.
Fumio Teramae; Tomohiro Makino; Yeongjoo Lim; Shintaro Sengoku; Kota Kodama. International Strategy for Sustainable Growth in Multinational Pharmaceutical Companies. Sustainability 2020, 12, 867 .
AMA StyleFumio Teramae, Tomohiro Makino, Yeongjoo Lim, Shintaro Sengoku, Kota Kodama. International Strategy for Sustainable Growth in Multinational Pharmaceutical Companies. Sustainability. 2020; 12 (3):867.
Chicago/Turabian StyleFumio Teramae; Tomohiro Makino; Yeongjoo Lim; Shintaro Sengoku; Kota Kodama. 2020. "International Strategy for Sustainable Growth in Multinational Pharmaceutical Companies." Sustainability 12, no. 3: 867.
Japan officially introduced cost-effectiveness analysis (CEA) in 2019, whereas some countries, such as England, Sweden, Canada, and Australia, have experience with health technology assessment (HTA). Therefore, there are few reports that comprehensively examine the situation of health economic evaluation in Japan. In this paper, we review the health economic evaluation systems among those countries. We also conducted a case study that investigated the time-trend of cost, effectiveness, and incremental cost-effectiveness ratio (ICER) for anticancer drug regimens in Japan. We found a time-trend ICER for breast cancer (BC). Additionally, molecular targeting drugs for BC had a positive effect on the ICER, and both small molecular-targeting drugs and monoclonal antibodies (mAb) had a higher ICER for BC compared with conventional drugs. Finally, we discuss a possible way to implement a health economic evaluation system in Japan.
Fumio Teramae; Naoya Yamaguchi; Tomohiro Makino; Shintaro Sengoku; Kota Kodama. Holistic cost-effectiveness analysis of anticancer drug regimens in Japan. Drug Discovery Today 2019, 25, 269 -273.
AMA StyleFumio Teramae, Naoya Yamaguchi, Tomohiro Makino, Shintaro Sengoku, Kota Kodama. Holistic cost-effectiveness analysis of anticancer drug regimens in Japan. Drug Discovery Today. 2019; 25 (2):269-273.
Chicago/Turabian StyleFumio Teramae; Naoya Yamaguchi; Tomohiro Makino; Shintaro Sengoku; Kota Kodama. 2019. "Holistic cost-effectiveness analysis of anticancer drug regimens in Japan." Drug Discovery Today 25, no. 2: 269-273.