Novo Nordisk Adaptation - Selling Diabetes Medicine in India

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ADAPTATION:

ADAPTATION Selling Diabetes Medicine in India

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About Novo Nordisk Novo Nordisk’s Business Model Novo Nordisk in India Concluding Remarks

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Sameer Mathur BuddingMarkets.com Asst. Professor (Marketing) 2009 – 2013 Ph.D. and M.S. (Marketing) 2003 – 2009

About Novo Nordisk:

About Novo Nordisk Novo Nordisk was founded in 1923 by Danish medical researcher August Krogh The largest company in Denmark based on market value 70% of the company’s revenues come from pharmaceutical products for diabetics 43% of its employees are in Denmark, while 57% are spread all over the world

About novo nordisk:

About novo nordisk Product Portfolio Modern insulins NovoRapid NovoMix Levemir Human insulins MixTard Protein-related products Victoza Oral antidiabetic products

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business model Value Proposition Core Competencies Management Model Market Participation

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Novo nordisk : Creating Value Product Leadership $1.6 billion on R&D in 2011 Customer Intimacy “Insulin treatment is generally characterized by strong brand loyalty and limited switching between therapies.” – Novo Nordisk Broad Product Range business model

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Core Competencies Innovation and R&D Established R&D centres globally (clinical trials) New product development in domestic R&D centres Business model

Novo nordisk r&D centers:

Novo nordisk r&D centers

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Core Competencies Innovation and R&D Established R&D centres globally (clinical trials) New product development in domestic R&D centres Experience as a competitive advantage Well established distribution network Brand Reputation Business model

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Management Model Think in long-term Emphasis on corporate social responsibility Centralized organizational structure business model

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Market participation 51% Market Share in Europe 51% Global Market Share Compared to the 2 nd biggest competitor Eli Lilly – 23%

Global strategy in India:

Global strategy in India The Indian Market AAA Framework Value Disciplines in India

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The Indian Market Largest population of people living with diabetes 62.4 million people with Type II diabetes in 2011 $222 million industry Growth opportunities: Developing in medical infrastructure Increases in insurance coverage Indians are more accepting to modern medicine Global strategy

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aggregation 1994: Novo Nordisk India Private Limited R egional hub for the Asia-Pacific region Clinical trials Data Management Financial services Exclusive agreement with Ahmedabad-based Torrent Pharmaceuticals Ltd. Formulation, manufacturing and packaging facility Seek opportunities to collaborate with local firms Global strategy Novo Nordisk India Bangalore Office

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Aggregation By centralizing key components of the value chain, Novo Nordisk can: Provide more affordable insulin products Offer faster delivery rate Solidify presence in the market Current Market Share: 61% Global strategy

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adaptation Lower prices compared to developed countries 60% of diabetic patients pay for their own medication Lower average prices compared to competitors Novo Nordisk: USD 3.48 Eli Lilly: USD 4.99 Global strategy

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adaptation Offers different product range more suitable to low-income patients Certain products that have been withdrawn from developed markets are still offered in India Ex. Mixtard Special Case: Victoza Focus on niche segment Global strategy

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Value discipline in india No longer focuses on being a Product Leader Emerging markets cannot afford innovation More on Customer Intimacy to build brand loyalty Changing Diabetes In Children ( CDIC) Free insulin for poor children TakeAction ! India A wareness campaign for school children, teachers and parents from four local schools in Bangalore P revention of diabetes and lifestyle modification Global strategy

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Novo nordisk and beyond http ://www.youtube.com/watch?v=xa_FNmeGIVQ

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Prof. Sameer Mathur Viewed over 500,000 times Marketing and Strategy Concepts, Articles, PPT

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