| Pfizer has embarked on a business recast exercise in India on the marketing front to align itself with the business model followed by the parent company globally.
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| As part of the exercise, the company has created seven strategic business units (SBUs) on the basis of the core therapeutic categories it has been focussing on.
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| The objective is to approach the market scientifically and establish the brands among the medical fraternity. This is crucial at this juncture as the company anticipates several latest generation drugs from its global research and market portfolios to be launched in the country, said a senior Pfizer executive.
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| Pfizer has a 1400-strong field force in the country and this will be divided into seven SBUs. “As far as the new generation products are concerned, the scientific awareness of the product among medical fraternity and patients is most important for the success of the brands,” he said.
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| The therapeutic categories that the company is now focussing on in Indian market include cardiovascular, neuroscience, oncology, ophthalmology, endocrinology, urology and hospital & criticalcare.
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| Pfizer India Managing Director Kewal Handa said that the restructuring aimed at bringing the Indian outfit’s marketing model in alignment with the therapeutic focus of Pfizer worldwide.
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| “The new strategy will enable specialised attention to each therapeutic segment as there will be separate teams with scientific knowledge working on these speciality areas,” he added.
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| With this move, the specialised marketing teams will be trained comprehensively on their respective areas by the medical experts which will help them to disseminate latest scientific data on the products to create awareness and update medical fraternity about the disease, treatments and even early diagnostic tips.
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| This will enable the marketing professionals to know in-depth about the products scientifically. With this, the field force from each SBU will be able to concentrate on the particular segments of speciality doctors.
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| K G Ananthakrishnan, senior director, Pharmaceuticals, Pfizer India, said the new strategy was initiated in the run up to the company’s introduction of several new products in India. “The launch of Viagra in the Indian market is one such instance as it requires creation of increased medical awareness than a conventional promotion,” he added.
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| Pfizer in India has a completely different profile, vis-à-vis the parent company and many other emerging market subsidiaries.
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| Two of Pfizer India’s brands, Corex-a cough formulation and Becosules-a multivitamin, continue to rank as the No.1 and 2 brands amongst all pharmaceuticals produced in India.
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| The company today launched blockbuster drug Viagra in the country, aiming to treat some of the estimated 90 million Indians suffering from erectile dysfunction.
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| “We expect to capture 10 to 15 percent of the market in the next two years,” K G Ananthakrishnan, senior director, pharmaceuticals, said. “The estimated market size is about 750 million to a billion rupees.”
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| The billion-dollar drug would initially launch in 30 cities, seven years after it first hit the U.S. market.
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| On the hige price of the drug, he said “This is to give the customers who need a genuine product at a constant price.” Viagra sales in the Indian grey market are worth about Rs 70 million. |
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