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The Key Success Factors and Competitive Strategies of Generic Drugs in American Pharmaceutical Industry
U.S. generics industry chain,Taiwan generics manufacturer,niche drug,merger and acquisition,competitive Strategy,
|Publication Year :||2018|
大型學名藥廠也開始在產品發展策略上逐漸轉型，朝向高附加價值產品發展，如技術門檻較高的特色學名藥(Specialty generics)、生技學名藥(Biosimiliar)及超級學名藥(Super generics)等，以成為具有專業劑型開發技術的開發型藥廠。
This study is centered around the development of Taiwan’s generics manufacturing, with the U.S. generics market as a starting point. Major research questions are the following:
1. Trends occurred in the development of U.S. generics market: What changes have taken place within the industry’s value chain over the past decade? What opportunities and challenges have been brought about by these changes for Taiwan’s pharmaceuticals?
2. Given the changes in U.S. generics industry chain, what are the keys to success and competitive strategies for Taiwanese pharmaceuticals in the U.S. generics market?
Methods adopted by this study include experts and industry interviews, secondary data and literature review, and the author’s observation working in the generics industry. The foci of scholarship engaged revolves around PEST, Porter’s five forces and national environment analyses of the external environment, as well as value chain, SWOT, corporate competitive strategy and business model analyses of the internal environment. Through this process, this study maps out changes throughout the development of the U.S. generics market, its status quo and its value chain system, explores the state of the industry and national competitiveness of Taiwan’s generics market in the external environment, and analyzes the competitive advantages that exist within the internal environment of the Taiwanese generics industry in the U.S. generics market. This study also interviews executives of three iconic, publicly listed Taiwanese pharmaceuticals, and explores their respective competitive strategies and strategy maps in the U.S. export market, in an attempt to analyze the key factors of their success. This study also attempts to use such analysis in a further overlay analysis of the U.S. generics market value chain and the state of Taiwanese pharmaceuticals, in order to explore the niches and competitive advantages of Taiwanese generics industry in the U.S. market with a focus on the overall strategy of exporting to the U.S.
Furthermore, this study provides an overall commentary on the competitive advantages and core competitiveness of Taiwanese generics industry, as well as an analysis of the key factors of success in the U.S. generics market value chain.
Findings made by this study are as follows:
1. The greatest change for the global pharmaceutical value chain has been the transition, merger and integration of individual pharmaceutical companies.
2. Competition has intensified as a result of policies aiming to lower reimbursement and speed up generics approvals.
3. Market concentration has increased, as a result of mergers and acquisitions, both between retail distributors and between generics companies.
Overall, this study suggests the key factors of success and competitive strategies for Taiwanese generics industry in the U.S. market are the following:
1. External acquisition should be the approach in expanding local, regional or global market.
The generics industry will be confronted by a market with increased competition and decreased profit margin, and the trend of M&As between individual companies will also continue. Thus, replacing or acquiring competitions, either by acquiring new manufacture capacity and market or by integrating with and acquiring API supply chains, is a viable approach.
2. Internal focus and differentiation strategies should be employed in term of product development to produce niche drugs.
Major generics companies have now begun to change their strategies toward products of greater added value, such as specialty generics, biosimilar and super generics with greater technological requirement, in a bid to become research-based pharmaceuticals with technologies to develop patented dosage forms.
To conclude, for Taiwanese generics, competitive advantages may be acquired only through active efforts in the development of niche generics.
|Appears in Collections:||事業經營碩士在職學位學程|
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