FM005 Assessment Instructions
Review the details of your assessment including the rubric. You will have the ability to submit the assessment once you submit your required pre-assessments and engage with your Faculty Subject Matter Expert (SME) in a substantive way about the competency.
In this Assessment, you will use information from the case scenario below, along with the supporting documents provided, to demonstrate your ability to apply economic concepts to make recommendations for organizational decisions.
Case Scenario: Launching a Cancer Drug: Comanapracil
You are a pharmaceutical executive and you are preparing a presentation for a Board of Directors. You believe that your firm, Ropache, may have developed a promising new drug, Comanapracil, which seems to arrest the progress of breast cancer for 2 years with no significant side effects. Clinical trials suggest that the drug is 100% effective for 2 years. After 2 years, tumor growth resumes at the same rate. Therefore, Comanapracil can only be used for a 2-year course, after which it loses its effectiveness.
Chemo Costs in U.S. Driven Higher by Shift to Hospital Outpatient Facilities
GDP Per Capita
Health Expenditure Per Capita
Part I: Determining Pricing and Marketing Strategy for a New Drug
U.S. Breast Cancer StatisticsAnnual Costs of Cancer Care—Cancer Prevalence and Cost of Care ProjectionsChemo Costs in U.S. Driven Higher by Shift to Hospital Outpatient Facilities
Develop and present estimates for the demand for Comanapracil and the price of the drug you think the market will bear. Be sure to include the number of customers for this drug.
Explain three ways you will ensure that insurance companies pay for your drug.
Assume you are able to obtain a patent and are ready to go to market immediately. Explain the length of time for which your drug will receive patent protection, so that you are protected from competition prior to generics entering the market. Also, explain why patent protection exists in healthcare.
Part II: Compare International Healthcare Systems to Develop an International Market Entry Strategy
It is your job to develop a market analysis for four different healthcare markets with unique insurance systems. These four analyses will be contained within one 10- to 11-slide presentation to the board of directors. Your analysis will serve as a basis for deciding which country to market Comanapracil:
Create your presentation as follows:
Next, based on what you have learned about the healthcare systems of Germany, the United States, Ghana, and Brazil, create four slides (one for each country) that summarize how each healthcare system is structured.
Do other drugs provide similar effectiveness in treating this disease?
Note: Your presentation should provide key concepts in the slides with a full discussion as your narrative below in the speaker notes, while using the rubric for guidance to meet expectation.