Improvements of the marketing planning process in the pharmaceutical Essay

Improvements of the marketing planning process in the pharmaceutical company - Essay Example Product group should be appealing to the contemporary market. Assuming social responsibility, and employing competent and trained labour forces are also important. Production should be doen in compliance with the EU directives.More aggresive acquisition, promotion and advertising should be undertaken. Company Introduction ACTAVIS AD (formerly known as BALKANPHARMA) a generic pharmaceutical company was founded in 1999 due to privatizations of its three manufacturing sites at Dupnitza, Troyan and Razgrad, with a manufacturing tradition of half a century. It the Bulgarian branch of the MNC generic pharmaceutical group ACTAVIS HF (earlier PHARMACO). The group head quartered in Iceland has its operations in more then 25 countries. Actavis AD is the leading generic pharmaceutical company in Bulgaria enjoying substantial market share both in terms of value and volume. Currently operation and production have been segregated from marketing and sales and Actavis represents the marketing and sales aspect. The ratio of domestic sales and export sales is also significant (51%/49%). It continues to enjoy the traditional favored position both in the domestic market as well as in USSR. The entire capital and is owned by the mother concern and Actavis is the biggest tax payer in Bulgaria. It is the driving force in th e Bulgarian domestic pharmaceutical market. Several restructuring has taken place to divert it focus from the safe and closed market to the more competitive open market. Ongoing efforts to incorporate the Good Manufacturing Practices into its manufacturing facilities are on. To counter foreign and domestic competition various aspects are being developed. ACTAVIS AD in 2002 became the only European pharmaceutical company with a... An analysis of   the market status of Actavis AD   within the Bulgarian pharmaceutical industry, along the significant economic   determinants operating in all markets, namely, supply and demand, barriers to entry and the pricing of goods, production cost and profit, aids in understanding the company’s market status and in devising future strategies.Within the Bulgarian pharmaceutical sector the demand is mostly created by the public funds, namely National Health Reimbursement Fund; hospitals and Ministry of Health centralized tenders. The demand market is differentiated along three parameters, namely those goods which are reimbursed and those which are free sales ones; those which are for sale in hospitals and those which are sold at pharmacies; those which are patented and those which are generic. There is a possibility to enhance the demand in the pharmaceutical market. The supply market can best be represented by the volume in the pharmaceutical market. The market su pply volumes merely indicate the part of the demands which has been satisfied, the actual sales. Actavis Ad enjoys significant market volume (35% in terms of market volume share and 18% in terms of market value share). It emerges as the clear leader outrunning its major business rival Sopharma by 8% in terms of market value share. Despite the small size of the Bulgarian pharmaceutical market(Polish market being ten times bigger) Actavis has recorded a significantly high growth rate attributed to it’s ever expanding portfolio in generic products, commitment.