You have been tasked with developing a pricing and marketing strategy for Comanapracil. As you undertake this task, refer to the resources provided:
U.S. Breast Cancer Statistics
Annual Costs of Cancer Care—Cancer Prevalence and Cost of Care Projections
Chemo Costs in U.S. Driven Higher by Shift to Hospital Outpatient Facilities
Breast Cancer Drug—Comparison Chart
Create a 10- to 15-slide presentation, for the board of directors, to convince them that Comanapracil is a good investment. The presentation should address the following economic issues related to the marketing of Comanapracil:
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.
Describe where and to whom you will focus your marketing efforts. For each, detail why they are important.
Explain how you will ensure that insurance companies pay for your drug.
Explain the elasticity of demand for a drug like Comanapracil. What factors could potentially change the elasticity of demand?
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.