Pros And Cons Of Each Of The Alternatives Facing Jjm Essay Example
Consider the advantages and disadvantages of each of the options JJM has to choose from.
JJM had two options for introducing Pepcid AC as an over-the-counter (OTC) medicine. Option 01 was to argue with the FDA regarding the treatment and prevention claims, thereby preserving the opportunity to be the first entrant. This option presented several advantages. One advantage was the potential for a competitive edge, as if approved by the FDA, the prevention claim for Pepcid AC would distinguish it from similar medicines on the market. This differentiation could give JJM and Pepcid AC a competitive advantage over their competitors. Another advantage was being a first mover in two aspects. If successful, JJM would position Pepcid AC as the first H2 drug to obtain OTC approval from the FDA and also the first to receive approval for the preve
...ntion of heartburn, rather than just providing symptomatic relief. These dual first mover advantages could greatly contribute to the success of Pepcid AC in the OTC market.
Cons: A major investment is required to prove prevention claims. This includes conducting clinical studies to prepare for submission to the FDA, which could be a substantial expense for JJM. There is a risk of losing the first mover advantage. If Pepcid AC does not receive FDA approval for its prevention claim, the introduction of the product into the OTC market could be delayed. This could result in Pepcid AC losing the advantage of being the first to offer its benefits compared to competing products. There are costs associated with customer switching. If Pepcid AC loses its first mover advantage, it may be difficult and costly to attract customers who are hesitan
to try alternative OTC products after already experiencing the benefits of a particular medication. Overcoming the first mover advantage in the OTC market requires significant investment, effort, and aggressive marketing to differentiate the product from existing options. An alternative option is to drop the prevention claim and increase the chances of being the first to market Pepcid AC as an over-the-counter medicine.
Pros: One benefit is an increased chance of gaining the first mover advantage in the OTC market. This is because obtaining FDA approval for the treatment of heartburn alone would likely be easier and faster.
Cons: On the other hand, there is a risk of losing the competitive advantage. Dropping the prevention claim and focusing solely on treating heartburn may not provide a critical differentiating factor from competitors like Tagment, especially if they are also close to obtaining FDA approvals.
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