Economics homework help. Final Case Study Outline:  Merck Pharmaceuticals (Keytruda®, Pembrolizumab)
 
 

  • Title Page
    • Title of the Paper- Focused on Merck Pharmaceuticals, particularly their blockbuster drug Keytruda® (Pembrolizumab)
    • Name
    • Correspondence

 

  • Abstract
    • Brief summary of key sections of the paper
    • Keywords

 

  • Introduction
    • General overview of Merck Pharmaceuticals, their spectrum of pharmaceutical development
    • Define what makes Merck newsworthy and their Research and Development Pipeline
    • Focus on Merck’s strategies, overall vision, goals, business objectives
    • Overview of Blockbuster drug- Keytruda® (Pembrolizumab); PD-1 inhibitor immunotherapy for treatment of various oncology indications (melanoma, non-small cell lung cancer, urothelial carcinoma, metastatic head and neck squamous cell carcinoma, advanced gastric carcinoma, Hodgkin’s lymphoma, solid tumors)
    • Focus on Merck’s Competitors with similar products:
      • Roche (comparator product Tecentriq® or Atezolizumab)
      • Bristol Meyers Squibb (comparator product Opdivo® or Nivolumab)
    • Oligopoly vs. Pure Competition: what makes Merck maintain its competitive streak and what is the market structure
    • Regulatory authorities: focus on Merck’s compliance programs:
      • Food and Drug Administration (FDA)
      • S. Department of Health and Human Services
      • Code on Interactions with Healthcare Professionals created by the Pharmaceutical Research and Manufacturers of America (PhRMA)

 

  • Section 1: Demand Analysis Concepts:
    • Apply the Law of Demand and Purchasing Power Effect:
      • Evaluate the real value and demand for Ketruda® and similar new immunotherapy drugs with indications in multiple tumors to increase overall survival, improve morbidity and mortality, progression of disease, and quality of life
    • Target Marketing (Oncology drugs and demand), Positioning, Subsitution
    • Strategic Advertising
    • Apply concepts of price elasticity of demand

 

  • Section 2: Production and Cost Analysis Concepts:
    • Assess the blend of labor vs. capital intensity in Merck Pharmaceuticals
    • Assess fixed and variable costs
    • Apply concepts of Returns to Scale, Diminishing Marginal Returns (if applicable)

 

  • Section 3: Strategy Analysis Concepts:
    • Value-based pricing
    • Life Cycle Pricing: from clinical research with Keytruda® where it is provided free of cost to research patients to the FDA approval post-marketing and group pricing to hospitals (340-B pricing, patient assistance programs)
    • Niche pricing

 

  • “What they got right” Analysis:
    • CEO’s vision and overall contribution to success: “The mission of Merck and other pharmaceutical companies at the time (1950s) was to take care of patients and profits would follow” to new mission statements
    • Quality and consistency in delivery of products and services

 

  • Conclusion:
    • Summary of the most important concepts as applicable throughout the course/class and their applicability to Merck, with blockbuster product like- Keytruda®

 

  • References:
    • All references cited throughout the paper and a complete listing with full citations at the end

 
 
 
 
 

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