Marketing Pristiq: The Advertising Challenge


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Case Details:

Case Code : MKTG229
Case Length : 26 Pages
Period : 2005-2009
Pub Date : 2009
Teaching Note :Not Available
Organization : Wyeth
Industry : Pharmaceuticals
Countries : US

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Please note:

This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Excerpts

Background Note

In 1860, two brothers, John Wyeth (John) and Frank Wyeth, opened a retail drugstore called John Wyeth & Brother (JWB) and a small research lab in Philadelphia, USA. The brothers began manufacturing medicines in huge quantities for doctors in 1862...

The Blockbuster Anti-Depressant - Effexor

In 1993, Wyeth launched Effexor (Venlafaxine), a medicine for treating major depression disorder (MDD) in adults in the US market. Effexor was the first serotonin and norepinephrine reuptake inhibitor (SNRI) ever to be developed...

Effexor's Successor

The problem Wyeth faced was that the patent for Effexor XR was set to expire in 2010, and its generic versions were expected to be available in the market from July 1, 2010. With the patent expiry date for Effexor XR nearing, Wyeth wanted a drug that would replace it...

Marketing Pristiq

Wyeth priced Pristiq at a price point 20% lower than what was charged for Effexor XR. Pristiq was priced at US$ 3.41 per pill for both the medium (50 mg) as well as the high (100 mg) dosages. (In comparison, a 75 mg dosage of Effexor XR was priced at US$ 3.58, while a 150 mg dosage was priced at US$ 4.19. )...

The Results

Wyeth had high expectations from Pristiq. It forecasted annual sales of US$ 1 billion through drug sales in the market. But Pristiq failed to meet these expectations in the first few months of its release...

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