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Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
Novo Nordisk - Selling Diabetes Medicines in India
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Novo Nordisk - Selling Diabetes Medicines in India

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  • 1. ADAPTATION Selling Diabetes Medicine in India
  • 2. Sameer Mathur BuddingMarkets.com Indian Institute of Management, Lucknow Marketing Professor 2013 – Asst. Professor (Marketing) 2009 – 2013 Ph.D. and M.S. (Marketing) 2003 – 2009
  • 3. About Novo Nordisk Novo Nordisk’s Business Model Novo Nordisk in India Concluding Remarks
  • 4. • Novo Nordisk was founded in 1923 by Danish medical researcher August Krogh • The largest company in Denmark based on market value • 70% of the company’s revenues come from pharmaceutical products for diabetics • 43% of its employees are in Denmark, while 57% are spread all over the world ABOUT NOVO NORDISK
  • 5. PRODUCT PORTFOLIO • Modern insulins • NovoRapid • NovoMix • Levemir • Human insulins • MixTard • Protein-related products • Victoza • Oral antidiabetic products ABOUT NOVO NORDISK
  • 6. BUSINESS MODEL • Value Proposition • Core Competencies • Management Model • Market Participation
  • 7. NOVO NORDISK: CREATING VALUE • Product Leadership • $1.6 billion on R&D in 2011 • Customer Intimacy • “Insulin treatment is generally characterized by strong brand loyalty and limited switching between therapies.” – Novo Nordisk • Broad Product Range BUSINESS MODEL
  • 8. CORE COMPETENCIES • Innovation and R&D • Established R&D centres globally (clinical trials) • New product development in domestic R&D centres BUSINESS MODEL
  • 9. NOVO NORDISK R&D CENTERS
  • 10. CORE COMPETENCIES • Innovation and R&D • Established R&D centres globally (clinical trials) • New product development in domestic R&D centres • Experience as a competitive advantage • Well established distribution network • Brand Reputation BUSINESS MODEL
  • 11. MANAGEMENT MODEL • Think in long-term • Emphasis on corporate social responsibility • Centralized organizational structure BUSINESS MODEL
  • 12. MARKET PARTICIPATION • 51% Market Share in Europe • 51% Global Market Share • Compared to the 2nd biggest competitor Eli Lilly – 23%
  • 13. GLOBAL STRATEGY IN INDIA • The Indian Market • AAA Framework • Value Disciplines in India
  • 14. THE INDIAN MARKET • Largest population of people living with diabetes • 62.4 million people with Type II diabetes in 2011 • $222 million industry • Growth opportunities: • Developing in medical infrastructure • Increases in insurance coverage • Indians are more accepting to modern medicine GLOBAL STRATEGY
  • 15. AGGREGATION • 1994: Novo Nordisk India Private Limited • Regional hub for the Asia-Pacific region • Clinical trials • Data Management • Financial services • Exclusive agreement with Ahmedabad-based Torrent Pharmaceuticals Ltd. • Formulation, manufacturing and packaging facility • Seek opportunities to collaborate with local firms GLOBAL STRATEGY Novo Nordisk India Bangalore Office
  • 16. AGGREGATION • By centralizing key components of the value chain, Novo Nordisk can: • Provide more affordable insulin products • Offer faster delivery rate • Solidify presence in the market • Current Market Share: 61% GLOBAL STRATEGY
  • 17. ADAPTATION • Lower prices compared to developed countries • 60% of diabetic patients pay for their own medication • Lower average prices compared to competitors • Novo Nordisk: USD 3.48 • Eli Lilly: USD 4.99 GLOBAL STRATEGY
  • 18. ADAPTATION • Offers different product range more suitable to low-income patients • Certain products that have been withdrawn from developed markets are still offered in India • Ex. Mixtard • Special Case: Victoza • Focus on niche segment GLOBAL STRATEGY
  • 19. VALUE DISCIPLINE IN INDIA • No longer focuses on being a Product Leader • Emerging markets cannot afford innovation • More on Customer Intimacy to build brand loyalty • Changing Diabetes In Children (CDIC) • Free insulin for poor children • TakeAction! India • Awareness campaign for school children, teachers and parents from four local schools in Bangalore • Prevention of diabetes and lifestyle modification GLOBAL STRATEGY
  • 20. NOVO NORDISK AND BEYOND http://www.youtube.com/watch?v=xa_FNmeGIVQ
  • 21. Over 1 Million views from more than 100 countries Prof. Sameer Top 1% most viewed Mathur Over 250 presentations on Marketing www.BuddingMarkets.com

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