FM005 Assessment Instructions

Review the details of your assessment including the rubric. You will have the ability to submit the assessment once you submit your required pre-assessments and engage with your Faculty Subject Matter Expert (SME) in a substantive way about the competency.

Overview

In this Assessment, you will use information from the case scenario below, along with the supporting documents provided, to demonstrate your ability to apply economic concepts to make recommendations for organizational decisions.

Case Scenario: Launching a Cancer Drug: Comanapracil

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You are a pharmaceutical executive and you are preparing a presentation for a Board of Directors. You believe that your firm, Ropache, may have developed a promising new drug, Comanapracil, which seems to arrest the progress of breast cancer for 2 years with no significant side effects. Clinical trials suggest that the drug is 100% effective for 2 years. After 2 years, tumor growth resumes at the same rate. Therefore, Comanapracil can only be used for a 2-year course, after which it loses its effectiveness.

This Assessment requires submission of two (2) documents. Save your files as follows:

  • Save Part I as FM005_PartI_firstinitial_lastname (for example, FM005_PartI_J_Smith).
  • Save Part II as FM005_PartII_firstinitia_lastname(for example, FM005_PartII_J_Smith).

You may submit a draft of your assignment to the Turnitin Draft Check area to check for authenticity. When you are ready to upload your completed Assessment, use the Assessment tab on the top navigation menu.

To complete this Assessment:

  • Download the Academic Writing Expectations Checklist to use as a guide when completing your Assessment. Responses that do not meet the expectations of scholarly writing will be returned without scoring. Properly formatted APA citations and references must be provided, where appropriate.
  • Be sure to use at least two scholarly academic resources as specified in the rubric. This means using Walden Library databases to obtain peer reviewed articles. Additionally, .gov (government expert sources) are a quality resource option. Note: Internet and .com sources do not meet this requirement. Contact your coach or SME for guidance on using Library Databases.
  • Carefully review the rubric for the Assessment as part of your preparation to complete your Assessment work.

Instructions

Before submitting your Assessment, carefully review the rubric. This is the same rubric the assessor will use to evaluate your submission and it provides detailed criteria describing how to achieve or master the Competency. Many students find that understanding the requirements of the Assessment and the rubric criteria help them direct their focus and use their time most productively.

Access the following to complete this Assessment:

This assessment has two-parts. Click each of the items below to complete this assessment.

PART I: DETERMINING PRICING AND MARKETING STRATEGY FOR A NEW DRUG

  • You have been tasked with developing a pricing and marketing strategy for Comanapracil, which you will share in a 10 – 15 slide presentation with board of directors. As you undertake this task, be sure to address the following:
    • 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
      • 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 three ways 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.

Note: Your presentation should provide key concepts in the slides with a full discussion as your narrative below in the speaker notes, while using the rubric for guidance to meet expectation.

PART II: COMPARE INTERNATIONAL HEALTHCARE SYSTEMS TO DEVELOP AN INTERNATIONAL MARKET ENTRY STRATEGY

  • It is your job to develop a market analysis for four different healthcare markets with unique insurance systems. These four analyses will be contained within one 10- to 11-slide presentation to the board of directors. Your analysis will serve as a basis for deciding which country to market Comanapracil:
    • Germany
    • United States
    • Ghana
    • Brazil
  • Create your presentation as follows:
    • The first slide will be an analysis of the relationship between spending on healthcare per capita and life expectancy in each country. Refer to the learning resources to create a chart comparing the spending on healthcare per capita with the life expectancy in each country. Underneath the chart, on the same slide, address the question: Is there a relationship between life expectancy and healthcare spending?
    • Next, based on what you have learned about the healthcare systems of Germany, the United States, Ghana, and Brazil, create four slides (one for each country) that summarize how each healthcare system is structured.
    • Next, create another four slides (again one for each country). Each of these slides should summarize your findings from conducting a SWOT analysis for each country (that is, identify the economic strengths, weaknesses, opportunities and threats) associated with marketing Comanapracil in each country.
    • Create one to two slides recommending which two countries are most attractive for marketing Comanapracil and why.
  • Your board has shown a particular interest in the German market. In order to market your drug in Germany successfully, you must be approved by the German Institute for Quality and Efficiency in Health Care (IQWIG). Create two to three slides, which argue for the importance of why your drug should be approved by the IQWIG. Address the following issues:
    • How much of a gain in health outcomes will this drug provide?
    • Do other drugs provide similar effectiveness in treating this disease?
    • How many people will benefit from this drug? Explain why some people will benefit from the drug more than others.

Note: Your presentation should provide key concepts in the slides with a full discussion as your narrative below in the speaker notes, while using the rubric for guidance to meet expectation.

 

 
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