Define and set goals for panacea

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Reference no: EM131000099 , Length: word count:600

Read the case below and answer the following question.

Scenario

Panacea is one of the world's largest pharmaceutical companies. Based in the US, it has a wide range of successful products in the market that includes various drugs for hypertension, diabetes, thyroid disorders, and antibiotics. Currently, it has only one product on the market for cancer treatment generating roughly $500M in annual sales. In the next 6-12 months, it is planning on introducing a new cancer drug in the market. This particular drug, GCN- 4000, will be for cancer patients, and its target audience is oncologists. GCN-4000 has already completed clinical trials and is currently awaiting approval from the FDA (the client is expecting FDA approval based upon the trial results). If this new drug is introduced this year, there will be no competition for at least one year. The current sales force includes 750 sales representatives who support the company's cancer drug that is already in the market. To successfully introduce the new drug to the oncology market, the client will need to invest in expanding its sales division.

Define and set goals for Panacea in terms of expanding its sales force.

Reference no: EM131000099

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