Victoza i USA: Anbefaling af mulige handlestrategier for Novo Nordisk på det amerikanske marked

Christina Nielsen

Student thesis: Master thesis

Abstract

The purpose of this thesis is to examine the US type 2 diabetes market and recommend possible strategies for Novo Nordisk to pursue external market opportunities for Victoza in the US. Victoza is the company’s newest type 2 diabetes drug that has been approved by the US Food and Drug Administration (FDA). Therefore, Novo Nordisk wants an assessment of the opportunities and challenges the US market can pose and a suggestion to how the company can take advantage of the present opportunities in the US. Victoza is the safest and most effective GLP-1 analogue in the US and Novo Nordisk has a limited time to gain market shares, before longer acting GLP-1 analogues enter the US market. In order to recommend possible strategies for Novo Nordisk, it was essential to perform an internal resources- and capabilities analysis of Novo Nordisk and an external environmental analysis of the US market. The SWOT model is used as the overall theory for the whole thesis, since the model can be used to get an outline of a company’s internal and external situation. The findings of the internal analysis reveal that Novo Nordisk has more strengths than weaknesses, which can be used to take advantage of the future opportunities of growth and revenue in the US diabetes market. Novo Nordisk has specialized in diabetes care and has experienced growing profits and is a successful pharmaceutical company, that has built a very good and attractive image worldwide, thanks to the company’s social and environmental commitment. The external environmental analysis of the US market was conducted with the help of the PESTEL analysis in order to get a picture of the opportunities and challenges on macro level. The meso level of the external analysis was analyzed with the help of Porters Five Forces. The findings of the external analysis reveal that there are a lot of challenges for Novo Nordisk in the US, but also a lot of opportunities for Victoza. Some of the opportunities are the passing of the new Health Care Reform that in time will ensure that 95 % of the Americans will be covered by health insurance, the unsatisfied needs of diabetes patients and the fact that the development of one of Victoza’s big competitors has been discontinued. Some of the challenges are the low economic growth, the negative opinion about the pharmaceutical industry, the prospect of experiencing fierce competition in the near future and the fact that Victoza is not recommended as first line therapy for diabetes treatment. Based on the two analysis of this thesis, it can be concluded that the US market contains more opportunities than challenges. This is why Novo Nordisk will be well advised to penetrate the US diabetes market with Victoza, since the US market is the biggest in the world. The findings of the internal and external analysis are matched in a TOWS analysis, where strategic options are identified. Only strategies where Novo Nordisk’s internal resources and capabilities match the external opportunities should be implemented, because it is crucial that Novo Nordisk take advantage of Victoza’s favorable market position as the safest and most effective GLP-1 analogue in the US. In order for Novo Nordisk to take advantage of the present opportunities in the US, it can be recommended that Novo Nordisk implement the following strategies when Victoza is launched: To run a DTC marketing campaign of Victoza online To bring the necessity of treating high risk diabetes patients into focus

EducationsMA in International Business Communication (Intercultural Marketing), (Graduate Programme) Final Thesis
LanguageDanish
Publication date2010
Number of pages92