Pharmacia & Upjohn
Pharmaceutical industry analyst estimate that it was common for patented prescription drugs to love up to 60% of their volume within six months after their patent expired due to generic competition. However, this situation was typical of prescription drugs and not necessarily prescription drugs converting to a nonprescription status upon expiration of their pattern. In my opinion, the brand awareness that Rogaine has built over the past 8 years coupled with a reduction in price and no need for multiple MD visits would increase sales a great deal.
I predict that the competition would have a very small market share, at least initially. * Would the US marketing strategy developed for nonprescription Rogaine prior to the FDA’s recent rulings need to be modified? It would have to be modified slightly, to exclude the word “only”. I recommend keeping “Rogaine”, as it’s a strong name to build upon, as well as the concept of “system of hair care”, integrating Progaine’s name with Rogaine.
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References Kerin R. & Peterson R. 2011. Strategic Marketing Problems. Cases and Comments. Pearson