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A Study of Prescription Writing Habit of doctors at Ranbaxy Bangalore, Karnataka A PROJECT REPORT SUBMITTED IN PARTIAL FULFILLMENT OF MASTER OF BUSINESS ADMINISTRATION DEGREE BANGALORE UNIVERSITY, BANGALORE SUBMITTED BY Name MOHAMMAD ARIF KHAN Reg. no. 09DVCMA049
UNDER THE GUIDANCE OF Mrs. Nitu Ghosh Lecturer
Brindavan college Dwarkanagar, Bangalore August,2009
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"Healthcare has emerged as a progressive and largest service sectors in India. Expected GDP spend of 8 per cent by 2012 from 5.5 per cent in 2009. As per industry report, the sector is expected to reach US$ 280 billion by 2020. It is believed to be next big sector after IT. Predicted to reach US$ 280 billion industry by 2020.
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PHARMACEUTICAL INDUSTRY IN INDIA The Indian pharmaceutical industry is the world's secondlargest by volume. India's bio-tech industry clocked a 17 percent growth with revenues of Rs.137 billion ($3 billion) in the 2009-10 financial year. Bio-pharma was the biggest contributor generating 60 percent of the industry's growth at Rs.8,829 crore. The first pharmaceutical company are Bengal Chemicals and Pharmaceutical Works, set up in Calcutta in 1930.
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In 2002, over 20,000 registered drug manufacturers in India sold $9 billion. 85% of these formulations were sold in India. 60% of the bulk drugs were exported, mostly to the United States and Russia. Most of the players in the market are small-tomedium enterprises 250 of the largest companies control 70% of the Indian market .
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Ranbaxy Laboratories Dr. Reddy's Laboratories Nicholas Piramal Cipla Biocon Serum Institute of India
OTHER IMPORTANT DOMESTIC COMPANIES: y Lupin Ltd y Sun Pharmaceuticals y Torrent Pharmaceuticals y Wockhardt y Cadila Healthcare y Hetero Drugs y Nectar Lifesciences y Macleods Pharma y Intas Biopharmaceuticals y Bharat Serums y Orchid Pharmaceuticals
Title of the study: A Study on the Brand Loyalty at Ranbaxy laboratories ltd. Statement of the problem: yDoctors in course of their career growth develop a habit in writing prescription based on various factors and reasons . yThe prescription writing habit of doctors is of very keen interest to pharmaceutical marketers
study mainly focuses on the reasons behind the formation of prescription writing habit of doctors
Objectives of the study:
To analyze the key reasons for Doctors preference of prescribing drugs. To identify the small and the important factors leading Doctors to write the drugs in their prescriptions. To identify the main reasons for Doctors discontinuing prescribing a particular drug.
Scope of the study
The study covers the Doctors and hospitals based in different parts of Bangalore city.
Type of Research:
The research is descriptive in nature.
The chosen sample size is 50.
Population for the study
the respondents are doctors from within Bangalore city.
Collection of Data
Primary Source: The primary data comprises survey of information using questionnaires´. The data has been collected directly from respondent with the help of structured questionnaires. Secondary Source: The secondary data was collected from internet, magazines and journals. and references from Library.
RANBAXY LABORATORIES LIMITED
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TypePublic (BSE: 500359) IndustryPharmaceutical Founded1961HeadquartersGurgaon, Haryana, India ProductsPharmaceuticals anddiagnostics Revenue$1.619 billion (2009) Employees12,995 (2009) Websitewww.ranbaxy.com
Mission: ¶To become a Research-based International Pharmaceutical Company.· Vision: ¶Achieve significant business in proprietary prescription products by 2012 with a strong presence in developed markets· HISTORY: Ranbaxy was started by Ranbir Singh and Gurbax Singh in 1937 Startetd as a distributor for a Japanese company Shionogi. The name Ranbaxy is a combination of the names of its first owners -Ranbir and Gurbax. His sons Malvinder Mohan Singh and Shivinder Mohan Singh sold the company to the Japanese company Daiichi Sankyo in June 2008.
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Data Analysis and Intepretation
Table 4.1:showing Doctor·s comments regarding the main reasons while choosing a particular drug: y Particulars:No of RespondenceA)Economy50B)Effectiveness50C)Dosage5 0D)Market availability50
y y Chart 4.1:showing Doctor·s comments regarding the main
reasons while choosing a particular drug
No of Respondence
No o R pond n
¡£ ¡ ¢¡
INTERPRETATION y It is a unanimous answer with 100% of the Doctors prescribing a drug on the basis of Economy, Effectiveness, Dosage & Market availability.
Table 4.2:Doctor·s views regarding interdependence: y ParticularsNo of RespondenceA)Economy50B)Effectiveness50C)Dosage5 0D)Market availability50
Chart 4.2:Doctor·s views regarding the relative importance of these factors: No of Respondence
No o R spond n
0 Economy Effe ctive ne ss Dosage Market availability
INTERPRETATION y Again it is a unanimous answer with 100% of the Doctors saying that all the factors are interdependent.
All the doctors consider effectiveness, dosage, economy(price) and market availability of a drug before writing it in their prescription Doctors mostly prefer the pharma companies to contact them from their end regarding their new launches of drugs and mostly prefer an ´in person meetingµ with the Medical Representative as the mode of communication. Most Doctors prefer a short and brief presentation from a Medical Representative while explaining a drug to them. Doctors believe the a Medical representative·s presentation skills, their relationship, & the periodic reminders by the Medical Representative play key role for them in remembering and prescribing the drugs. Doctors are not brand loyal to any company but may use a few drugs of the same but not all. Mostly, in case of specialized medicines.
Many doctors believe that a brands image of market leader doest not influence them in prescribing medicines but a few believed that a brands image has a positive affect on their prescribing habit. The two main reasons for any Doctor to discontinue prescribing any drug are ´µdeveloped drug resistanceµ and ´side-effectsµ. ´Rare market availabilityµ is also a factor but does not hold good mostly in case of specialized drugs. Most of the Doctors have a positive impression about Ranbaxy·s Medical Representatives skills. All the Doctors believe that Ranbaxy is a reliable brand but a few of them do not agree of it being a market leader.
It is suggested that steps to be taken to create an awareness among the Doctors about Ranbaxy·s leader brands as many doctors are not aware of the actual market position. It is also suggested to maintain a constant and uniform availability of the drugs in the Market. It is also suggested that the company should concentrate more on the Doctors who are already prescribing many Ranbaxy·s brands so as to push them towards brand loyalty. Medical Representatives should be given periodic and on the job training to keep up to the Ranbaxy·s name for having skilled Medical Representatives.
The major reasons or the deciding factors for a Doctor to prescribe a particular drug are y Effectiveness, y Dosage, Price and y Market Availablity.
Author name,Title of book, edition, publisher, year of publication, place
WEBSITES: y www.ranbaxy.com y www.ibef.org y www.indiapharma.in y www.economywatch.com