This paper discusses the product life cycle of the cholesterol-lowering statin drug called Crestor.
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Paper Summary:
This paper explains that the drug, Crestor, burst onto the market, rather than slowly unfurling as is more common in product introductions, because the demand for this drug was so tremendous. The author points out that Crestor reached maturity relatively quickly; several competitors entered the market, but Crestor's extensive advertising projected a superior drug in comparison to its statin-blocking competitors. The paper relates the potential early demise of Crestor because the FDA is questioning the safety of stain drugs, and Crestor seems poised to face costly litigation, which could deplete any attempts to manage effectively its current downturn.
From the Paper:
"Thus, after a period of development, a product is introduced or launched into the market. Hopefully, for its makers, it gains more and more customers as it grows in reputation and customers desire to use it more and more, and see its value in their daily lives. Then, eventually the market stabilizes and the product becomes mature. Competitors seize some of the market share and deploy other systems of maximizing their own value chains. After a period of time the product is overtaken by development and the introduction of superior competitors, it goes into decline and is eventually withdrawn. Of course, most products fail in the introduction phase. Others have very cyclical maturity phases where declines reverse, and the life cycles begin again as the product is promoted and regains customers and market share."
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