New horizon health : a high-tech pharmaceutical start-up exploring commercialization strategies / Gaobo She, Chunling Yu, Chengwen Li, Ziqian Zhao, and Luyao Huang.

Format:

Book

Author/Creator:

She, Gaobo, author.

Yu, Chunling, active 2024, author.

Li, Chengwen, active 2024, author.

Zhao, Ziqian, active 2024, author.

Huang, Luyao, author.

He, Jingcheng (Tony), author.

Series:

SAGE business cases.

SAGE business cases

Language:

English

Subjects (All):

Marketing--Case studies.

Marketing.

Physical Description:

1 online resource : illustrations.

Place of Publication:

London : Tsinghua University School of Economics and Management, 2024.

Summary:

In 2014, Exact Sciences, a US-based medical firm, launched Cologuard, an early colorectal cancer screening product that used multi-target DNA detection technology, marking the first successful commercialization of the same kind of product. Enlightened by Cologuard and recognizing the potential of the cancer screening market amidst China's healthcare reform, New Horizon Health Limited (NHH) was founded by a group of scientists and medical professionals from Hangzhou, Zhejiang Province, China, in 2015. NHH invested substantial funds to develop and launch its first product, ColoClear. It debuted in an industry characterized by high barriers to entry, substantial investment requirements, and inherent failure risks. NHH managed to address the first two challenges. However, the inherent risks meant that the research and development (R&D) of this product could fail, or the product might receive a bad market response and fail to deliver satisfying financial results. NHH identified the issue as low market awareness of the benefits of early cancer screening and had to conduct market education. Moreover, one product was not sufficient to change people's mindset and bolster the company's future development. NHH expanded its product pipeline by conducting a series of financing and heavily investing in new product research before the first product could bring the company to the break-even point. However, ColoClear should generate profit to support new product development and clinical trials. Therefore, NHH pursued various commercial channels - online and physical, intra-and extra-hospital, and traditional and innovative channels. Although the company had several small wins, its founder, Zhu Yeqing, still sought a more effective channel strategy to rapidly boost sales and increase the survival rate of his new venture.

Notes:

Description based on XML content.

ISBN:

979-83-488-3371-8

OCLC:

1569208879

Publisher Number:

T299238