Essay on Oxyglobin Launch

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Biopure, a corporation that was founded in 1984, is one of three legitimate contenders in the emerging field of ‘blood substitutes’ (2). With such a prominent position in this field, it is ideal for them to breakthrough the competition by releasing Oxyglobin, a product designed for blood transfusions in animals. Although a threat is posed from the other two companies in the process of creating human blood substitutes, Biopure is the only company that has received FDA approval for their animal blood substitute. They are also the only company to have a product within the Veterinary field. The availability and transfusion of blood is considerably more constrained in the veterinary market than it is in the human market (5), meaning that obtaining a blood transfusion for an animal is not as easy or readily available as in the human field. However, with 90% of pet owners reporting that they wanted to be made fully aware of all of the alternatives available to treat their pet; it is clearly demonstrated that these reports will prove that pet owners will more and likely pay for Oxyglobin if that is the treatment needed for their pet (10). Although veterinary doctors resort to the cheapest treatment options available, 70% to 95% would try Oxyglobin at $100 per unit which falls within Andy Wright’s ideal selling price of $80-$100 per unit. In addition to the constraints of blood transfusions in the veterinary field, such practices if needed are currently difficult and often unused. Blood donor dogs are used but most practices that conduct transfusions lacked the time and resources to properly type the donor and receipt of the blood. This lack of blood typing and cross-matching was shown to prolong the recovery of the patient animal. As a result of these negative factors, blood transfusions were a treatment of last result, with 84% of veterinary doctors reporting overall dissatisfaction (6). Oxyglobin would prove as a reliable substitute for blood and it would effectively conquer this problem of cross-matching as it is universal and does not require blood typing. With this current level of blood transfusion dissatisfaction, it is evident that the market is widely available and uncontested therefore paving a way for Biopure to take advantage of this external opportunity to market their product. Hypothetically, if the other two competing blood transfusion companies develop a form of Oxyglobin for animals they would be subject to two to five years of FDA testing. At that point Biopure would more and likely already have a monopoly upon the veterinary field and at that point Hemopure, their human blood transfusion counterpart, may have passed FDA approval resulting in its release. Despite potential unprecedented success in the animal market, Biopure’s internal weaknesses make it difficult for them to decide upon releasing the product. It is feared that Oxyglobin will be seen as virtually the same product as Hemopure and
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