SWOT Analysis on the Internal and External Environments relevant to Essay - 1

SWOT Analysis on the Internal and External Environments relevant to Allergan pertaining to their Botox Product - Essay Example Allergan has been into discovery of innovative products the like of Botox,and marketing them through prescription by doctors in the specialty markets for a long time. It boasts of a research & development wing involved in discovering and producing specialty segment products such as BOTOXÂ ® Cosmetic, which is a prescription medicine that is injected into face muscles for improving the look by reducing or fully eliminating frown lines between the eyebrows in people in the age group of 18 to 65 years temporarily. SWOT Analysis Internal – Strengths Botox not only removes frown lines but is equally effective in other many ailments such as in treating migraine headaches, chronic neck and back pain, sweating overly, and probably spastic disorders also. Allergan internal strengths are many. Its 8000 employees worldwide are its major strength. Allergan has reached to its current customers via its vast network of workforce. R& D investment in the making of the product i.e. Botox has b een the internal strength of the company and the product both. Being a multispecialty healthcare company into discovering, developing and commercializing pharmaceuticals, biologics and medical devices, it is deeply rooted into manufacturing of specialty products such as Botox, which has brought it to the front runners’ line by capturing a niche market worldwide of its customers belonging to all walks of life. Botox being an innovative product, it is comparatively safe from generic erosion, as the medicinal formula of developing the medicine is a well-kept secret, which insulates the medicine from being sold by copying the drug development process. Internal – Weaknesses Botox is not a fully safe drug, as it paralyses facial muscles to the point beyond the earlier natural condition of the muscles where they can no longer react to outside changes emerging from symptoms such as age, use and wear. Forehead muscles can’t express emotions like anger. The community of a ctors and stars, mostly habitual to using Botox can no more show their emotions above the eye through acting. An emotionless face can transform humans into zombies. Botox has a number of side effects like drooping eyelids, drooling mouth, and slurred speech. These side effects are quite serious in nature affecting the personality of a person. Some temporary side effects such as nausea, allergic reactions, headaches, respiratory infections, flu symptoms, and redness and swelling around the injected area could be visible in some or all patients for a short duration. Another weakness of the medicine is that its impact on the related area is not permanent. The treatment remains effective only till six months of taking the Botox injection. It is a very costly treatment and is effective for a short duration compelling consumers to visit the clinics in regular intervals to maintain their visage. External – Opportunities Sales opportunities have increased greatly. Botox can be market ed globally through advertisement to the probable users for cosmetic uses of the product; earlier permission to advertising the product was not granted. Latest fashion trends provide a boost to the sale of Botox, as the product has become very popular in high profile society. Advertisement in the TV and popular magazines has increased the sales of Botox significantly as on an average a person views such ads 10 times a year. Ophthalmic market offers huge business potential for sale of Botox. Dermatology is another area where Allergan has opportunities waiting as use of Botox in dermatology provides possibilities of expanding by acquiring new formulas or by buying licenses from foreign producers, as it is relatively more cost-efficient than developing through R & D. The company can leverage through spending on marketing efforts from the revenue earned in dollar on other products to fight competition. Huge sales opportunities exist in primary segment