BIO375H5 Midterm: Lecture 2 & 3
Document Summary
In vitro diagnostic and in vivo, this class we will focus on in vitro: e. g. Also considered as: how about devices or diagnostics? drugs, medical devices. Second category: diagnostic: first type is invitro, second type is invebro. Test your understanding: small molecule drugs (e. g. oligonucleotide-based (dna or rna) drugs) are not medical biotechnology products. Are commodity products always bad (in business context) compared to differentiated products: no. compensate the low profit margin by more quantities sold. Diagnostics: small scale companies, focus on research and development, large scale companies, special department on the below, diagnostic companies, in between small and large scale companies. Focus more on marketing and manufacturing and distribution. Generally, customers are sensitive to the price of a commodity product. Porter five forces model: if we can"t get resources from other suppliers, then we have limited choice of supplier: buyer can be payer.
