An exploratory study on the impact of Covid-19 on the OTC branch of Sanofi on the Hungarian market
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| Format: | Thesis |
| Kulcsszavak: | commerce Covid-19 Hungary OTC market Pharmaceutical industry |
| Online Access: | http://dolgozattar.uni-bge.hu/43325 |
| Abstract: | The COVID-19 pandemic has had a huge impact on our lives and has altered the operations of nearly all sectors. Nations’ strategic management and macroeconomic structure were and are still up against several obstacles. The pandemic has had a particularly negative impact on manufacturing production, which has been characterised by supply disruptions, declines in demand, and general recession. The ones who were hurt the hardest, though, are individuals who depend on social connections or travel. Countries relying on the hospitality industry faced a huge economic downfall but other sectors could thrive in this newly formed circumstance. One of the most affected industries that could additionally use the situation as an advantage is the pharmaceutical industry. Companies have already been searching for novel compounds in order to compete with the recently emerged competitors and their generic goods. On account of the fact that multiple big pharma firms started developing vaccines for Covid-19 as soon as the virus began to spread supports this claim. Nevertheless, other branches of pharma firms were pressured to make adjustments as well, with the aim of meeting the changing needs of the highly concerned customers and patients. The ‘over-the-counter’ (further referred to as ‘OTC’) market was significantly affected as these are the medicines that people are allowed to purchase without a description from a doctor, and the appearance of the virus drove people to start ‘panic-shopping’. This behaviour of stockpiling products also affected commercial units, and there have been multiple out-of-stock situations in the case of basic food items. As soon as the first restrictions were announced, and people found out that shops would be closed, they started buying essential food products as well as pharmaceutical products, in case they could not leave their homes. The situation made everybody scared and anxious as months of uncertainty were to follow.In the research, I wish to further explore and assess the consequences of the Covid-19 pandemic on this market, specifically focusing on its effects on Sanofi’s over-the-counter branch, called Sanofi CHC. |
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