And in the process, they missed disruptive innovations that opened up new customers and markets for alternative blockbuster products.
And in the process, they missed disruptive innovations that opened up new customers and markets for lower-margin, blockbuster products.
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While this helps Apple extend its lead with these blockbuster products, we expect that some cost pressures will feed through as well.
But what these changes do, above, is substantially decrease the ability of large companies to devise and launch blockbuster products that then become a franchise.
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After years of work monoclonal antibody therapies eventually became blockbuster products.
Steve Jobs was the visionary who revived Apple and managed a breathtaking serial innovation of blockbuster products that turned Apple Inc. into the world's most valuable company.
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With that in mind, Axelrod is limiting her exposure to the sector, especially on big name pharmaceuticals like that have faced a dry spell in coming up with new blockbuster products.
Already, he says, the loss of blockbuster products like Pfizer's Lipitor for high cholesterol, the world's best-selling drug, and Eli Lilly's Zyprexa for schizophrenia, is shaping decision-making at big drug makers.
Already, he says, the loss of blockbuster products, like Pfizer's Lipitor for high cholesterol (the world's best-selling drug) and Eli Lilly's Zyprexa for schizophrenia, is shaping decision making at big drug makers.
"This group is going to lead the next advance, " predicts Berry, who points out that many companies are trading at a discount to their cash reserves and have blockbuster products in the pipeline.
Eastman Kodak, once a pioneer in traditional film cameras, ended up in bankruptcy after more than a century in business, while Corning keeps on going churning blockbuster products like the fiber optic cable and flat glass.
With no new blockbuster products until PlayStation 2, which is due to be released in December 1999 in Japan and spring 2000 elsewhere, Sony's profits are likely to be hammered further in the year ahead, especially if the American economy turns down.
Longer term, the industry is dogged by concerns that there are no blockbuster new products like the anti-cholestrol drug Lipitor to wow investors.
That left Aventis as a pure-play drugmaker whose products include Allegra, a blockbuster antihistamine, and Lantus, a long-acting form of insulin.
This makes some folk wonder if the firm has enough resources to launch on so many fronts in so little time, and if it might have to divert resources from other products, such as Zyprexa, its blockbuster drug for schizophrenia, thus leaving them more vulnerable to competition.
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So in one company, investors have a very appealing combination: the potential for blockbuster drugs, revenues from drug-delivery systems and products now on the market.
But pharmacogenomics is based on replacing the blockbuster model with one that concentrates on a larger number of narrower products -- a drug, say, that benefits only 10% of arthritis sufferers.
We see mega-blasts as Apple launches new products followed by moves toward normalcy, at least until the next blockbuster comes along.
Moreover, less than a third of new drugs these days are first or second in their class and it is hard to charge blockbuster prices for the mediocre medications and line extensions that make up the rest of the new products.
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