PUTNEYS SPONSORSHIP OF BABSON COLLEGE MBA PROGRAM YIELDS RESULTS

Student Research Shows 83% of Pet Owners Ready for Generics

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Putney, Inc., a pharmaceutical company focused on the development and sale of affordable, generic prescription medicines for pets, has completed its third year as a Babson Consulting Alliance Program (BCAP) partner. This year’s six member team of Babson College MBA candidates developed and implemented a market research project addressing veterinary medicine purchasing behavior. Their research results show that adoption of generics in the veterinary pharmacy strengthens the pet owner-veterinarian relationship.


The BCAP students surveyed both pet owners and veterinarians across the country to investigate key drivers of veterinary medicine purchasing decisions. Among their findings, 83% of pet owners surveyed would be happy if their veterinarian offered them a lower-priced, generic version of their pet’s medicine. The statistic mirrors adoption rates of generics in the human pharmaceutical industry, where 78% of prescriptions are filled by a generic.

Putney BCAP team members from left to right: Jaun Betanzo, Francisco Lavin, Caroline Bone, Adam Karger, Lisa Woods, Peter Russell.


Mark Biddle, Ph.D, is the John Rehm Director of Experiential Learning at the F. W. Olin School of Business at Babson College and the BCAP program director and Professor Tina Opie is the team’s advisor. 

Biddle says Putney is a valuable alliance partner who takes seriously its commitment to providing students with real business-world experience. “Putney consistently provides our students with challenging projects and professional direction, amplifying their classroom learning and allowing them to generate industry-relevant results,” says Biddle.


Jean Hoffman, president and CEO of Putney, says the BCAP program is a “win-win” proposition, providing students with business experience and Putney with fresh insights. “I’m impressed by the diligence and level of understanding these students bring to their projects. The results of their research quantify our message to veterinarians—that generic pet medicines improve practice revenues and increase client satisfaction,” says Hoffman.



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About Putney

Putney is a pharmaceutical company committed to providing high quality, cost-effective generic medicines for pets. Putney’s reliable supply of affordable drug options empowers veterinarians, allowing them to provide the best possible medicine at the best possible price, and supports pet owners, helping them afford to comply with veterinary recommendations. Putney’s ongoing investment in research and development is focused on creating the next generation of generic veterinary products based on inputs from companion animal veterinarians and its industry partners. Learn more at www.putneyvet.com.

Babson College in Wellesley, Mass., is recognized internationally as a leader in entrepreneurial management education. Babson grants BS degrees through its innovative undergraduate program, and grants MBA and custom MS and MBA degrees through the F.W. Olin Graduate School of Business at Babson College. Babson Executive Education offers executive development programs to experienced managers worldwide. For information, visit www.babson.edu.

 


By Michael Chmura, mchmura@babson.edu, 781-239-4549 | 05/24/2011 06:00