PROPECIA as a brand name for treating male pattern hair loss (MPHL) contains the drug Finasteride, which was originally developed to treat enlarged prostates. Merck, one of the top leading pharmaceutical companies in the world, was set to develop a marketing strategy for PROPECIA, which contains 1mg dose of Finasteride. Numerous clinical trials were performed to ensure that PROPECIA worked and to study side effects that may be prevalent from the usage of the drug. Approximately 83% of the participants maintained their current hair count, but there were about 66% of the males in the study that showed a visible regrowth within the first year of taking it. There were some sexual side effects shown by a few number of men and birth defects could be caused by pregnant women.
Merck traditionally manufactured drugs that were geared toward curing an ailment, not for cosmetic drugs. They have previously had products for the treatment of AIDS, elevated cholesterol, hypertension, etc. that have received over $250 million in sales in 1997. The introduction of PROPECIA, while not fitting the traditional curing ailment drug, has the potential to draw in a substantial amount of revenue. MPHL occurs in 30-40 million American men, so the potential market for PROPECIA would be at least half of the male population. However, men are usually reluctant to seek treatment for hair loss, often waiting for years. A lot of men affected are concerned about the problem, but most think of it as a future problem and do not seek treatment. The hair loss market does account for approximately $1.5 billion in annual sales that comes from one of the following solutions: hair replacement surgery, mechanical solutions, or topical int ...