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Hikma

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Hikma Pharmaceuticals: an Emerging Markets Multinational By : Radi Haloub and John Anchor Industry Background The emergence of the pharmaceutical industry, in the late 1850s, was a breakthrough during which drug makers created the slogan “You Have a Problem, We Have a Pill” (Lynn, 1993: 5). This slogan reflected that fact that the pharmaceutical business was one of the world's largest industries, in addition to being one of the most profitable ones. Since that time, developments in medicine have not ceased to continue to serve humanity and prevent diseases through manufacturing, developing and promoting medications. The industry is highly controlled by healthcare authorities and governmental regulations, due to medical and safety concerns. For example, governments and authorities obligate firms to obey manufacturing and registration laws, storage conditions, labelling and packaging, product marketing, distribution, public awareness, prescription and patenting (John, et al. 2007), and this is what makes pharmaceuticals unique at the industry level. Pharmaceutical companies are classified according to their level of investment in Research and Development (R&D): the “Principal Companies” are the companies which have large investments in R&D to produce patented drugs, whereas “Generic Companies” produce offpatent drugs. Generic drugs (Generics or Branded Pharmaceuticals) are defined by Brems et al. (2011) as off-patent drugs which are not offered by the original manufacturer (Principal Companies) and under different brand names, and they represent a substantial part of the pharmaceutical business because of lower prices, multi-sourcing and they provide access to essential medicines. Introduction to Hikma Pharmaceuticals Hikma Pharmaceuticals PLC is a multinational pharmaceutical group which focuses on developing, manufacturing, and marketing a range of both

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