...INTRODUCTION Pharmaceuticals industry has a key role in manufacturing and developing new vaccines and drugs with an objective to improve life and prevention of diseases. Pharmaceutical industry have involvement in research and development, dealing in research and generation of new drugs, bulk manufacturing involving production of already existed drugs and in marketing. In spite of the fact that pharmaceutical industry is subjected to high risk and challenging business conditions as compared to any other industry. It has made tremendous contribution in improving global health. (IFPMA, 2012) “ Pharmaceutical industry spends more on research and development, relative to its sales revenue, than almost any other industry in the United States. According to various estimates, the industries’ real spending on drug R&D has grown between threefold and six fold over the past 25 years and that rise has been closely matched by growth in drug sales”(CBO, 2006). The research and development based pharmaceutical industries invest billions of dollars for development of a single drug and on an average the annual spending by the pharmaceutical industry is five times greater than that of the aerospace and defense industries, 4.5 times more than that of the chemicals industry, and 2.5 times more than that of the software and computer services industry”(IFPMA, 2012). IMPACT ON GLOBAL HEALTH & ECONOMY Pharmaceuticals research and drugs showed a remarkable performance in...
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...The pharmaceutical industry has had to adjust their marketing strategy due to the 1984 Food and Drug Administration (FDA) legislation regarding drug patent protection. Traditional market strategy has also been affected by the changing face of the consumer. Drug companies have begun advertising to consumers. In the past, marketing strategy centered on marketing to doctors. The doctors were provided samples which they made available to patients. The nonmarket environment has affected the efficiency of the pharmaceutical industry. Consumers are more knowledgeable and they have more access to means of communication than they have in the past. Pharmaceutical companies are marketing their products to a consumer group that is more aware of ailments and the benefits of pharmaceutical treatment. Pharmaceutical industries traditional marketing plan includes providing samples of medicines to doctors. The industry also provides auxiliary office items (such as pen and personalized stationary) to medical professionals. The successful national and international sale of these samples funds the development of new pharmaceutical products. It is a cycle that must be completed due to the nature of selling doctor prescribed pharmaceutical products. Because of stringent oversight of the Food and Drug Administration, the pharmaceutical industry spends millions of dollars on research. Tang (2013) notes, on average developing a new drug has become increasingly expensive, time consuming and risky (p...
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...CASE TEACHING NOTES The Global Pharmaceutical Industry Sarah Holland (Manchester Business School) and Bernardo Bátiz-Lazo (London South Bank University) 1. Introduction The case describes how the prescription pharmaceutical industry has changed since its modern beginnings in the early 1950s. The various forces affecting the competitive environment of the industry are discussed in terms of origins, immediate past and immediate future (2004 onwards). As a result, the note provides insights into the evolution of barriers to enter and exit the industry for prescription pharmaceuticals, while aiming to help students to recognise how to set boundaries for an industry. This is a detailed industry note on the “ethical” pharmaceutical industry which provides an opportunity to analyse key success factors of major players. The note centres on a descriptive overview of the predominant issues in the three major Triad market areas: the US, Europe and Japan (although major issues in emerging markets are also mentioned). The note covers the overall industry environment with in-depth discussion of the driving forces in the industry such as globalisation (in particular global regulatory issues, changing world demographics and worldwide pricing disparities); development of new technology; the importance of time to market; and amalgamations. The case also examines issues around corporate social responsibility. 2. Position of the Case The pharmaceutical industry case study lends itself...
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...Pharmaceutical prices in the United States of America are among the highest in the world. To this day, prescription drug prices are one of the only facets in healthcare that remain up to the manufacturer to determine. There is no regulation by the United States government or any healthcare entity in America that is preventing large pharmaceutical companies from driving up costs for profit potential. Pharmaceutical companies argue that this high cost is to help maximize research and development efforts. While the United States accounts for roughly 5% of the world’s population, 36% of pharmaceutical research and development stems from American-funded pharmaceutical companies. According to these companies, prices must remain inflated in order...
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...Pharmaceutical Advertising Pharmaceutical advertising, which dates back to the 18th and 19th century, conveys a message to consumers in which medication can relieve just about any ailment. Today, these ads are everywhere. They exist on billboards, television, radio, the newspaper, magazines, and the Internet. Direct-to-consumer marketing (DTC) almost challenges the individual to question whether or not he or she has a medical issue. This is synonymous with selling an illness and not a remedy. Pharmaceutical advertising and marketing among health care providers remains questionable in terms of ethical practices. Pharmaceutical representatives promote their medications through a commonly known marketing strategy, which involves the use of gifts to entice or persuade the health care provider. These gifts involve pens, pads, lunch, dinner, and luxurious trips. Effective advertising and marketing should promote a product that gains the interest of an individual without question. Advertising, mainly in the form of pharmaceuticals should not be misleading and should not insinuate that common occurrences produce a medical problem. The History of DTC Marketing Originating in the 18th and 19th century, DTC marketing deluded consumers through misleading and falsified advertising. Moving on into the 20th century, “pharmaceutical ads accounted for nearly half of newspapers’ advertising revenue” (Huh, DeLorme, Reid, & Soontae, 2010, para. 3). The Pure Food and Drug Act became a law in...
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...real threats for Pharmaceutical industry as these movements focus on green environments and reduce chemicals and carbon which comes from pharmaceutical industries. It is not being possible to ignore these issues as they are supposed to be practiced under United Nation charter for clean and better environment. For example Pfizer is a well reputed British Pharmaceutical company which has aims to save the environment as much as possible from chemicals, waste water which includes active pharmaceutical ingredients mixture of different compounds and carbon which comes from their pharmaceutical industries. Different strategies could be used to reduce carbon and chemical waste from drugs for human environment, like proper consumption ,good way of savages for hospitals waste water like advance waste water treatment technology, private house hold expire drugs, training and education of medical professionals to reduce over prescription, and public education and awareness. These strategies could be help full for save green house environment from drugs. In conclusion if we do focus on three principal strategies to reduce the input of chemicals compounds, carbon, and waste water in to the environment are substitution of complex chemical compounds, advance technical approach, and proper education and training of doctors, retailers and consumers. (Klaus Kümmerer, 2009) Social The social life, physical activities and level of health of a community affects the pharmaceutical industry. Change...
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...Cooper Pharmaceuticals, Inc. | SLMT – 1 | Group – 7 | 13109 | Ankita Murali | 13141 | Raja Yakkala | 13508 | Arka Sinha | 13605 | Ankit Khurana | | PROBLEM STATEMENT The decision of Cooper Pharmaceuticals, Inc. (CPI) on terminating the services of Bob Marsh, a detailer who had twelve years of experience with their company and also had an unmatched rapport with many physicians and hospitals in the geographical territory assigned to him. ENVIRONMENTAL SCAN The Pharmaceutical industry witnesses a cut-throat competition with major brands having a hold over the industry. This industry utilized a sales force of detailers who played a major role in their sales. Their job was to persuade medical personnel to use and prescribe certain drugs. A typical CPI was responsible for about 200 physician and hospital accountants within an assigned geographic territory. CPI was a major manufacturer of prescription drugs for medical and dental professions. These products were channeled through drug wholesaler and then the drug stores for reselling to the general public. SWOT ANALYSIS ON MARSH Strengths: 1. Quick learner 2. Good people skills 3. Friendly nature with the customers Weaknesses: 1. Poor organizing skills 2. Poor planning skills 3. Poor attitude 4. Lack of enthusiasm 5. Lack of sincerity 6. Low knowledge of technical and promotion literature 7. Low reliability Opportunity: Bon Marsh had run successfully drug store and...
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...INT Pharmaceuticals 1. How many kilograms of basic interferon does the Medications Division request under the current variable-cost transfer pricing policy? How many kilograms does the Production Division sell into the outside market? What is the firm’s profitability (you can answer this question ignoring fixed costs, but make sure you understand why you can ignore them)? Based on the details provided on page 5 of the case write-up, in the section detailing the required inputs for Scintron manufacturing, there are estimated sales of Scintron of 40,000,000 units. In the paragraph directly above this breakdown, we are informed that it requires 0.9 kilograms of the basic interferon to produce 10,000 units of Scintron. With this knowledge in hand, we know that 3,600 kilograms of the basic interferon will be requested by the Medications Division under the current variable-cost transfer pricing policy. Considering the 5,440 machine hour practical capacity of the Production Line provided on page 2 of the case, and the 1 hr of machine time per 1 kilogram requirement provided on page 3, this leaves 1,840 kilograms of the basic interferon to be sold to the outside market. Given these figures, and ignoring fixed costs, INT Pharmaceutical’s profitability is 96.84M€ as detailed below. 2. Evaluate Ms. Heinz’s claim. Estimate the change in INT’s profitability if the firm sets the transfer price equal to the outside market price for commodity interferon. While the Medications...
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...What is a Pharmaceutical Apprenticeship? Pharmaceutical Apprenticeships help Pharmaceutical Apprentices receive training to work towards nationally recognised qualifications for Dispensing Assistants and Pharmacy Technicians. Level 2 Intermediate Apprenticeship for Dispensing Assistants On successful completion of this course you will gain the following qualifications: • • • • Level 2 Certificate in Pharmaceutical Science (QCF) Level 2 NVQ Certificate in Pharmacy Service Skills (QCF) Level 1 Functional Skills: Maths Level 1 Functional Skills: English Course Structure Pharmaceutical Science (QCF) There are 6 units to complete for this course: • • • • • • Communicating with Pharmacy Clients Law, Regulations, Legislation & Health & Safety in Pharmacy Working in the Pharmacy Team & Industry Receiving, Storing & Maintaining Stock Processing Prescriptions Safe Assembly Prescriptions Pharmacy Service Skills (QCF) There are seven units to complete for this course: • • • • Ensure Your Own Actions Reduces Risks to Health & Safety. Meeting Client’s Needs, Receiving & Assembling Prescribed Items. How to Order & Receive Pharmaceutical Stock Team-work in Pharmacies Functional Maths & English Level 1 These skills tests will be taken alongside your Apprenticeship to make sure that you have a good understanding of Maths and English which is essential to future job success. For more information contact Pathway Group on 0800 955 0870 or 0121 707 0550 or visit...
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...Pharmaceuticals have been around since early 2000 B.C. Since then, the drug market and its vendors have definitely skyrocketed. Pharmaceuticals are regulated by the Food and Drug Administration’s (FDA) Center for Drug Evaluation and Research (CDER) and steps are required to bring new drugs into the market. FDA specific guidelines for new pharmaceuticals are essential because it determines a drug’s safety and effectiveness. To support this thesis an overview of steps required to market a new pharmaceutical will be discussed as well as human testing of drugs, the role of FDA in approving new drugs, and the cost incurred by drug companies when developing new drugs. Pharmaceutical development can be divided into segments. The first segment is the preclinical phase; this is where the drug company attempts to breakdown a disease process into components so it can provide clues for targeting new drug development and usually takes three to four years to complete (Lipsky & Sharp, 2001). Once a new drug has been chosen and developed, the FDA requires that animal tests be performed. In vivo testing, typically done to rodents, demonstrates the safety of the prospective medication and also to notes and evaluates any side or toxic effects, addictions, cancerous tumors, and/or fetal deformities (Turley, 2010, p. 27). The results from the animal studies, indicating no risk to humans, will then be used to support the investigational new drug application (IND) to the FDA to request permission...
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...Course Project: Merck Pharmaceutical Sydney Momoh Tanika Thomas PM587 Prof. Susan Orr June 9th, 2012 Table of Contents 1.0 Introduction of Merck Company………………………………………………………..…..3 2.0 Organization Strategic Plan………………………………………..…………………………3 • Sustainability of loyal customers and employees • Change to meet customers demand • Growth will strengthen the company through acquisitions ……………………….4 3.0 Strategic Capacity Plan………………………………………………………………………4 4.0 Portfolio Management Process……………………………………………………………...5 • Capital Structure of Merck Group…………………………………………………6 5.0 Portfolio Selection Criteria …………………………………………………………………7 • Serono • Millipore • Integrated Chemicals 6.0 Program Management Plan ………………………………………………………………...8 7.0 Plan to Identify and Resolve Conflict ……………………………………………………..10 8.0 Change Management Plan …………………………………………………………………11 9.0 Resource Utilization Plan ………………………………………………………………….11 10.0 Reference Page …………………………………………………………………………….12 Introduction: We found pharmaceutical companies to be better fit for our project. This industry touches each person on this planet in one form or another and the work they are conducting in search of making every ones live healthier and live longer than our fore fathers. When we stacked up all pharmaceutical companies, we found Merck Corporation to meet all of the criteria that we were looking for in a pharmaceutical industry. Merck have conducted many projects concurrently during drug developments...
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...Teva Pharmaceuticals LTD Clinton Stucker American Military University Abstract In this paper we will discuss the competitive advantage of Teva Pharmaceuticals as well as Teva’s resources to continue to grow and remain dominant within the pharmaceutical industry. As industries evolve it is important for companies to evaluate their strengths and weaknesses in order to maximize their potential to succeed. In this paper we will evaluate Teva’s greatest strengths and resources that will enable the company to continue to grow and compete within the generic drug industry. This paper will be a guideline for how Teva should move it company forward in the future. Introduction Teva pharmaceuticals is known for its operational efficiency within the generic pharmaceutics industry. Information gathered from TevaPharm.com provides a clear picture of how the company is so successful within the pharmaceutical industry; Teva pharmaceuticals operates globally within sixty countries and consists of fifty four pharmaceutical production plants. The Teva company is a global industry that maintains a completive advantage as “During 2012, Teva's plants manufactured approximately 73 billion tablets and capsules and over 720 million sterile units (Tevapharm.com)”. Teva’s Competitive Advantage The Teva pharmaceutical company enjoys a serious competitive advantage within the generic pharmaceutical industry. Their biggest advantages include their operational expertise as well as their immense...
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...In recent years pharmaceutical companies have paid billions of dollars in settlements for marketing fraud and kickbacks, leaving the physicians untouched. Physicians are profiting through payments from drug companies or they receive a cut of a company’s off-label marketing design. Physicians are obtaining these kickbacks because they are prescribing prescriptions that are not needed by the patient. Many lawsuits happen by previous workers of large organizations claiming the legal tender is made use for unlawful purposes; monetarily compensating physicians for prescribing their label medicine (Ornstein & Weber, 2011). In turn the physicians are putting patients at risk by using the drugs for unapproved illnesses. This frequent scenario most...
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...Q1. Identify the main environment forces currently affecting the pharmaceutical industry. PESTLE analysis is used to help the organization to understand what is the current status of the organization and the external factors that are affecting it, whereas this also helps the management of the organizations to overcome the weak areas organizations by implementing the strategy for the future. Political The policies of the government had a great effect on the regulations and legal issues that defines both formal and informal rules for the industries innovations as compared to the other factors in the form of “parallel trade” as the attention of the industry was an increase in the economic importance’s where the government offered incentives that encouraged the industry to globalization as they focused on pharmaceutical industry to handle the challenges of price control, monopoly and trade. Overtime this led to a wide disparity in prices that exposed the industry to sensationalist newspaper headlines and consumer backlash. Economic The sales in the pharmaceutical related closer to the GDP due to the effect in interest, taxes, inflation and exchange rates that layered down the established market growth in emerging the market for the power of the payers as decision makers. The change that could also affect the foreign currency can also affect the export and imports of the drugs. Patents in other countries pay a lot for the proportion of drug cots themselves that leads to...
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...This report is to be submitted as "2008 Korea Pharmaceutical Industry Directory" as part of the "Actual analysis of Korean pharmaceutical Industry", Korea Health Industry Development Institute(KHIDI)'s own project. December 2008 ￭ ￭ ￭ • ⅰ Chapter 1. Outline of The Project 1. Objectives and Background of Investigation ◦The existing directory book has indicated limitations in promoting Korean pharmaceutical industry internationally or domestically, failing to offer practical help. ◦For this reason, this investigation is to have a thorough grasp of ranges of business and current status of investments and technology by pharmaceutical and companies to utilize and in to strengthen their industrial by competitiveness promoting them overseas collecting and offering basic data needed for promoting transfer of technology with home and abroad institutions. ◦Also, necessity for systematic and detailed data of industrial current status that can be utilized by companies who are making commitment for the development of pharmaceutical industry. 2. Targets and Contents of Directory Book 1) Targets for directory book •Korean Pharmaceutical companies: 81 companies. 2) Contents of directory book •Investigation items 3. Method and Way for Utilization 1) Method □ Ways to select investigation targets and to promote them were developed through consultation from consultation committees and domestic pharmaceutical companies (including unlisted ones) ◦Investigated...
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