Module - 1 Meaning: According to Philip kotler Service:-“any act or performance that one party offers to another that is essentially intangible and does not result in the ownership of anything. Its production may or may not be tied to the physical product.” According to leonard l.berry “Goods can be defined as objects‚ devices or things‚ whereas services can be defined as deeds‚ efforts or performances.” Characteristics of services: Intangibility: • Cannot be seen like the physical products
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forces affecting the global pharmaceutical industry? Do these forces differ by industry sector‚ and where would you place the different sectors in the industry life-cycle? Porter’s five forces help identify their attractiveness in the industry in terms of the five competitive forces which are: the threat to entry‚ the threat of substitutes‚ the power of buyers‚ the power of suppliers and the extent of rivalry between the competitors. Where the forces are high‚ industries are not attractive to compete
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Prof Dev & Res: Project Proposal and Plan Page 1 Mayur Sojitra 000594653 STUDENT NAME: MAYUR POPATLAL SOJITRA STUDENT ID NUMBER: 000594653 PROPOSED TITLE FOR DISSERTATION: Pharmaceutical Industries and CSR in India: Relationship between CSR Activities and Financial Performance of Pharmaceutical Industries Project Overall Aims and Objectives The modern base of globalisation and ethical behaviour has considerably changed the basic philosophy of Corporate Social Responsibility of any
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Historical background of the business Today Merck & Co‚ Inc. is one of the most recognizable companies in the pharmaceutical industry. When asked about Merck‚ most people think that it is and always has been a US company. However‚ the company’s history can be traced all the way back to the 1600’s where it was started in Darmstadt‚ Germany. Friedrich Jacob Merck purchased a local store in 1668 where he prepared and sold medicines. The store was called “At the sign of the Angels” and would remain
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HIGH POPULATION GROWTH RATE CAUSED BY: >High birth rate Improved health care It gives people a higher chance of survival. In African countries like TANZANIA‚ it is compulsory for all babies to be vaccinated.This vaccination protected the babies from certain disease and hence many lives are saved. It allowed women to led a healthier life‚ and hence prolong their child-bearing years. ESPECIALLY SIGNIFICANT
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PFIZER CASE The pharmaceutical industry has to continuously develop new products (patents). The different phases requested ahead a new product launch involves long gestation periods‚ and the development of a new product takes around 10 to 15 years. In general‚ most large pharmaceutical firms have a centralized R&D unit. R&D trends in Pharmaceutical industry: In the past‚ increase of R&D costs for a new drug (for one: 1975: € 150m / 1987: € 344m / 2000: € 870m 1/3 of all medicines
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Study-The global pharmaceutical industry-in the land of shrinking giants‚ Johnson‚ G.‚ Scholes‚ K.‚ Whittington‚ R.‚ Angwin‚ D.‚ and Regner‚ P. (2014) “Exploring Strategy‚ text and cases”. Publisher: Prentice Hall‚ pp.549-558. Questions: 1. Identify the main environmental forces which affect the global pharmaceutical industry. 2. Analyse the Five Forces framework to identify environmental forces affecting the global pharmaceutical industry. Do these forces differ by industry sector and where would
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| David Messer | 4/29/2013 | | David Messer Jeremy Black Business 220 April 29‚ 2013 GlaxoSmithKline GlaxoSmithKline is a U.K.-based pharmaceutical powerhouse formed by a merger in the late 90’s‚ with the most important merger being that between Glaxo Wellcome and Smith Kline Beecham. The merger created a pharmaceutical industry giant with operations in over 100 countries and annual sales over $25 billion. In the U.S. alone‚ prescription drugs account for 10% of all medical costs
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The Pharmaceutical Industry: Key success factors High profit after launching the product: Before a pharmaceutical company establishes a new product it takes them a lot time and work. The whole project‚ from the beginning until the end‚ where the medicine can be launched can last about 12 years. But once the drug is on marked the producing company has very high margins. On average‚ a Blockbuster drug is for about eight years on the marked and each year it has revenues in the range of one
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1.Intro: A pharmaceutical drug (medicine or medication and officially medicinal product) is any chemical substance formulated or compounded as single active ingredient or in combination of other pharmacologically active substance‚ it may be in a separate but packed in a single unit pack as combination product intended for internal‚ or external or for use in the medical diagnosis‚ cure‚ treatment‚ or prevention of disease. 2. History: The development of small molecule therapeutic agents for
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