The global pharmaceutical industry 1. Identify the main environmental forces currently affecting the global pharmaceutical industry. The PESTEL analysis can be used to identify the main environmental forces for the industry: Political • Stringent government regulation and powerful purchaser pressures. • Governments around the world focused on pharmaceuticals as a politically easy target in efforts to control rising healthcare expenditure. • Inter-country pricing disparities. Economic
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Table of Contents Table of Contents i Introduction 1 1 Definition of The Pharmaceutical Industry 1 2 Environmental Analysis 2 2.1 Legal Issues 2 2.2 Political Issues 2 2.3 Economic Issues 2 2.4 Social Issues 2 2.5 Technological Issues 2 3 Forces of Competition 3 4 Value Chain 4 4.1 Discovery 4 4.2 Production Development 4 4.3 Manufacturing 4 4.4 Marketing 4 5 Role of Information Systems & Technology 4 6 GlaxoSmithKline 5 7 United Drug 6 7.1 Company Overview
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Industry overview Pharmaceutical sector is an important industry of any modern day economic power. Pharmaceutical industry in India has a very humble past. After independence‚ development of pharmaceutical industry was one of the top agenda of government along with steel and manufacturing industry. The market was protected against competition for a long period of time by giving incentives to small firms‚ license-raj etc. Today the Indian pharmaceutical industry is the front-runner science-based
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RFID in Pharmaceutical Industry In 2004‚ US Food and Drug Administration (FDA) has called for the implementation of RFID technology to track the distribution of prescription drugs in order to protect the medical supply chain from counterfeit drugs by 2007. Initially‚ California State Board of Pharmacy has mandated RFID technology but later extended implementation date until 2015. In 2007‚ Kalorama Information predicted in a report that market for RFID solutions in pharmaceutical industry would
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Specify the types of country risks that pharmaceutical firms face in international business. How do the political and legal systems of countries affect the global pharmaceutical industry? The different types of country risks for the pharmaceutical firms are: 1. Pricing: Many Asian and African countries are poor and cannot afford the costly medicines. The Pharmaceutical firms spend vast amounts on R&D in creating and marketing drugs‚ thus charging high prices enables for cost of
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The Global Pharmaceutical Industry In the pharmaceutical industry market segments can be found depending on the criteria used. For example‚ geographically there are three main market segments (the Triad accounting for 80% and with the strongest growth): The United States of America‚ Europe and Japan with the main future segment being the least developed countries. Another way of classifying the market segments that the pharmaceutical industries face is by those products directed to primary care
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Bangladesh Pharmaceutical Industry By Sarker Imran‚ RRU‚ BC‚ Canada | | There are several sectors on which Bangladesh can be proud of and undoubtedly the pharmaceutical sector is one of these sectors‚ rather it is the sector‚ which is the second-largest contributor to the government exchequer. There are about 231 companies in this sector and the approximate total market size is about Taka 76‚500 million per year of which about 97% of the total requirement of medicines is created by the
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analyze customer’s competitive environment effectively. The five forces are the bargaining power of suppliers and buyers‚ threat of new entrants‚ substitutes and rivalry. These five differentiations are affecting the profit from the industry and also the potential change of a company. Such as to ensure a company have a good relationship with their suppliers or avoid new entrants to decrease their profits and all. Everything has its good and bad‚ it depends on how the company manipulates the 5 forces
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Questions 1 through 7 1. On balance‚ do you think Merck is an ethical and socially responsible company? Why or why not? How about Pfizer? In my opinion‚ Merck is not an ethical and socially responsible company with introducing Vioxx into pharmaceutical market. Before the Vioxx approval by FDA‚ scientists from University of Pennsylvania found that the drug could bring some serious results such as cardiovascular‚ and there were many serious cardiovascular problems during testing on patients. However
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Ethics in the Pharmaceutical Industry The pharmaceutical industry started in the middle Ages‚ 18th AD in Baghdad in 754 by an Arabian. Until the early 70’s the industry grew at a small pace. In the 1970’s business began to boom and competition began to upsurge. In the 1990’s these industries and companies became more aggressive with their marketing strategies. In ’97 the U.S. Food and Drug Administration brought new rules and regulations concerning the marketing area and it required companies to
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