Nobody downloaded yet

Strategies in the Pharmaceutical Industry - Literature review Example

Comments (0) Cite this document
Summary
The author of the current literature review "Strategies in the Pharmaceutical Industry" highlights that the development of drugs consists of several phases. Not all drugs are expected to complete the whole process, i.e. certain of the drugs will be excluded from the drug pipeline…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.1% of users find it useful
Strategies in the Pharmaceutical Industry
Read TextPreview

Extract of sample "Strategies in the Pharmaceutical Industry"

Download file to see previous pages The exclusion of a drug from the drug pipeline can take place anytime up to the last part of the drug development process; for example, even if a drug has been made available to the public the firm involved can decide to withdraw the drug from the market (Nishimura et al. 2009). A drug that is proved to have severe side effects that had not been identified in the pre-clinical or the clinical testing is an example of the above case.
Firms operating in the pharmaceutical industry could secure the success of their New Product Development process by employing the ‘Critical Success Factors approach’ (Schuh et al. 2012, p.3). The specific approach promotes the idea that the chances for the success of a business strategy can be significantly increased if the strategy is designed based on a series of factors (Schuh et al. 2012). These factors, as presented in Figure 1a, can affect the design of the business strategy at lower or at a higher level depending on the industry involved and the conditions in the business environment (Schuh et al. 2012). In any case, the use of these factors could help a pharmaceutical firm to secure the competitiveness of its new products, as possible (Schuh et al. 2012).
On the other hand, Figueiredo and Loiola (2012) explain that a drug development process is characterized by the continuous exchange of ideas; during the process, many of these ideas are rejected while news can also appear. However, because the issues that need to be taken into consideration during the particular process can be many it should be wise for the managers working on such projects to screen each stage of the process as carefully as possible (Figueiredo and Loiola 2012, p.21). The economic aspects of drugs, as reflected in their Net Present Value (NPV), should be also taken into consideration by managers when developing a new product. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Strategies in the pharmaceutical industry Literature review”, n.d.)
Strategies in the pharmaceutical industry Literature review. Retrieved from https://studentshare.org/business/1654552-strategies-in-the-pharmaceutical-industry
(Strategies in the Pharmaceutical Industry Literature Review)
Strategies in the Pharmaceutical Industry Literature Review. https://studentshare.org/business/1654552-strategies-in-the-pharmaceutical-industry.
“Strategies in the Pharmaceutical Industry Literature Review”, n.d. https://studentshare.org/business/1654552-strategies-in-the-pharmaceutical-industry.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Strategies in the Pharmaceutical Industry

The US Pharmaceutical Industry

...?On the US Pharmaceutical Industry The United s pharmaceutical industry can be considered as a highly competitive market. This is demonstrated through several factors that collectively lead to its positive performance such as market trends, profit and productivity. Ultimately, the competitiveness of the industry is fundamentally ensured by the fact that it relies on research and development as well as innovations that is why attempts at regulation would seriously hamper its performance. This point is demonstrated in the manner by which the US pharmaceutical industry dominates global stage. The US...
3 Pages(750 words)Essay

Pharmaceutical industry: pain relievers

...that are evident in the sector. Market Structure The pharmaceutical industry is made up of many competing firms based on the free entry and exit strategy. In addition to the independence that exists in the industry, pharmaceutical companies in various parts of the world can sell their products in any market at different prices. As compared to other countries, Berndt and Newhouse (2010) argue that US firms sell their products at high prices – an aspect that has resulted in smuggling of cheap drugs from other areas such as Canada to US. The performance of the industry in US has been outstanding. However, as a result of the economic...
4 Pages(1000 words)Research Paper

The Global Pharmaceutical Industry

...The Global Pharmaceutical Industry Introduction The global pharmaceutical industry is characterized by lengthy and risky research and development process, powerful purchase pressures, stringent government regulations and high competition for rational property. The global pharmaceutical industry has significantly contributed to the human civilization for the welfare of mankind. The study will describe how internal and external environment forces have affected the industry (Maclennan, 2004, p.11). In order to determine the issues, PESTEL Analysis and Porter’s Five Force Analysis have been implemented in the study. Finally,...
6 Pages(1500 words)Case Study

Global pharmaceutical industry

...Alpharma Inc. is one of the giants in the global pharmaceutical industry. The company provides health safety medication and life saving drugs to the people around the world. The company does not only develop the pharmaceutical products, but also manufactures them and market them to make them available in most parts of the world. Due to the every increasing cost and expenses that adversely affected the company's profit margin, even though the company was having substantial increase in turnover and revenues, the management decided to launch a workforce reduction program in the year 2003. As mentioned in the company's annual report (2003, p21), "In the fourth quarter of 2003, the...
10 Pages(2500 words)Essay

Pharmaceutical Industry

...side effects (EMEA 2006). Other issues include the rights and safety of the study subjects, the duration of the clinical trial, the appropriateness of the facilities at the intended site, the experience and qualifications of the study investigators and staff, the administration and manufacturing of the study drug, the procedures for monitoring safety in terms of serious adverse events, the provisions for informed consent and the use of financial incentives References ABPI (2006), The Association of British Pharmaceutical Industry, Clinical Trials, http://www.abpi.org.uk. Last accessed 28 June 2006. EMEA (2006), The European Medicines Agency, http://www.emea.eu.int/pdfs/human/swp/9185006en.pdf. Page...
2 Pages(500 words)Essay

The pharmaceutical industry

...The Pharmaceutical Industry: 2. After 2002, the profitability of the industry, measured by ROIC, started to decline. Why do you think this occurred? There are several reasons for the decline in profits for pharmaceutical companies after 2002. The foremost among them is the aggressive competition for market-share seen in the generic drug sector. It is well-known that once pharmaceuticals lose patent protection over their proprietary drugs the prices tend to fall drastically – as much as 80%. With companies losing patents over blockbuster drugs without adding new drugs to their repertoire, the profits are bound to fall. Then there is the negative...
2 Pages(500 words)Essay

Pharmaceutical Industry Critisizm

...The pharmaceutical industry is one of the largest and most powerful industries in the world. In 2009 the pharmaceutical industry generated $837 billion in revenues worldwide (Plunkett Research, 2011). The industry serves a critical role in health care because the drugs they develop are prescribed by doctors to treat thousands of potential illnesses. It is very common for the general public to criticize the pharmaceutical industry and its participants. A common criticism of the industry is that it charges too much money for the drugs it sells. For instance the...
2 Pages(500 words)Research Paper

Pharmaceutical Industry

...Medicare and the Relative Risks to Both Insurer and Hospital The United s has a complex healthcare system that focuses on reimbursement for services already provided and expenses that have already occurred (Casto & Layman, 2006). Unlike standard business models, patients frequently leave the hospital already treated, but without paying for the service (Bodenheimer, Wagner, & Grumbach, 2002). This means that the hospital needs to have a way of getting the money for the services and expenses that they have incurred. This is generally done through reimbursement systems that rely on patients having health insurance (Casto & Layman, 2006). Insurance companies work by charging a premium for people to use their service... and the Relative...
2 Pages(500 words)Research Paper

Pharmaceutical Industry

...Pharmaceutical Industry We can define the pharmaceutical industry as the industry that discovers, develops, makes, and sells various licensed drugs and medicines that apply in the medication of distinct disorders or ailments (Laws.com, 2013). The pharmaceutical industry entails pharmaceutical companies that have the authority to deal with a wide variety of generic and brand drugs and medicines and medical devices (Laws.com, 2013). Subject to the significance of medical sector and the potential side effects and potential dangers associated with medicinal drugs produced in this industry,...
3 Pages(750 words)Essay

Counterfeit Pharmaceutical Drug Industry

...pharmaceutics usually relies on national governments and legal institutions not ordinary people personally (Burns, 2006). In other words, counterfeit combat is above all a political battle. In this context, the analysis of regulation in this sphere is based on interest group theories (Baldwin et al., 2012, p. 43-49). Thus, issue of making regulation more effective is crucial for the medical sphere in general and counterfeit combat in particular, because it has social consequences and political nature. 2.2. Defining key notions in counterfeit drug industry regulation At the very beginning, the object of counterfeit regulation is blurring. In general, there is no definition of counterfeit drugs, common...
13 Pages(3250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Literature review on topic Strategies in the Pharmaceutical Industry for FREE!

Contact Us