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Extract of sample "Salix Pharmaceuticals, Inc: Succeeding on the Road Less Traveled"
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To continue on this path, are several new areas of expansion that need to be developed. An area that needs to be considered for Salix is based on the competition that is currently in the market. When Salix began, it developed prescription drugs that were applicable during that time. Since then, new competition has emerged and other physicians and individuals have begun to find new options for gastrointestinal diseases. Even though the prescription medicines are continuing to work for patients, the combination of competition and development of new options may cause Salix to move back into the field. Analyzing new innovations, developing new drugs and looking into competition are primary concerns for Salix to continue to move forward. The second consideration of Salix is with their emergence into a global market. Since 2004, there have been several opportunities for growth that have moved through Australia, Europe and other developed countries. Even though other companies are in affiliation with the company, there is the need to continue to expand the market in the correct direction. Initially, Salix was required to have approval through the United States and by the FDA. To continue with this, there is the need to create a diversity of products that fit in at a global level. To completely expand the field, there is the need to establish a stronger base in the countries where Salix has incorporated the drugs to pharmacies while looking at unique gastrointestinal diseases that may be more diverse in other areas. Concentrating on the development of products at a global level will then begin to change the strategy of the corporation. When Salix began, the competition in the field was scarce with the drug being a leader in the field. However, there are currently competitors in the market that are in other countries. The strength of Salix is that it has taken initiatives
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