Pharma

In: Business and Management

Submitted By speedii
Words 380
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The key issue affecting the pharmaceutical industry is the ability of the pharmaceutical industry to remain profitable and returning a high rate of return that has been historically been so. The Pharmaceutical industry is an industry in which the entry barriers are very high as the companies in the business must spend a large amount of money on research. And the research may only yield results in some cases, only 3 out of 10 drugs recoup their costs and takes around $800 Million and 15 years to release a new drug. The companies that dominate the industry usually have dominant companies in that rely upon very few of their drugs for returning revenues. As a standing testimony, 55% of Pfizers revenues are generated from just 3 drugs ($28 billion dollars!). Whilst there are challenges of prices and new regulations, the industry offers new opportunities

3 Alternatives: 1) Research and Develop drugs in the areas of chronic care, Healthier living such as nutritional business. As people from the baby boom age grow wiser and start to look for ways to prolong life with the least bit of worries for reliance on healthcare, there is a shift in people moving for nutritional drugs.

2) Research and develop in the areas of preventive medicine, diagnostics, genetic testing. It’s an age long drug that cannot seem to go wrong. With the increase in awareness in people, there is an increase in their wanting to try newer things, Genetic and generic medicines being an example of that. People have started to want to focus their health on something that never existed earlier and getting things easier is their motto.

3) Licensing from smaller companies and utilizing vertical integration, As the smaller companies lack in sales, marketing and development, the research could be outsourced to smaller companies by large players in the pharmaceutical industry. This is the easiest…...

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