INTRODUCTION
The pharmaceutical industry is that part of the healthcare area which deals with medications. It comprises different subfields pertaining to the discovering, developing, producing and marketing of medications. They deal in generic or brand medications and medical devices such as thermometers, syringes, nebulizers, and many more along with providing services such as lab testing.
The pharmaceutical industry is driven largely by profits and competition and functions just like any other industry. It has raw materials manufacturers, finished goods manufacturers, Research and Development (R&D) companies, marketing companies, and consumers. This sector, more than any other industry, is highly dependent on its R&D segment. Also, understanding
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Indian Pharmaceutical industry is ranked 3rd globally in volume and 14th in value, supplying 10 % of global production. The Indian pharmaceuticals market witnessed growth at a CAGR of 5.64%, during 2011-16, with the market increasing from USD 20.95 billion in 2011 to USD 27.57 billion in 2016. Figure 1: Revenue of Indian Pharmaceutical Sector (IBEF, 2017)
India is likely to be amid the top 3 pharmaceutical markets, by 2020, as a result of incremental growth & 6th largest market globally in absolute size. The industry has a large part of its revenues coming from exports. India exports pharmaceutical products to more than 200 countries. The Indian government has come out with its policy document - 'Pharma Vision 2020', which targets to make India as a global leader in end-to-end drug manufacture.
The leading five Indian players by sales (INR Billion):
Company Name Net Sales (Rs. Cr)
Cipla
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This is not only because of the low-cost manufacturing, operations and research base but due to a combination of additional factors such as process improvements in manufacturing API (Active Pharmaceutical Ingredient), faster recruitment process for conducting clinical trials, availability of skilled manpower and developed regulatory skills. With, extremely competitive market, low costs and only process patents till recently, Indian companies have technologically advanced expertise in process innovation. The above factors have resulted in India producing low cost good quality products, which have spurred exports of Indian products to international markets, especially to the higher regulated markets like USA and Western Europe. Of the main export varieties, formulation and API sales are the major portion.
INDIA’S EXPORT OPPORTUNITIES
Figure 3: Trade Data of Indian Pharmaceutical Sector (IBEF, 2017)
Indian pharmaceutical companies are taking advantage of Indian pharmaceutical sector’s export opportunities in regulated & semi-regulated markets. In FY16, India exported pharmaceutical products worth USD16.89 billion, with the number expected to reach USD 40 billion by 2020.
Indian drugs are exported to over 200 countries in the world. With the US as the key market, India is the world’s largest provider of generic medicines; the country’s generic drugs account for 20% of global generic drug exports (in terms
Many believe that the FDA has financial reasons for allowing a drug to be on the market. In 2006, a study found that” in 22% of advisory board meetings, more than half the members had direct financial in the companies whose medial products they evaluated or their rivals”. The FDA’s advisory boards should not be able to vote on companies that they have financial ties to. The FDA says they do the best they can to create an unbiased board, but it is difficult to find “top medical experts with no ties” to pharmaceutical companies. Since a number of people have complained about this, Congress decided to make the FDA cut twenty-five percent of the advisory board that has financial ties with the pharmaceutical company being evaluated over the next five years.
Therefore the government should regulate the pharmaceutical industry because the industry is harmful towards the economy and patients. The government can achieve this by enabling a cap on prices of specialty drugs and ensuring DCTA is not
The FDA stands for Food and Drug Administration. The FDA is controlled by the federal executive department. It was founded in 1906 by President Roosevelt. The purpose of the FDA is to protect and promote good public health nationwide. Originally it started as just a food administration, needed to enforce proper food labeling, then later became a drug administration as well.
As a hospital pharmacist you are expected to be an expert in the field of medicines, how they are used and their various effects on the human body. As hospital pharmacist you will be responsible for dispensing prescriptions, purchasing medications and quality testing of medicines. Hospital pharmacists may also manufacture medicines, as in some extreme cases a medicine will need to be tailor made for an individual patient. B. Advantages: Clinical aspects
Every citizen in the United States has individual rights protected by the Constitution. This protection also includes businesses that have gone through the legal process to become a legal entity ; more commonly known as becoming a corporation. Many times these individual rights, protected by the Constitution, conflict with the common good and as history shows, the courts consistently side with the common good when faced with a case that pits these two against each other. Big Pharma are corporations exercising their individual rights to market, and sell their product to consumers. In the process, the common good is suffering.
Research and development is a very important part of their value chain. It is linked throughout almost every aspect of their priority topics including product quality, reliability, and safety, access and affordability, and all the way to their product end of life. Research and development at Johnson & Johnson is used to create new products and figure out ways to improve their old products. Since there are many illnesses that do not have a cure, Johnson & Johnson invests in
INTRODUCTION This assignment is about the study of the effect of agonist and different concentration on guinea pig ileum and it will consist of method, graph results and discussion. Drug is defined as a chemical that has both biological and pharmacological effects on human. Its branch is pharmacology which can be divided into two branches namely pharmacodynamics and pharmaco kinetics. (C. Stephen and W. Robin (2010)) Pharmaco dynamic is about what drug does to the body and pharmaco kinetics is the study of what the body does to the drug.
The goal is to make a lifechanging medication at an affordable price. Also, owning a lot of patents under their name has helped them earn a lot of profits. The Merck company has succeeded in differentiating itself as cost leadership
Pharmacology Assignment Week 4 Marty Smith is a 67-year-old male who has called 911 after experiencing chest pain and dizziness. The paramedics arrive and notice a bottle of nitroglycerin on the table. The patient states he has angina and is to take the medication as needed for chest pain. He took one pill an hour ago and a second pill 10 minutes prior to calling 911.
Threat of substitutes (low): This is one of the great advantages of the pharma industry. Because the demand for pharma products continues and the industry flourish. One of the main reasons for high competitiveness in the field is that it is an ongoing
The model of the Five Competitive Forces, developed by Michael E. Porter, is based on corporate strategy, industry structure and the way they change. Porter has identified five competitive forces that shape every industry and every market and they determine the intensity of competition and hence the profitability and attractiveness of an industry. We further look into how the strategy and industry structure is placed in the field of healthcare and hospitals and analyze the attractiveness of the overall industry. 2.2 Rivalry among competitors Industry Rivalry is one of the 5 forces used to determine the intensity of competition in the industry. Competition in health care is the potential to provide with a mechanism to reduce cost and hence accessible
A pharmacist also has a key role. Pharmacists are healthcare providers that have to communicate with there patients to make sure they can take the medication properly according to their lifestyle, diet, and transportation. The best reason of all is that I get to work directly with patients. Pharmacists are able to see patients anytime during the week, morning, evening, and
Medication History Reflective Writing Pharmacy Practice II Shaymous Juhnke As a student in SDSU’s pharmacy program one of the activities required to prepare us for real world pharmacy practice is to perform a medication history. Performing a medication history and reviewing it can be helpful to in acquiring information about a patents disease states, keeping an up to date record on their current medications, and helps prevent and resolve potential and current issues with patents medications.
PORTERS FIVE FORCES ANALYSIS - PHARMA INDUSTRY Using Porter's Five Forces we can analyse the scope of the pharmaceutical industry. It looks into five factors namely, competitive rivalry, threat of new entrants, threat of substitute products, bargaining power of suppliers and bargaining power of customers. " Competitive rivalry: The pharmaceutical industry is highly fragmented with almost 3,000 pharma companies and 10,500 manufacturing units. Due to increasing demand of high-quality drugs, low-to-moderate entry barrier to the new entrant, the presence of a number of large and small firm this market is highly competitive.
INTRODUCTION The latter decade of the 20th century brought a number of major innovations to the pharmaceutical industry, most notably a remarkable wave of successful joint ventures and mergers between big and medium players in the market. In this case study we analyzed the Rorer and Rhône-Poulenc (RP) merger in July 31, 1990 that created a major multinational company: the Rhône-Poulenc Rorer, Inc. (RPR), where the RP became the majority shareholder, owning 68 percent of the RPR’s shares. Prior to the merger, Rorer lacked the resources to access the European market, and the firm presented relatively low cash balance and rising debt which, according to financial analysts, appeared to be handicapping its strategy of growth by acquisitions.