Brand Name Pharmaceutical Management Industry Profile

1178 words - 5 pages

Due to its increasing demand and globalization, the Brand Name Pharmaceutical Manufacturing in the United States will continue to be profitable despite competition from generic pharmaceuticals, barriers to innovation, and safety regulation.
An industry overview
Brand Name Pharmaceutical Manufacturing in the United States is one of the largest industries in the world today. This industry produces prescription and over-the-counter drugs as well as biologic products that are primarily intended for the treatment of human illnesses (Zhong). Its major products and services include other pharmaceutical preparations, biological products, oncological products, medicinal and botanical products, ...view middle of the document...

International contract laboratories have increased significantly in order to reduce costs, optimize speed and increase flexibility of research and development. For example Pfizer Global Biologics has been using contract organizations located abroad for analytical testing for more than five years. This strategy has allowed an increase in the total number of drug development projects Pfizer can manage at any one time (Turk). The number of clinical trials conducted overseas in countries like India is expected to surge to 8% of the worldwide total by 2016. Incentives for this include easier clinical trial recruitment, lower labor costs, a rich talent pool and tax incentives to drug makers (Turk).
Federal funding for Medicare and Medicaid as well as overall growth in the number of people with private insurance is expected to strongly increase making industry products more affordable for consumers who gain prescription drug coverage.
Demand for this industry’s products will also increase as the US population ages as older individuals have a higher chance of contracting illnesses and age-related diseases requiring prescription medications. More than 90% of seniors and 58% of all adults rely on prescription medicine on a regular basis (Turk). An aging population and healthcare reform’s broadening of insurance coverage will likely expand drug sales over the five years to 2018. Revenue of this industry will increase 2.0% per year on average to $182.5 billion, with revenue growth of 2.2% in 2014 (Turk).
Performance has been impeded by competition from generic pharmaceuticals, safety regulation, and barriers to innovation

Brand name and generic pharmaceutical companies are in direct competition. The annual growth of the generic pharmaceutical industry (7.3%) is three times as high as the annual growth of the brand name pharmaceutical industry (Zhong). Not helping this situation was the patent cliff of 2011 and 2012, which had a significant impact on brand name pharmaceutical, manufacturing. During this time patents expired for Lipitor, Plavix, Seroquel, Actos, Singular, and others (Turk). Generic pharmaceuticals were then able to sell their products at a significant discount. This has decreased operating profit and accounts for $140 billion of expected total sales lost from patent expiration from 2012 to 2017 (Zhong). According to the IMS Institute for Healthcare informatics, a generic drug will capture 60% of a brand name drug’s sales volume within six months of patent loss (Zhong).
Safety concerns and the related regulation of certain drugs have also had a significant impact on the profitability of this industry. In 2010, the Food and Drug Administration banned Darvon and other drugs containing dextropropoxyphene, a chemical substance used to...

Other Papers Like Brand Name Pharmaceutical Management- Industry Profile

Upjohn Merger Case Analysis

1709 words - 7 pages INTRODUCTION The 1990’s saw a highly fragmented pharmaceutical industry with many competitors. The top ten firms in pharmaceutical sales held 28% market share in mid-1995. The top 50 firms held just over 60 percent. Changes were occurring in the pharmaceutical industry in the 1990’s. With pharmaceutical benefit management (PBM) firms working to reduce costs, pharmaceutical firms held less power. PBMs sought to reduce the number of supplier

International Business Essay

871 words - 4 pages collaborations with larger firms, which allows them to benefit from increased funds creating more innovation and research opportunities. There are opportunities for new companies in the Egyptian pharmaceutical business with the strong growth of the market. This is being furthered by an ageing population and by a global trend toward self-medication (El-Khatib, 2011). In the pharmaceutical industry, product recalls can damage brand image, and issues over

Medicine Sector in Bangladesh

1017 words - 5 pages , the cost of which is borne by the pharmaceuticals. Customer’s Choice of Brand Name Brand Name Respondent (in %) Square 38 Beximco 24 Incepta 16 Glaxo SmithKline 8 Acme 6 SK-F 4 Others 4 Drug Quality of Bangladesh While some Bangladeshi pharmaceutical products on the market are of world-class standards, others are less so. Medical professionals and pharmacists interviewed voiced strong opinions on the quality levels

Porter's Five Forces

1183 words - 5 pages PHARMACEUTICAL INDUSTRY I begin with discussing how Michael Porter’s five external environmental forces threat of entry, threat of rivalry, threat of substitutes, threat of suppliers, and threat of buyers affect the pharmaceutical industry as a whole. The pharmaceutical industry consists of firms that develop, patent, and distribute drugs. This industry has important economies in research and development (R&D), also, the product is

Eskeyef Term Paper

4558 words - 19 pages on the pharmaceutical industry. The teams of dedicated professionals include panoply of pharmacists, medical graduates, microbiologists, biochemists, chemists, engineers and business management experts. Quality Quality for Eskayef does not depend on the market demand, but depend on their value of corporate citizenship. When people expect quality product, the manufacturer should always provide it. Eskayef has a very good reputation for

Brand Audit

2218 words - 9 pages Objective for Brand Audit The task assigned for our Brand Management Project is to conduct a Brand Audit of any existing brand and discuss any social cultural or ethical issues faced by the brand along with he brands market, Consumer Profile, Competitors profile, brand Inventory, Brand equity, core brand Values and assess its strengths, weaknesses and opportunities. Introduction

Strategy and Ratio Analysis of Gsk

1301 words - 6 pages Strategy Analysis of GSK Pharmaceutical Industry Overview of GlaxoSmithKline (GSK) In Bangladesh, the pharmaceutical sector is one of the fastest growing sectors. After the promulgation of Drug Control Ordinance - 1982, the development of this sector was accelerated. In 2008 the total size of the pharmaceutical market in Bangladesh was estimated to be USD 700 million and is growing at a steady rate. The pharmaceutical sector is the second

Customer Satisfaction

2085 words - 9 pages Customer satisfaction towards Parle agro products [Type text] Page 13 Customer satisfaction towards Parle agro products Industry profile In the 1950s the undivided Chauhan family manufactured beverages, water, confectionery, biscuits, etc. under its registered brand name Parle. Over the years, the group split into three different companies ² Parle Agro, Parle Bisleri and Parle Products. Currently, all three are separate companies with

Impact of Tqm on Indian Pharma Industry-Synopsis

3789 words - 16 pages IMPACT OF TOTAL QUALITY MANAGEMENT IN INDIAN PHARMACEUTICAL COMPANIES’ PERFORMANCE Name: Singh Sudhanshu Bala, Roll no.- ITM/BIT/MUMBAI/09/1- 17  2. INDEX Serial No. Title Page No. 1. Title Page 1 2. Index 2 3


5387 words - 22 pages Global competitiveness of Indian industry Contents Global competitiveness of Indian industry 1 Introduction :- 1 Systemic Process of Innovation :- 1 Innovative strategy for Indian Business for the future :- 2 Quality :- 2 Innovation :- 2 Customer - Commitment :- 3 Change acceptance :- 3 Globalization :- 3 Marketing Innovation :- 3 Global competitiveness of Pharmaceutical Industry: 4 Introduction 4 Evolution of Indian

College of Business Administration Internship Report

1320 words - 6 pages market brand-name products, the state filter 315 Ten Outstanding Award and the integrity of the brand, and through iso9001: XX, iso14001: XX Dual Certification professional manufacturer of filter presses. Xing Xin series filter for non-metallic minerals, metallurgy, printing and dyeing, ceramics, electroplating, gas, paper making, coking, pharmaceutical, food, brewing, chemical industry raw material production, industrial waste and sewage

Related Essays

China Pharmaceutical Tablet Testing Equipment Industry By Size, Share, Trends, Growth And Global Forecast To 2019

996 words - 4 pages Pharmaceutical Tablet Testing Equipment Manufacturing Technology Chapter Three Analysis of Global Key Manufacturers (Including Company Profile, Product Specification, 2009-2014 Production Information etc.) 3.1 Company A 3.2 Company B 3.3 Company C 3.4 Company D 3.5 Company E 3.6 Company F 3.7 Company G Single Use License: US$2400 Inquire for a discount on this report @ . Browse

India Pharmaceutical Cluster Essay

9670 words - 39 pages definition (2013). Registrar Corp. Retrieved from 23 Ibid. 24 Pharmaceutical industry profile. (July 2010). International trade administration, Office of Health and Consumer Goods. 25 Ibid. 26 Ibid. 27 Ibid. 28 Ibid. 29 Ibid. 30 Boehringer Ingelheim: Value though Innovation – Healthcare Policy –Demand for care rising sharply.(2013). Retrieved from

Xyz Pharama Essay

5496 words - 22 pages system, used in a spreadsheet, or transmitted in any form or by any means – electronic, mechanical, photocopying, recording, or otherwise – without the permission of London Business School. Project Portfolio Management at XYZ Pharma The pharmaceutical market is characterized by increasing competition between brand-name drugs, illustrated by the shrinking time span in which a drug is the sole drug for a specific therapeutic class. Also

Pharma And Healthcare Reform Essay

991 words - 4 pages for many industries but specifically, the pharmaceutical industry will see much growth. However, one must look at the effect on brand-name and generic drug manufacturers individually to fully understand the ramifications. Overall, healthcare reform is a large growth opportunity for the pharmaceutical industry and research shows a great deal of support for the legislation. In 2009, pharmaceutical interests spent $188 million lobbying for this