The Pharmaceutical And Medicine Manufacturing Industry

What would you do if you had to suffer every day from a life threatening illness that was debilitating and incurable? Over nine hundred million people throughout the world die each year because of incurable diseases such as cancer, HIV, and AIDS (What par 1). The number of people that suffer from these varying illnesses is slowly increasing, but the use of pharmaceutical drugs is helping to solve this problem. â€Å"The pharmaceutical and medicine manufacturing industry has produced a variety of medicinal and other health related products undreamed of by even the most imaginative apothecaries of the past† (Pharmaceutical par 1). Every day, millions of lives are saved with the use of these medications, and they allow these innocent people to live ordinary lives (Pharmaceutical par 1). According to William Lang, Vice President of policy and advocacy for the American Association of Colleges of Pharmacy, â€Å"There’s an increasing number of people with chronic illnesses, and the primary management tool available for dealing with chronic illness is medication† (Thompson par 10). While some take medications for simple health issues such as headaches, the flu, or minor colds, others use them to aid in the treatment of more serious illnesses such as pneumonia, cardiovascular disease, diabetes, autoimmune disorders, and cancer (Pharmaceutical par 2). Doctors and hospitals prescribe hundreds of thousands of new medications each day to patients, and many of these prescriptions range in costShow MoreRelatedThe Long History of Pakistans Pharmaceutical Sector691 Words   |  3 PagesBrief History: The Pakistan pharmaceutical sector has long history. It is being almost non-existent before the time of early seventies to a well-known provider of healthcare products meeting almost 95 per cent of the Pakistan’s pharmaceuticals needs. At the time of independence of Pakistan in 1947, there was hardly any Pharma industry in the country. In beginning there were only three manufacturing units located at Lahore, Rawalpindi and Peshawar. When Pakistan came into existence, in the earlyRead MoreThe Competitive Landscape Of The Industry1268 Words   |  6 Pagescompetitive landscape of the industry in which one is competing, it must understand how to formulate strategies that will create a profitable business. A business must know what it is good at to be able to effectively have a competitive advantage over other businesses within that industry. The profitability of Mylan Pharmaceuticals largely depends on their ability to discover and market new drugs. The desire to cure illness an d disease is what demands pharmaceutical companies like Mylan to be empoweredRead MoreEssay about The New Trade Theory1326 Words   |  6 Pagesa large scale of output† as it is able to spread over the fixed costs over a large volume of quantity (Wickramasekera, Cronk Hill 2013 p90). â€Å"First-mover advantages are the economic and strategic advantages that accrue to early entrants into an industry and the ability to capture scale economies ahead of later entrants† (Wickramasekera, Cronk Hill 2013 p91). The new trade theory however, is not free from criticism. Although the theory has achieved great success academically, there is little toRead MoreEXECUTIVE SUMMARY: The report basically highlights on how the pharmaceutical industry of India1400 Words   |  6 Pagesreport basically highlights on how the pharmaceutical industry of India works and its dynamics. The report also highlights about the Indian and global scenarios of pharmaceuticals industry and thereby comparison of those two. It comprises of analysing the industry by PEST, SWOT, PORTER’S five force model and HHI. It explains the current scenario of the industry in terms of growth and future outlook of the industry and opportunities. The Indian pharmaceutical industry has been growing rapidly at the rateRead MoreTypes Of Poor Quality Medicines1456 Words   |  6 PagesTypes of poor quality medicines : Poor quality medicines can be classified into three different man types : substandard , counterfeit and degraded. Substandard medicines â€Å"are genuine medicines produced by legitimate manufacturers that do not meet the quality specifications that the producer says they meet. For example, they may contain less (or more) active ingredient than written on the package. This may not e an intention to cheat, but may be due to problems with the manufacturing process†.(WHO, 2005)Read MoreThe World Trade Organization and Intellectual Property Rights1108 Words   |  4 Pagespatent protection for pharmaceutical inventions. In order to comply with the TRIPS obligation, India introduced product patent protection from 1 January 2005. In doing so, India in a way reinstated the patent regime, which is believed to favour the pharmaceutical Multinational Corporations (MNCs). While carrying out the amendment, Indian policy makers were confronted with two major concerns, viz. the future of the Indian pharmaceutical industry and access to affordable medicines within the country andRead MoreThe Global Pha rmaceutical Industry: Swallowing a Bitter Pill Essay836 Words   |  4 PagesThe Global Pharmaceutical Industry: Swallowing a Bitter Pill The case describes the evolution of the pharmaceutical industry and its strategic environment. Attention is drawn to environmental pressures from regulators and payers. Key forces driving the industry are discussed, including addressing unmet medical needs, the importance of innovation and time to market, and globalisation. The case illustrates how an increasingly hostile environment, combined with a decline in Ramp;D productivity, ledRead MoreMedicinal Chemsitry1138 Words   |  5 PagesWhat is Medicinal chemistry? 3†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...Body: The pharmaceutical industry Global generics Chemistry in a nutshell 4†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Conclusion End of academic essay In Medicinal chemistry , the chemist attempts to design and synthesize medicine or a pharmaceutical agent which will benefit humanity .Additionally Oxford defineRead MoreEssay On Drugs Are Not Killing Us1080 Words   |  5 Pages â€Å"Not long ago, a dose of the decades-old generic drug cost little more than a dollar. Now the lowest available price is nearly 20 times that,† states Melody Peterson, a writer for the LA Times. The monopoly power of manufacturers in the pharmaceutical industry allows companies to set unreasonable drug prices, leaving Americans unable to afford essential medications. Monopoly power allows drug companies to increase their prices and eliminate market competition. According to research from BrighamRead MoreBuyer Bargain Power Of The Pharmaceutical Industry1377 Words   |  6 PagesBuyer Bargain Power Buyers in the pharmaceutical industry are broken into physicians, who are the prescribers, patients, who are the users, hospital boards, who are authorizers of purchases and treatments, pharmacists, who are the distributors. Most of them have very minor influence on the pricing of the product, but unfortunately for the highly regulated pharmaceutical industry, they have to face a bargaining giants, the health organizations and the government agencies. Individual patients have