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The pharmaceutical industry

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documents in English
market study
34 pages
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  1. Introduction
  2. WTO
    1. The attractiveness of the WTO remains strong
    2. The dispute settlement body works
  3. The malfunctioning of the WTO announced the end model?
    1. The Doha round of negotiations
    2. Institutional weaknesses
  4. The WTO does not have the means to ensure effective regulation of trade
  5. Conclusion

The pharmaceutical industry is an economic sector that is very rich and active, consisting mainly of research, manufacture and marketing of medicines. Its success is illustrated by the fact that it is one of the most profitable industries in the world. Some of the best pharmaceutical and biotech companies are Sanofi-Aventis, Johnson and Pfizer.

As part of a study, this paper will deal with multiple aspects of these companies like: economic development, social involvement of the state and market, competition, international openness, productivity and employment. It shall see how the pharmaceutical sector faces the various challenges it encounters. Some of the challenges include the decline of innovation in different research laboratories, generic competition and the rising power of biotechnology.

All these developments are bearing down on the profitability of the laboratories, and through this, on the future of its businesses. However, the pharmaceutical sector will never really be threatened. This is because of the strength it has and the strategies it can come up with to innovate and to cope with any situation.

The pharmaceutical industry is classified in the industry of consumer goods and has three business segments: the manufacture of basic pharmaceutical products , the manufacture of medicines and the manufacture of other pharmaceutical products . The pharmacies are classified in the trade sector.

The pharmaceutical sector is structured around the pharmaceutical and biotechnology companies that operate in a highly regulated environment, fine markets, chemicals suppliers, service providers in research and development, the different market segments (specialties, ethical, generic drugs and OTC) and distribution channels and individuals marketing .

It is a sector supported by sound structural fundamentals such as the aging population, population growth, unmet medical needs, medical drive innovation. However, the pharmaceutical industry remains largely controlled by the national health insurance. As a result, companies have seen their productivity decline, and that is due to a tightening of the regulatory frame work and the fear of increased adverse effects of drugs on the market. Many also face the loss of operating licenses on many of their discoveries that fall into the public domain, which promotes the development of generic importance.

The dynamics of the global pharmaceutical market is supported by the aging population and unmet medical needs. Little influenced by economic cycles, the development of the pharmaceutical market is based on structural factors of socio-economic development, ensuring a bright future for this sector. Moreover, the advent of chemistry has made the pharmaceutical industry one of the most profitable sectors of the 20th century.

However, in recent years there has been a gradual decline of the industry, due to the slow down in the pace of discovery of new molecules to bring to market an innovative drug.

Also, major pharmaceutical companies have had to develop a range of new strategies to maintain their growth rate. These strategies are mainly in three areas: research and development (R & D), industrial structure and intellectual property.

The pharmaceutical sector is represented by a set of institutions and the public and private organizations vary widely.
It brings together trade unions, in addition to the National Order of Pharmacists (which includes all pharmacists of a particular mode of exercise or a group of pharmaceutical companies).

Tags: The pharmaceutical industry; economic development; competition and challenges faced by this industry

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