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As a result, this protection was removed to increase the supply and ensure that the public has access to affordable drugs. ("Pharmaceutical Companies," n.d., pp. 97-99)
Some of the negative implications of this decision are that there could be large amounts of generic drugs produced. This is because the various protections were removed to the point, that a number of players could begin manufacturing the medication. Over the course of time, this could destroy any kind of financial incentive in these areas. Once this occurs, it means that any kind of profit motives for these firms to sell drugs in these areas will decrease. This is when the available supply could decline, because there is too much competition. ("Pharmaceutical Companies," n.d., pp. 97-99)
At the same time, the quality of products could be inferior. This is because many firms will have select procedures in place to ensure that everyone is…
Global Report. (2009). UNAIDS. Retrieved from: http://www.unaids.org/globalreport/documents/20101123_GlobalReport_full_en.pdf
Pharmaceutical Companies. (n.d.)., 94 -- 103.
Hunter, S. (2003). Black Death. New York, NY: McMillian
Poku, N. (2005). AIDS in Africa. Cambridge: Poulty.
Paxil, Claritin vs. Allegra, etcetera.
However, all of that being allowed -- even if it did not add prohibitive costs, the packaging and marketing of drugs to consumers is absurd. A patient used to go to a doctor and ask for a doctor's expertise and advice in how to treat an ailment he or she was suffering. Now, patients see drugs advertised like cosmetics, and are encouraged to self-diagnose themselves as having a certain conditions, or to think that their condition is worse than it is, like a case of insomnia that might be better treated with less coffee during the day than a pill at night. Doctors are beset by patients demanding drugs, and drug reps pushing drugs, so is it any wonder than Americans are overmedicated, given that neither patients nor doctors are immune to advertising? The sad thing is that drugs cannot be ethically marketed like other…
Pharmaceutical Companies and Physicians: A Discussion
The power of pharmaceutical companies cannot and should not be underestimated in any manner. Their power is immense as is their influence and more consumers need to understand how they constantly shape the industries of health, medicine and wellness. However, it’s important to acknowledge the intensity of the connection between doctors and pharmaceutical companies. This is a connection that begins when doctors are in medical school—they are subjected to a barrage of gifts, meals, trinkets and drug samples that starts early and continues on throughout their professional careers (Kshirsagar &Vu, 2016). Clearly this rapport creates a conflict of interest that can be damaging to the healthcare system. In order to protect themselves, consumers and citizens everywhere should demand a greater level of transparency in regards to how doctors are being compensated among other things. This paper will discuss in depth the necessity for a higher…
Case Analysis: Pharma, Intellectual Property
Prior to 2003, the U.S. pharmaceutical industry heavily restricted intellectual property rights that would allow African countries and others ravaged by AIDS to receive generic medicine
There are a great deal of shocking statistics regarding the global populations living with and dying from AIDS, particularly in the age group of 15 -- 19
Health is a factors that is considered relative to a country's wealth; in Africa, a continent that is rich in natural resources, yet those resources are not controlled by the indigenous peoples, the number of people with AIDS is yet another way that Africa's extreme poverty demonstrates itself
Most of the people in the world who died from AIDS annually, are those from the southern parts of Africa
Pharmaceutical treatments are not cheap or instantaneous; the industry booms and will continue to do so for years to come because of the…
Shah, Anup. "Pharmaceutical Companies and AIDS." Global Issues: Social, Political, Economic and Environmental Issues That Affect Us All, Web, Available from: http://www.globalissues.org/article/53/pharmaceutical-corporations-and-aids . 2013 February 18.
UNAIDS. "2002 Report on the Global HIV / AIDS Epidemic." Provided.
Q1. Which factors have contributed most to the increase in drug expenditure?
One notable healthcare trend in recent years has been the steady climb in drug expenditures. Improvements in technology and the aging of the population are two commonly-cited factors, as the population is living longer, has a higher rate of chronic health conditions such as heart disease and diabetes, and suffers multiple comorbid health conditions, pharmaceutical companies have risen to the challenge (and profited tremendously) from these concurrent developments. According to La Fleur, Fish, & Brixner (2008), during the years 1996-2000, “the average number of prescriptions per person also rose—from 7.3 to 10.4.1” (par. 5). But this alone cannot explain the increase, and there was also a significant increase (14%) in the amount of money pharmaceutical companies spent advertising to consumers, particularly older consumers (La Fleur, et al., 2008).
Prices for drugs have themselves increased, much more so in…
La Fleur, J., Fish, L, & Brixner, D. I. (2008). Trends in pharmaceutical expenditures: The impact on drug benefit design. American Health & Drug Benefits, 1(4), 29–34. Retrieved from: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4106630/
Why are prescription drug prices rising and how to they affect the US fiscal outlook? (2019). Peter G. Peterson Foundation. Retrieved from: https://www.pgpf.org/blog/2019/11/why - are-prescription-drug-prices-rising-and-how-do-they-affect-the-us-fiscal-outlook
(Drug Creation Process: Learn and Confirm, a new Paradigm for Clinical Development at Wyeth)
Pharmaceuticals - a knowledge driven industry:
Pharmaceuticals happen to be one of the most extremely 'Knowledge Driven' industries that is always in a state of change. Human, animal, and environmental health remains the topmost interest of the society. Diversities in life form and infections render grave challenges to the formulation of particular and targeted solutions. Drug discovery is an elaborate process needing almost a decade at a cost of 300 million U.S. dollars to get a new drug to the market. Hence the long waiting period in between 'learning', knowledge generation' and its changeover to 'value added knowledge' requires the building of Proprietary Knowledge' that is of immense value in setting up and maintaining a worldwide creative gesture. One of our major competitors Merck and Co holds expertise in medicinal preparations & chemistry of N-Heterocyclics liquid…
Drug Creation Process: Learn and Confirm, a new Paradigm for Clinical Development at Wyeth. 2007. Retrieved 14 October, 2007 at http://www.wyeth.com/research/drugprocess
Ganguli, Prabuddha. Global Pharmaceutical Industry: Intellectual Wealth and Asset
Protection. Retrieved 14 October, 2007 at http://www.sristi.org/mdpipr2005/other_readings/or%2026.doc
Global Pharmaceutical Contract Manufacturing Markets. Retrieved 14 October, 2007 at http://www.frost.com/prod/servlet/report-brochure.pag?id=A918-01-00-00-00
Jurox is a small pharmaceutical company specialising in niche markets that relies primarily on focused research to create new products to fill certain niche markets.
Jurox began to experience problems with the many projects underway not achieving significant results as well as operating inefficiently and at high cost. While the company does not expect the majority of research to result in feasible products, it does expect this research to be carried out efficiently so that new projects can begin in different areas.
The company analysed the problem and decided that the organisational structure was the source of the problem. The organisational structure was a flat structure organised by function, with separate departments handling each stage of the project and then passing it on to the next department. The original process was for accounting to determine the financial feasibility, marketing to assess the marketing potential, research and development to create the…
Consultant Cover Letter
CEO, Capellon Pharmaceuticals
This memo serves as an introduction to my consulting services and a briefing of the work I have just completed for Capellon. I met with Alexi Parsons two weeks earlier to outline a plan for my consultation and to set this day as the target for completion of my research. Below, I describe my perspective of the challenges Capellon faces, my research findings, and my recommendations to you and the board of directors.
Challenges. Productivity and morale have decreased company-wide. Resources have been heavily allocated to the marketing department, but year-over-year sales fell markedly.
Staff resisted required changes in policies and interactions have been sophomoric. Consequently, turnover had reached unacceptable levels that threaten to mare the company's reputation in the industry. The marketing manager does not have leeway to function effectively and is chronically micromanaged by superiors who do not understand the operations of…
New communication technologies require stricter scrutiny, as well. The threat of reprisal is the most effective measure against intellectual property right infringements, and for this reason one of the most essential actions that can be taken in this regard -- and frequently is -- is the filing of civil and criminal charges against companies that infringe upon these rights in an aggressive and uncompromising manner (Long 2000). This not only limits damages, but dissuades future infringement.
Protecting Other Firms
efraining from infringing on another company's tangible and intellectual property rights might be seem to be a simple task, but it does require that certain actions are taken by pharmaceutical company managers. First and foremost, knowledge of the property right laws in effect must be obtained and thoroughly understood in order to refrain from infringing upon them. With this knowledge in place, managers can ensure that any similarities that develop between…
Ghauri, P. & Rao, P. (2008). "Intellectual property, pharmaceutical MNEs and the developing world." Accessed 17 January 2010. http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6W5M-4SY6YJR-3&_user=10&_rdoc=1&_fmt=&_orig=search&_sort=d&_docanchor=&view=c&_searchStrId=1171065541&_rerunOrigin=google&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=e667e8f8848aae7fd6fe1c222ed046d6
GTN. (2004). "Intellectual property summary." Accessed 17 January 2010. http://www.cid.harvard.edu/cidtrade/issues/ipr.html
Kaufman, J. (2008). "Intellectual Property Rights and the Pharmaceutical Industry." Accessed 17 January 2010. http://www.america.gov/st/econ-english/2008/April/20080429230451myleen0.4181027.html
Long, C. (2000). "Intellectual property rights in emerging markets." Accessed 17 January 2010. http://www.scribd.com/doc/2011460/Intellectual-Property-Rights-in-Emerging-Markets
38 per share on the company's common stock for the first quarter of 2005. The dividend is payable January 3, 2005 to stockholders of records at the close of business on December 3, 2004. Growth in the ZETIA and VYTORIN franchises are expected to continue. T
There are currently several candidates in Phase III that Merck plans to file in 2005 as well as Type 2 diabetes treatment and three vaccines. The fourth-quarter 2004 EPS anticipation is stated to be $0.48 to $0.53, which includes the impact of approximately "$700 to $750 million foregone sales of VIOXX. The result is anticipation by Merck for EPS guidance (2004 full-year) of $2.59 to $2.64. These amounts include withdrawal impact and next years negative affects of the DPS by $0.50 to $0.55."
Merck & Co., Inc. announced in a recent report that they had made submission to the U.S. Food and Drug Administration…
"Merck Board Appoints Special Committee to Review VIOXX Withdrawal" 2004 Dec 2 Whitehouse Stations, N.J. [Online] available at: http://www.merck.com/news room/press_releases/corporate/2004_1207.html
The global pharmaceutical market in 2000 - North America sets the pace (nd) [Online] available at: http://www.ims-global.com/insight/news_story/0103 / news_ story _010 314.htm
Merck Announces Voluntary Worldwide Withdrawal of Vioxx 2004 Sep 30 [Online] available at: http://www.vioxx.com/rofecoxib/vioxx/hcp/hcp_notification_physicians.jsp
There are two constant irritations in U.S. pharma companies' relationships internationally:
Some developing nations, such as India, razil and South Africa, are chipping away at the patent situation, trying to shorten the time until the drugs can be brought out in generic form.
The U.S. has supported high prices as the cost for innovation. Since other countries are not playing along, this means that their citizens are benefiting from the innovation paid by Americans.
ig Pharma is at a crossroads today. The previous "great" chronic diseases, like diabetes, heart disease, infectious disease (viral and bacterial) have now been tackled by "blockbuster" drugs.
The high regulatory pressures, price pressures and lack of future such blockbuster markets dictates that pharma companies will have to innovate a lot more in niches -- more products, smaller markets. The large pharma companies which grew up in a time of plenty will therefore have to…
Bureau, U.S. Census. (2001). An Aging World. Washington, DC: U.S. Census Bureau.
Economist. (2007, October 25). The Pharmaceutical Industry: Beyond the Pill. Economist, p. n.p.
Economist. (2007). World Atlas. London: Economist.
Herper, M. (2007, October 29). Drug Drought. Forbes, p. n.p.
pharmaceuticals in ussia. The writer provides an overview of the history of the topic as well as the current concerns in the field. There were five sources used to complete this paper.
When the Soviet Union dismantled its communist regime and began to rebuild its entire political and economic structure the world cheered and offered its support. It has been more than a decade and while several areas have been enjoying marked success the pharmaceutical field has been fraught with problems. The pharmaceutical industry in ussia has dealt with many problems including fraud, counterfeit and fake products. It is an industry that by its very nature mandates the strict compliance with purity both in manufacturing as well as cost. ussia works towards that compliance while trying to rid itself of the problems that have come with it.
The ussian pharmaceutical market is filled with problems and one of the biggest…
Privin, Irina (1997). Russia Beckons the Industry., Pharmaceutical Executive, 10-01-1997, pp 88.
Author not available (1996). RUSSIA DISCUSSES QUALITY OF MEDICAL IMPORTS FROM INDIA.., ITAR-TASS, 04-04-1996.
Author not available (1998). AS OF DEC. 8 RUSSIA RAISES IMPORT DUTIES ON ANY PHARMACEUTICALS HAVING A RUSSIAN-MADE ANALOGUE.., A&G Information Services, 12-29-1998.
Startseva, Alla (2002).Fake Drugs Called a $250M Business, THE MOSCOW TIMES., The Moscow Times (Russia), 04-26-2002.
Q1.Why has the attractiveness of the pharmaceutical industry declined so much since the 1980’s? What are the implications of those changes in industry structure for firm strategy?
Despite the tremendous profits garnered by large pharmaceutical companies for so-called blockbuster drugs, pharmaceutical companies must make huge investments in R&D to produce profitable medications. The vast majority of drugs which are developed and tested never go to market. Additionally, once companies produce valuable drugs, they have a limited window on which to capitalize upon a drug’s profitability before its compounds can be sold in the form of a much cheaper generic. The FDA shortened the patient life of drugs from 11-12 years from 17-20, thus vastly reducing the financial ability of companies to cash in on valuable non-generics (Collis & Smith, 2007, p.5).
The industry structure also changed significantly, as more and more companies began to enter into the fray of developing…
Integration of Anti-Counterfeit Technology in the Pharmaceutical Supply Chain
ationale for Strategic Action Plan
Strategic Aims and Objectives
Levers and Obstacles
Analysis of Internal Capabilities -- Strengths and Weaknesses
Trends and External Forces -- Opportunities and Threats
Strategic Action Plan
Key Actions, Actors, and esponsibilities
Timeline and Milestones
isk and Barriers
Mechanisms to Track Progress
The organization, Cure Pharmaceutical (Cure), operates in the pharmaceutical industry's drug delivery technology segment. Cure is considered a small pharmaceutical company with revenues of one hundred and fifty million. A technology designed by the firm enables patients to take medications without water. This patented Oral Thin Film Technology (OTF) is small, light and occupies much less space after packaging. The technology can be shipped in single dose form or in bulk rolls to the site of patient care. Cure's core business integrates generic drugs that are an…
Abel, J., 2010. Prevent Counterfeiting in the Pharmaceutical Industry. Pharmaceutical Engineering, vol. 30, no. 6, p. 3.
Ascher, J., Bogdan, B., Dreszer, J. and Zhou, G., 2015. Pharma's next challenge. [online] Available at: [accessed 29 November 2016]
Bansal, D., Malla, S., Gudala, K. and Tiwari, P., 2013. Anti-counterfeit technologies: a pharmaceutical industry perspective. Scientia Pharmaceutica, vol. 81, no. 1, pp. 1-13.
Cummings, T. and Worley, C., 2013. Organisation development and change. 10th ed. Boston: Cengage Learning.
The author of this report has been asked to review five Harvard Business Review documents from the recent years that relate to the pharmaceutical industry. From this review, the author is asked to summarize and offer several lessons learned from the cases as it relates to the power and limitations of the pharmaceutical market in addressing medical needs of patients. Indeed, there are some obvious lessons that can be cited in the reports. While pharmaceutical markets can solve a lot of problems and cure a lot of ills, the profit motive and the logistics of helping certain people prevent certain people from being assisted in a timely fashion, if at all.
One major challenge of the pharmaceutical industry is getting drugs to market. The process of getting a drug to market is long and arduous. Even when everything goes according to plan, the specter of lawsuits…
Company X has faith in its employees to utilize their own ethical judgment in conjunction with the rules and standards set forth by the company in order to assure that actions within the company are performed at an optimal level across the board.
Implementation and Communication
In order to assure that a code of ethics is implemented to the best of its ability into a company, gradual implementation must be used along with clear communication as to each step of the process in order to assure that the code of ethics is fully understood and used within the company by its employees.
In order to begin implementation, a checklist regarding steps needed to begin code adherence could prove helpful in providing a smooth transition into code use. In the early stages of implementation, it is crucial that as many people as possible -- employees included -- are involved in both…
Emerson, T., McKinney, J. And Neubert, M. (2010). "The effects of ethical codes on ethical perceptions of actions toward stakeholders." Journal of Business Ethics. 97:1. p. 505-516. Retrieved from: ProQuest Database.
Gaumnitz, B. And Lere, J. (2007). "Codes of ethics with impact." The CPA Journal. 15:1.
p. 106. Retrieved from: LexisNexis Database.
Godkin, L. And Valentine, S. (2009). "Ethics, social responsibility, and ethical reasoning in an education-based center: when doing good results in good employees." Journal of Leadership, Accountability and Ethics. 7:3. p. 1-18. Retrieved from: ProQuest Database.
Company Strategy: Whole Foods
On the surface, Whole Foods has a unique, almost counterintuitive philosophy. ather than stressing value and volume in terms of food sales, it instead offers more expensive organic and specialty goods. However, its niche marketing strategy has proven to be extremely lucrative. Whole Foods is an interesting case study as a company in the manner in which it has simultaneously capitalized upon popular trends in food without trying to be 'all things to all people.' In 2013, the company had same-store sales growth of 7.5%. It has rapidly expanded: "the company's growth strategy is to seek new locations for its stores in highly populated, often urban, areas. Each store averages around 38,000 square feet, and about 30% of the company's stores were acquired, meaning that they were other health-food stores that were bought out and re-branded as Whole Foods" (Frankel 2013).
Whole Foods' vision and mission…
Brown, Joshua. (2013). What Whole Foods learned from the recession. The Reformed Broker.
Dennis, Brady. (2013). Whole Foods executive explains strategy behind labeling genetically modified foods. St. Louis Dispatch. Retrieved:
Because of the importance that pharmaceuticals will play in the 21st century, getting a degree in this field can provide me with numerous career alternatives. In addition to preparing drugs and providing advice, pharmacists can educate physicians and other healthcare workers on the choice, amount, and side effects of medications. Pharmacists can also work in a host of different sites.
Increasingly, pharmacists are playing a role in nontraditional situations as well. Some are involved with research for pharmaceutical manufacturers, developing new medications and therapies and testing their effects on patients. Others take jobs in marketing or sales, offering numerous resources and expertise to clients on a medication's use, effectiveness, and possible concerns. Some pharmacists also are employed by health insurance companies, developing benefit packages and implementing cost-benefit analyses on specific medications. Others are working with the government, pharmaceutical professional associations, or universities as professors and researchers.
Regardless of what avenue…
More specifically, the new compensation scheme could still require a minimum number of sales to qualify for the base salary. In principle, the base salary would reduce discontentment among sales staff in connection with the complete dependence of their compensation on their sales success and reduce the perception that MedTech cares only about sales and not about its employees (obbins & Judge, 2009).
However, the most important change that Harold should make is in connection with the reimbursement of sales personnel for their expenses incurred in promoting the product to prospective customers. In that regard, MedTech is actually in a fairly unique position because (based on the available information in the case) there are no contraindications associated with the product. Ordinarily, there are significant ethical issues associated with marketing pharmaceuticals to physicians (Halbert & Ingulli, 2008). Specifically, many medical products and pharmaceuticals can be used inappropriately (typically, in so-called "off-label"…
George, J.M. And Jones, G.R. (2008). Understanding and Managing Organizational
Behavior. New Jersey: Prentice Hall.
Halbert, T., and Ingulli, E. (2008). Law & Ethics in the Business Environment.
Cincinnati, OH: West Legal Studies.
Ganga Pharmaceuticals is a multinational Indian corporation that competes in the manufacturing of pharmaceuticals and related research and development with annual revenues of about $285 million. The company features one of the largest biotechnology parks in India and currently employs around 7,000 employees globally. In recent years, Ganga has acquired a number of companies in Europe and the United States, including C-Pharma, which was acquired in 2003 for approximately $17.2 million. As part of this acquisition, the human resources division at Ganga sought to align the newly acquired C-Pharma with the parent company, but met with mixed success due to some missteps in its administration of the transition. To determine where the company went wrong and what steps could have been taken to avoid these adverse outcomes, this study provides a review of the relevant literature in two parts. The first part provides an overview of Ganga, its operations strategy,…
Brewster, C. & Harris, H. (1999). International HRM: Contemporary issues in Europe. New York: Routledge.
Budhwar, P.S., Varma, A., Katou, A.A. & Narayan, D. (2009). The role of HR in cross-border mergers and acquisitions: the case of Indian pharmaceutical firms. Multinational Business Review, 17(2), 89-91.
Ncube, L.B. & Wasburn, M.H. (2008). Strategic analysis: Approaching continuous improvement proactively. Review of Business, 29(1), 15-17.
Wall, S.J. & Wall, S.R. (2000). The morning after: Making corporate mergers work after the deal is sealed. Cambridge, MA: Perseus Books.
In addition, the recall constitutes an expectation of substantial change before products actually reached consumers, placing it in compliance with 402A. obins & obins lived up to its legal and its ethical responsibilities.
The Blanchard and Peale method of determining ethicality consists of three checks, which can be applied to both the decision to avoid the $0.35 per-package charge to automate recalls and to the "fake" recall process of the company (Lankard, 1991). First, the models asks if the action is legal, both in terms of governmental laws and company policy; the answer for both dilemmas in this case is "yes." The second test is whether the action is balanced and fair, promoting "win-win" solutions; here, the answer in both cases is more ambiguous. The additional costs of medications from the UPC rule would have been passed on to consumers, which is a "lose" to some extent even…
Adminsitrative Procedure Act. (n.d.). Accessed 18 April 2012. http://www.archives.gov/federal-register/laws/administrative-procedure/553.html
402A. (n.d.). Accessed 18 a / http://biotech.law.lsu.edu/cases/products/402a-b.htm
Lankard, B. (1991). Resolving Ethical Dilemmas in the Workplace. Accessed 18 April 2012. http://www.ericdigests.org/pre-9220/focus.htm
Radcliffe, M. & Brinson, D. (1999). Contracts Law. Accessed 18 April 2012. http://library.findlaw.com/1999/Jan/1/241463.html
Wyeth may have been prescient in recognizing the need to break the mold in pharmaceutical research: the old model of heavy, expensive and long research projects (with a concomitant high rate of failure) needed to be addressed. Also, the earlier emphasis on the industry in finding the "next blockbuster" is now giving way to the new realities of smaller niches, more specialized products, and shorter product development cycles.
Wyeth Rated est in Pharmaceutical Industry on the Wall Street Journal Patent Scorecard
Madison, N.J., August 9, 2007 - Wyeth (NYSE: WYE) announced today that the August 7, 2007 issue of the Wall Street Journal® Patent Scorecard ™ ranks Wyeth first among 35 global pharmaceutical companies evaluated for patent-based intellectual property, as measured by indicators including patents granted; quality of patents; Science Strength™, or the degree to which a company's patent portfolio is linked to core science; Research Intensity™, a comparative…
Cremieux, P-Y, Meilleur, M-C.,Ouellette, P., Petit, SP, Zelder, M and Potvin, K. "Public and private pharmaceutical spending as determinants of health outcomes in Canada." Health Economics (2004): 107-116.
Epsicom. Wyeth: Performance, Products, Pipeline and Potential. Investor. New York: Epsicom Healthcare Intelligence, 2007.
FDA. "Humanitarian Use Exemption." 2007. FDA. 21 October 2007 http://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfHDE/HDEInformation.cfm .
Feick, K. "Pharmaceutical Industry Faces Multiple Challenges - Future lies in Drug Pipeline Sustainability." Medical News Today 26 May 2005: n.p.
Although the Affordable Health Care Act represents a step in the right direction towards encouraging all Americans to avail themselves of medical services, the bill fails to address the root causes of problems in the system. The American health care system is flawed because it is a for-profit model that places profits far ahead of patients. When profits come ahead of patients, the result is an inability to fulfill the ethical duties of being a health care worker. A progressive transformation of the American health care system would systematically undo the nefarious link between corporate interests and the interests of health care.
The relationship between doctors and drug companies has been well established and well documented. Major news media resources like The Atlantic, as well as professional peer-reviewed journals like the New England Journal of Medicine cover stories addressing the potential ethical conundrums inherent in a cozy connection…
Campbell, E.G. (2007). Doctors and drug companies -- Scrutinizing influential relationships. New England Journal of Medicine 2007;357: 1796-1797.
Carollo, K. (2010). Pay dirt: hundreds of doctors earned big money from drug companies. ABC News. 25 October, 2010. Retrieved online: http://abcnews.go.com/Health/Wellness/drug-companies-payments-doctors-revealed-database/story?id=11929217
"Let the Sunshine In," (2013). The Economist. Mar 2, 2013. Retrieved online: http://www.economist.com/news/business/21572784-new-efforts-reveal-ties-between-doctors-and-drug-firms-let-sunshine
Moynihan, R. (2003). Who pays for the pizza? BMJ 2003; 326:1189.
Pharmaceutical Gray Market on Operations and Strategies
The safety, security and prices of pharmaceuticals in the United States represent a fundamental national security interest. When essential drugs are unavailable or priced too high, the public's health is threatened and this is what is happening because of the pharmaceutical gray market. This paper reviews the relevant literature to determine how the pharmaceutical "gray market" affects the operations of pharmaceutical companies operating in the U.S. pharmaceutical market as well as strategies used by pharmaceutical companies to combat this issue. A summary of the research and important findings concerning these issues are provided in the conclusion.
eview and Discussion
Generally speaking, pharmaceuticals are enormously expensive to develop and bring to market (Kelly, 1999). According to Kelly, "The development of prescription pharmaceuticals requires costly and time-consuming research. After a product has been developed, it must undergo the rigorous approval process of the Food and…
Bender, A.D. (2004, Winter). The coming of the baby boomers: Implications for the pharmaceutical industry. Generations, 28(4), 26-30.
Chen, H.L. (2002, June). Gray marketing and unfair competition. Atlantic Economic Journal,
Chercici, C., McGinnis, P. & Russell, W. (2011, August). Buyer beware: drug shortages and the gray market. Premier, 3-11.
Five Forces and Pharmaceutical Companies
Pharmaceutical Companies spends many years and millions of dollars developing new drugs. In order for these companies to be successful they must sell any successful drug at a high price to attempt to regain some of the cost of the drug. Once other companies replicate the drug the cost of the drug can be driven down with competition. Most people use their insurance companies to pay for their drugs, pharmaceutical benefits management (PBM). The pharmaceutical companies try to make deals with the PBM, by offering them lower prices so that they would pressure doctors into writing those prescriptions. Below is the five forces that drives the pharmaceutical industry.
Supplier Power is where the pharmaceutical company that is supplying the medication controls the power because of the volume of demand. The supplier power is defined by many different aspects of selling a specified drug. Usually once…
Higgins, M. (2006). Stricter gift ethics urged for doctors; study sees influence on diagnosis. The Washington Times.
Porter, M.E. (2010). Strategic management. Retrieved from http://www.quickmba.com/strategy/porter.shtml
Stay Healthy Pharmaceuticals is a multi-million dollar firm that has recently discovered that it's one step behind its competitors in all developments of new drugs. Since the company's survival and success in this industry is dependent on the number of successfully developed new drugs, it has research scientists who work in teams in the process of developing such drugs. While every research scientists' team is committed to the success of its own drug project, the company has noted that these teams have become very competitive with each other.
Based on the analysis conducted by the company's upper management, the stiff competition among the various research teams has reached a destructive level. As each team has begun hoarding information and knowledge that could be beneficial to other teams, the competition appears to be stifling the company's research. This stiff competition between the teams is also lessening the quality of decision-making and…
"Consensus Team Decision Making." (n.d.). Strategic Leadership and Decision Making.
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"How to Improve Teamwork on the Job." (n.d.). Speedupcareer.com. Retrieved September 17,
Applying Statistical Process Control Pharmaceutical Manufacturing
The use of applied statistics in studying a pharmaceutical manufacturing process is examined in the work of Tiani (2004) reports that health care quality is critically important in society and the quality of health care is important to all individuals. It is important that treatment is given in an accurate manner and this is particularly true of medications given to patients as it is expected that "the bottle of medicine has the specified number of tablets and that each tablet contains the specified quantity of the correct drug." (Tiani, 2004)
Legal and Regulatory Framework
There are legal and regulatory requirements set out in the law of the United States that the quality of medications be controlled in the pharmaceutical industry. The regulations are contained in federal statutes and outline "a quality control functions that emphasizes inspection and defect detection, and pharmaceutical quality control technology."…
Shanley, Agnes (2011) No Time for Process Control? PharmaManufacturing Magazine. Retrieved from: http://www.pharmamanufacturing.com/articles/2010/123.html?page=full
Janardhan, 2011, Pala Bashanam (2011) Pharmaceutical Manufacturing: Embracing Process Analytical Technology. Pharma Focus Asia. Retrieved from: http://www.pharmafocusasia.com/manufacturing/pharmaceutical_manufacturing_pat.htm
Moore, V (2003) Statistical Process Control. Chapter 24 9 Apr 2003. Retrieved from: http://www.uncp.edu/home/marson/360chapter24.pdf
Guidance for Industry Process Validation: General Principles and Practices (2011) U.S. Department of Health and Human Services Food and Drug Administration Center for Drug Evaluation and Research (CDER) Jan 2011. Retrieved from: http://www.pharmamanufacturing.com/wp_downloads/pdf/FDAProcessValidationJan2011.pdf
Patients have a right to know if their doctor's decision to prescribe a certain medication has been influenced by free lunches or other perks, rather than that doctor's objective overview of prescribing information.
In fact, the real ethical issue presented in the underlying case is not that the doctors are accepting gifts from the pharmaceutical companies. Drug companies did decide to some degree of self-limit in their gifts to physicians. However, whether or not the drug companies offer gifts may not be the real ethical issue. The criteria for acceptability or unacceptability of gifts should actually rest on physician response, rather than an arbitrary financial limit of gifts for physicians. In other words, some of the currently prohibited practices, such as taking the physicians golfing, seem like a smart business practice for the sales people. The doctors, however, should have to maintain a database for patients to access, where they…
philanthropic strategy a company choice. In approaching question, essay aim explore process philanthropic strategy formulation organization aspects strategy.
Strategic philanthropy is a practice of companies where they target philanthropic and charitable activates around a cause that will support their business objectives. Companies use philanthropy as a way of benefiting their business interests and the interests of the beneficiary organization. According to Thorne, McAlister, Ferrell, and Ferrell (2010)
strategic philanthropy is designed around creative planning, careful execution, focused research, and thorough follow-up, which is intended to achieve the desired results. Strategic philanthropy should be driven by the company's core concerns and values for it to be effective and rewarding. Strategic philanthropy mainly focuses on builds and changes for the future Carroll & Buchholtz, 2009()
Strategic philanthropy should not be confused with charity. Donations or charity tend to be smaller given by many people that go towards an immediate need or cause.…
Carroll, A.B., & Buchholtz, A.K. (2009). Business and Society: Ethics and Stakeholder Management: Ethics and Stakeholder Management. Cheriton House, North Way, Andover, Hampshire, SP10 5BE: South-Western Cengage Learning.
Chadwick, R. (2000). The Concise Encyclopedia of the Ethics of New Technologies. Maryland Heights, MO: Elsevier Science.
Hill, C.W.L., & Jones, G.R. (2008). Strategic Management: An Integrated Approach: An Integrated Approach. Boston, MA: Houghton Mifflin.
Merck. (2013). Access To Health, from http://www.merckresponsibility.com/focus-areas/access-to-health/home.html
Saudi Arabian pharmaceutical market is one of the largest in the Middle East. Within the Gulf Cooperation Council (GCC), Saudi Arabia represents 65%, or $1.7 billion, of the pharmaceutical market (EPSICOM, 2011). This work will analyze the unique opportunities within the Saudi pharmaceutical industry along with challenges, such as heavily regulated price controls and the barriers to access faced by international pharmaceutical companies. Through a better understanding of these factors, a more complete picture of the market can be obtained.
Saudi Arabia is a unique pharmaceutical market. It is the largest consumer in the GCC, with more than 82% of the medicines utilized being imported (aines, 2009). Also, the GCC is unique from nearly every other global region in that patients favor brand products over generics. This is despite that generics are the vast majority of the drugs produced in the Kingdom and the GCC. One study estimates the market…
Bains, E. (2009). Pharmaceuticals: Bringing in the Global Leaders. Middle East Econ. Dig. 53(33).
EPSICOM. (2011). The Pharmaceutical Market: Saudi Arabia. Last Modified 31 Oct 2011. URL: Http://www.espicom.com/prodcat2.nsf/Product_ID_Lookup/00000367?
Incentive Plan at Watson Pharmaceutical
Watson Pharmaceutical Company is located in Corona, California and is a leading company worldwide for pharmaceutical products. The organization develops, manufactures, markets and distributes generic pharmaceutical drugs specialized in women's health and urology, in the United States and throughout the world ("About Watson," 2010). Watson utilizes an incentive plan to motivate their employees to work harder and achieve their sales goal. The incentive plan motivates the employees to achieve their individual goals, allowing the organization to accomplish the organization goals. This is a strategy that is utilized by many organizations in pharmaceutical industry, as well as other sales agents. In this paper I will discuss Watson's incentive plan and how it is utilized to achieve the organization goals.
Incentive plans are extremely popular in the pharmaceutical industry. This is short-term compensation for achieved sales goals and increased revenue (Morningstar, 2011). Watson Co. utilizes…
About Watson. (2010). Retrieved from http://www.watson.com/about.asp
Custers et. al. (2008). Selecting effective incentive structures in health care: A decision framework to support health care purchasers in finding the right incentives to drive performance. BMC Health Services Research. 8 66-72
HR Focus (2001). Incentive Pay Plans: Which Ones Work and Why? HR Focus 78 (4) 3-5
Morningstar (2011). Big Pharmma Incentive Model Flawed, According to New Research from Hay Group. Retrieved from http://news.morningstar.com/all/business-wire/20110318005825/big-pharma-incentive-model-flawed-according-to-new-research-from-hay-group.aspx
These are called inclusion/exclusion criteria, and not only protect the participants from harm but also allow the researchers to be sure that the studies they do provide reliable data on the safety and efficacy of the drug. Each person who takes part in a drug study must go through an informed consent process. The potential participant will be given facts about the study, and is allowed to make a good decision regarding whether or not to participate. Even if the participant agrees to join a study, the participant can quit the study at any time. Participants may join a study for many reasons: they may want to try an experimental treatment, or want to help in medical research. Often time's participants will receive some sort of financial benefit for participating in studies, usually based upon the risk or requirements of the study.
The funding for clinical trials comes from many…
Data obtained from the internet at http://clinicaltrials.gov/ct2/info/new
No Author Listed, (2008), Protecting the Right of Human Participants. Accessed via the NIH website at http://phrp.nihtraining.com/users/login.php
European pharmaceutical dispensing customs and laws are significantly different than in the U.S. In Germany, for example, one cannot buy vitamins (above a certain small dosage) or aspirin anywhere but a pharmacy. Most drugs we consider OTC are still limited to the pharmacy in many European countries.
In considering whether to push for DTC advertising in Europe, American pharmaceutical companies will have to tread carefully, and be mindful of the special political clout carried by pharmacies and physicians.
Culture' and the limits of innovation in marketing: Ernest Dichter, motivation studies and psychoanalytic consumer research in Great ritain, 1950s -- 1970s (Schwarzkopf, 2007)
This study from the University of London talks about the attempt of American companies and advertising agencies to bring the results of psychoanalysis to Great ritain in the 1950's to the 1970's, and the difficulties encountered. America pioneered in consumer motivational research, which was popularized by Vance Packard…
Economist. (2007, April 26). Counter-attacking the Kremlin. Economist, p. n.p.
Guthrie, P. (2007). Direct-to-consumer advertising debated. CMAJ, n.p.
Pfanner, E. (2007, March 22). Marketers Have Eyes on the 'Third Screen'. New York Times, p. n.p.
Schwarzkopf, S. (2007). 'Culture' and the limits of innovation in marketing: Ernest Dichter, motivation studies and psychoanalytic consumer research in Great Britain, 1950s -- 1970s. Management and Organisational History, 219-236.
Strategic Analysis of Johnson & Johnson Pharmaceutical Division
This study provides the strategic analysis of Johnson & Johnson's pharmaceutical division to assist the company developing an effective strategy to achieve the competitive market advantages. The paper uses the SWOT analysis, PEST analysis and Porter's five forces for the strategic analysis. The outcomes of the analysis reveal that Johnson & Johnson is one of the top players in the pharmaceutical industry making the company enjoying superior market advantages in the United States and outside the United States. However, the company is still facing stiff competitions with other key players in the industry. Moreover, the company has not been able to reduce its cost of operations. The study recommends that Johnson & Johnson should launch its products in China to enjoy huge Chinese markets. Moreover, the company should take advantage of Chinese low stringent laws and regulations to produce drugs for Indian…
Arnum, P.V. (2015). Outlook 2018: The Current and Future Direction of the Pharma Industry. IMS Market Prognosis.
Gates, L.P. (2010). Strategic Planning with Critical Success Factors and Future Scenarios: An Integrated Strategic Planning Framework. Technical Report. Carnegie Mellon University. Software Engineering Institute.
KPMG (2011). Future Pharma Five Strategies to Accelerate the Transformation of the Pharmaceutical Industry by 2020. KPMG LLP, UK.
Phrama (2016). 2016 Profile Biopharmaceutical Research Industry. Washington, DC: PhRMA.
pag). Some business will continue as usual, of course: Abbott's nutrition division, based in Columbus, Ohio and employing approximately 2,000 people, announced that the nutrition unit will "fall under the umbrella of a new medical products company that will retain the Abbott name in a split announced ednesday" (Rouan n.pag). In addition, the announcement has apparently met with international investor approval: "At the news, Abbott's shares went up 7.3% in premarket trading on ednesday" (M2 Pharma n.pag).
The split is expected to occur in 2012 and will result in the currently-unnamed pharmaceutical company and the diversified medical products company, retaining the name "Abbott" (Abbott Laboratories n.pag).
(a). Pharmaceutical Company:
The pharmaceutical company is projected to have annual sales of approximately $18 Billion, a portfolio including Abbott's high-profile drugs such as Humira and Lupron, and a pipeline of "promising new specialty medicines and formulations" (Abbott Laboratories n.pag). According to Abbott's press…
Abbott Laboratories. A Tradition of Innovation. n.d. Web. 22 October 2011.
-- . Abbott Reports Strong Ongoing Third Quarter Results; Confirms Double-Digit Ongoing Earnings Growth Outlook for 2011. 19 October 2011. Web. 21 October 2011.
-- . Abbott to Separate into Two Leading Companies in Diversified Medical Products and Research-Based Pharmaceuticals. 19 October 2011. Web. 21 October 2011.
-- . Abbott Worldwide. n.d. 2011. Web. 21 October 2011.
Sustainability in Pharmaceutical Pricing
How Can Pharmaceutical Public-Private Partnerships Help to Achieve the Dissemination of affordable medicines - The Case of Anti Malaria Drugs in Nigeria?
Many individuals from developing countries who could benefit from pharmaceuticals products do not receive them due to high costs. Antiretroviral therapy's failure in reaching more than scant numbers of individuals in developing nations, suffering from AIDS, has drawn extensive publicity. However, even far cheaper medications that can be delivered easily aren't reaching numerous individuals who require them. Over a fourth of children all over the world and more than half of the children in a few nations do not receive vaccines, which come under the World Health Organization's (WHO's) Expanded Program on Immunization. Even though these vaccines only cost a family under a dollar a dose, they still cannot afford the medicine. The lack of access to beneficial pharmaceutical products and the…
AUSPA 2012, Policy & Advocacy, Western Australian Council of Social Service Inc., viewed 10 June 2017,
Buckley, J & Seamus, T 2005, International Pricing and Distribution of Therapeutic Pharmaceuticals: An Ethical Minefield. Business Ethics, pp.127-141.
Hussein, A 2015, The Use of Triangulation in Social Sciences Research: Can Qualitative and Quantitative Methods Be Combined? Journal of Comparative Social Work, vol. 4., no.1.
Lampard, R & Pole, C 2015. Practical social investigation: qualitative and quantitative methods in social research. Routledge: Abingdon, UK.
This was not the main finding, however. The study's focus was determining when generic pharmaceutical companies were likely to branch out into new markets via the manufacture of new drugs. The answer tended to be that companies entered markets with similar supply and demand levels as those of drugs already produced by the generic manufacturer. The study also interprets these results to mean that specialization based on supply capabilities is beneficial to all generic pharmaceutical manufacturing companies as it reduces the "overentering" (or over-saturation) of a market.
This was the bulk of what I learned from the article. Some of the other findings followed basic common sense -- markets with higher revenues, drugs that were purchased by hospitals more, and drugs that treated chronic conditions all received more market entries. This makes sense as these markets will increase the manufacturer's profits. I also learned -- though I should not have…
Pfizer can be included in the larger industrial sector of biotechnology and pharmaceuticals, although a great part of its revenues come from the pharmaceutical products for which it is renowned. The pharmaceutical companies have specialized in a vast category of drugs, from simple, aspirin- type drugs, to more complex ones, including drugs that inhibit or activate individual molecules in different selected environments. They also produce vitamins and livestock food supplements.
The pharmaceutical industry in the United States (and worldwide for that matter) is considered to be one of the most profitable and continuously booming. It is estimated that globally, over $300 billion worth of drugs are sold. A simple explanation for this high degree of profitability is, of course, the high demand of the sector: no matter what happens, drugs and medicine continue to be one of the necessities of people. Additionally, this demand seems to be on a constant…
Merck's profit margin was 13.6%, while Pfizer scored 34.8%, almost three times as much! This means either that Pfizer is selling at higher prices than Merck (it may be the case that Pfizer provides more specialized drugs that sell at a higher price) or that Pfizer has lower costs (I doubt that this is the main cause here. In general, the main costs in the pharmaceutical industry come from research and developed. As is the case here, it is very probable that these two companies are spending more or less the same amount on R& D. In order to remain competitive).
The return on total assets ratio, obtained by dividing the net income after tax to the total asset value, showed a score of 1.9% in Pfizer's case and of 14.8% in Merck's case, while the ROE (return on equity) amounted for 40.37% in Merck's case and 3.57% on Pfizer's case. The differences, as we can see, are extremely high. I could explain the first indicator, the ROI, with the very high value of total assets for Pfizer in 2003 (this almost doubled from 2002), which made the company less profitable that year, but the difference in ROE is enormous. It does not necessarily reflect a low profit in Pfizer's case (this seems comparable), but a very high value of equity. However, the analysis is even more complicated when we look at the P/E ratio, where the differences are staggering: Pfizer has a reported P/E of 136.92, while Merck has one of only 16.75, with the industrial average somewhere at 28.72. The closest to Pfizer in this case is Bayer, with 96.01.
The conclusions that we can draw from this analysis are somewhat ambiguous. We have had a look at several financial indicators and in many of them, Pfizer has scored lower scores than its competitor Merck. This is mainly the case of the asset management ratio and the profitability ratio. However, one of the most important indicators, the P/E, that shows us the perspective of a company, showed extremely high values for Pfizer, compared to all other companies and to the industrial average. Seeing that many indicators were influenced by the unstable value of the total assets, due to current acquisitions and mergers, investing in Pfizer may be advisable given the fact that a long-term growth is expected in the industry, as well as for the company (see again the P/E).
Product ecalls and How it Affects the Company
Food Industry ecalls
Instances of Product recalls
Effects on the Company
Loss of reputation
Legal and regulatory issues
Handling of Product ecalls
Treatment of ecalled Products
Product recalls are one of the sensitive business areas in the operation of any organization. The businesses tend to recall its products due to various reasons including minimizing the risk of injury for consumers, the compliance requirements in legal and regulatory perspective, and to protect the brand image in the market. There are various other reasons that are discussed and elaborated in the later sections. The product recalls are critical for different industries but especially for food chains and healthcare organizations the importance is increased. The businesses also establish well planned and thought out systems to ensure that they have a policy and system in…
Ganesan, S. (Ed.). (2012). Handbook of Marketing and Finance. Edward Elgar Publishing.
Germann, F., Grewal, R., Ross Jr., W.T., & Srivastava, R.K. (2013). Product recalls and the moderating role of brand commitment. Marketing Letters, 1-13.
Granata, L.A., Flick Jr., G.J., & Martin, R.E. (Eds.). (2012). The seafood industry: species, products, processing, and safety. Wiley. com.
Sodhi, M.S., & Tang, C.S. (2009). Modeling supply-chain planning under demand uncertainty using stochastic programming: A survey motivated by asset -- liability management. International Journal of Production Economics, 121(2), 728-738.
improve existing good service chosen company. Include elasticity demand market structure company's good service. Analyze data determine fixed variable costs.
What are the company's strategies to increase revenue?
To continue to ensure that consumers trust Paxil, its flagship antidepressant, the company must revitalize its reputation: GSK was recently fined three million dollars for encouraging off-label use for Paxil as treatment for children with depression (Verducci 2012).
To continue to produce new drugs through research and development for profitable populations. Drug companies must continually come up with new treatments that they can sell at a high profit, as their existing patents run out, allowing competitors to make cheaper generic drugs (Johnson 2011)
GSK is attempting to increase its holdings in developing markets such as Nigeria and India, to take advantage of expanding demand (France-Presse 2012)
Define the economic theory and show how you can determine the profit-maximizing quantity?
Breggin, Peter. (2012) $3 Billion in fines for illegal marketing of Paxil, Wellbutrin and other
Drugs. Huffington Post. Retrieved:
The controversy about patents for pharmaceuticals. (2012). Fed Circ. Retrieved:
Sub: comment on John's claim as a whistle blower against PharmaCAE and the ethical and legal implications of the case
As a member of Dewey, Chetum, and Howe you asked me to find out suitable ethical and legal implications that John's case could bring for the firm and for John himself. Detailed in the report are the issues regarding:
The Ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety in relation to PharmaCAE
Business ethics can be defined as the art, system, method and the discipline that is applied to along with ethical principles to solve complex business issues and dilemmas. It defines the actions that are taken that tries to reach a balance between the organization achieving its business and economic obligations and social obligations (Moon, 2001).
One of the ethics that is applicable in this case is related to the advertisement…
Accessdata.fda.gov,. (2015). CFR - Code of Federal Regulations Title 21. Retrieved 6 June 2015, from http://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfcfr/CFRSearch.cfm?fr=201.56
Accessdata.fda.gov,. (2015). CFR - Code of Federal Regulations Title 21. Retrieved 6 June 2015, from
Eli Lilly JV
Eli Lilly and Company has maintained a joint venture in India with anbaxy Laboratories Limited. Each firm is a leading pharmaceutical company in their respective countries, and though each offer distinctly different cultures, their joint venture has worked well until just recently. India, like many countries, are changing the business marketplace through regulations and stringent standards that make doing business much more difficult, which affects anbaxy's cash flow and bottom line. This is a situation that could lead to trouble for Eli Lilly, and at the very least may affect Eli's bottom line as well as anbaxy's. The question then becomes, 'should Eli Lilly be worried about the future of anbaxy, and if so, what actions should Eli take to alleviate that concern?'
A recent article on anbaxy states that "the company is ranked among the top ten global generic companies and has a presence in 23…
Eli Lilly (2011) 2010 Annual Report, accessed on November 20, 2011 at: http://files.shareholder.com/downloads/LLY/1521230834x0x447905/6281D413-C258-488B-ADBE-B35289495F26/English.PDF
Industry Watch; (2008) Asia Pacific Biotech News, Vol. 12, Issue 6, pp. 37 -- 63
Lechleiter, J.C.; (2011) The return on innovation, Vital Speeches of the Day, Vol. 77, Issue 1, pp. 13-18
These claims are virtually all based on the concept that corporations - particularly multinationals -- should be held accountable for their actions within their sphere of operations. "Corporations, for their part, have responded in numerous ways, from denying any duties in the area of human rights to accepting voluntary codes that could constrain their behavior" (atner, 2001, p. 436). In fact, this very point is echoed throughout the literature; for example, "At the turn of the 20th century, corporations tended to disregard the public interest willy-nilly. And even as recently as one-half century ago, corporations had so much power over the marketplace and so little responsibility to society" (Sriramesh & Vercic, 2003, p. 450). Despite these trends, things are changing, though, as atner points out: "The last decade has witnessed a striking new phenomenon in strategies to protect human rights: a shift by global actors concerned about human rights from…
Blackburn, V.L., Doran, M., & Shrader, C.B. (1994). Investigating the dimensions of social responsibility and the consequences for corporate financial performance. Journal of Managerial Issues, 6(2), 195.
Cable, V. (1995). The diminished nation-state: A study in the loss of economic power. Daedalus, 124(2), 23.
Casmir, F.L. (1997). Ethics in intercultural and international communication. Mahwah, NJ: Lawrence Erlbaum Associates.
Dalton, D.R., & Metzger, M.B. (1996). Seeing the elephant: An organizational perspective on corporate moral agency. American Business Law Journal, 33(4), 489-576.
Pharmaceutical industries have to operate in an environment that is highly competitive and subject to a wide variety of internal and external constraints. In recent times, there has been an increasing trend to reduce the cost of operation while competing with other companies that manufacture products that treat similar afflictions and ailments. The complexities in drug research and development and regulations have created an industry that is subject to intense pressure to perform. The amount of capital investment investments required to get a drug from conception, through clinical trials and into the market is enormous. The already high-strung pharmaceutical industry is increasingly investing greater amounts of resources in search of the next "blockbuster" drug that can help them gain market position and profits. Laws, regulations and patents are important to the industry while spending billions of dollars in ensuring the copyright of their products.
It is the intention of this…
Ansoff, H.I. (1957). Strategies for diversification. Harvard Business Review, 35(5), 113-124.
Ansoff, H.I. (1965). Corporate Strategy. New York, NY: McGraw-Hill.
Ashour, M.F., Obeidat, O., Barakat, H., & Tamimi, A. (2004). UAE Begins Examination of Patent Applications. Tamino.com. Retrieved January 18, 2004, from the World Wide Web: http://www.tamimi.com/lawupdate/2001-01/intprop.htm
Bain, J.S. (1954). Economies of scale, concentration, and the condition of entry in twenty manufacturing industries. American Economic Review, 44, 15-36.
These four dimensions are the tools for developing the company's marketing strategy and deciding which product line to cultivate, preserve, yield, or get rid of. Strong products should be grown or maintained. eak or unprofitable lines should be sold or discontinued as soon as possible. "Four basic factors are critical in the decision to manage individual product lines.
Cost to produce
Total sales volume" (Berry, 2012).
Going through the process of developing a marketing plan will help CVS to figure out how they are going to draw people into their stores and sell them things beyond discounted generic drugs. A provides the market with a source of discounted drugs among other products. This market need is important today as many Americans are faced with the dilemma of using their limited income on food or meds. A pharmacy should seek to fulfill the following benefits that are…
Berry, T. 2012. "Add competitive analysis to your marketing plan." Web. 2 April 2012.
Available from: http://articles.mplans.com/include-competitive-analysis-in-your-plan/
Berry, T. 2012. "Product marketing." Web. 2 April 2012. Available at:
) (adhwa, Rissing, Gereffi, Trumpbour and Engardio, 2008).
Clearly, it is important to have standards for all pharmaceuticals. Perhaps the HO or TO could monitor the quality control of this globally, adding a few cents per dose to help defray the cost, or utilizing a United Nations budget to oversee this program. It is just as important, though, to realize that until the Developed Countries share in their own resources, whether that be intellectual property or certain types of manufacturing, there will remain a large inequity and thus, an inability for globalization to really work (See: Globalization, Patents and Drugs, 2001).
Drug companies like Pfizer do have a utilitarian and moral responsibility to their stakeholders and, conversely, to patients in emerging markets. If there is a drug that will help alleviate suffering, it is not moral to keep it only for the rich countries. Conversely, there is an argument to…
Globalization, Patents and Drugs. (2001, March). Retrieved November 2010, from World Health Organization: http://apps.who.int/medicinedocs/en/d/Js2251e/
Wadhwa, Rissing, Gereffi, Trumpbour and Engardio. (2008, June 18). The Globalization of Innovation: Pharmaceuticals. Retrieved November 2010, from Social Science Research Network: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1143472
There is also a question about gender which obviously only has two possible responses, and these responses would be considered nominal in nature. Again, because this question is not integral to the findings of the survey the use of a nominal question is acceptable -- and for this question recommended.
There are few ethical implications when designing a survey such as this. The main one with which to be concerned is the privacy of the respondents. The respondents are being asked questions about general intent to remain with the company, for example, which means that protecting their privacy is essential not only to the effectiveness of the survey but also to the ethical integrity of the survey process. Employees indicating an intention to leave the company at some point should not be identified by any possible means as this could compromise their prospects at the company or the quality of…
1. Direct-to-consumer (DTC) marketing is a key means of developing and maintaining brand awareness and brand loyalty.
2. Aggressive product placement via health care practitioners remains a major means of keeping Lilly's market share of antidepressants at an optimal level. Promoting Prozac and other Lilly products at psychiatric conventions, seminars, hospitals, and private practices ensures that the drug will be highly visible, its name virtually synonymous with the treatment of depression and other mood disorders. By keeping the name Prozac on top consumers are more likely to ask for Lilly products, and psychiatrists are more likely to prescribe it.
3. Divert attention away from Prozac and toward emerging antidepressant and antianxiety medications. This alternative entails devoting more resources to research and development and less to marketing and would involve decisions at upper levels of management.
Lilly needs to maintain a major slice of the antidepressant market share regardless…
The company needs to frame the heart complication as one that is rare. Instead of apologizing, the company needs to stand by its products and assert its commitment to safety. When the company issues its warning, the commitment to safety will be evident. Moreover, the company will need to develop a new arsenal of pain killers that will take the place of the current one. This will allow the consumer public to see that the company offers options for their health care, all of which live up to high standards of safety. Finally, the company will need to show how the pain killer has been approved by government administrations like the FDA.
All types of communication media will be used during this aggressive public relations campaign. When possible the company will send agents and representatives to meet one-on-one with health care professionals and government agents. The public media will…
In other words, the higher the price, the higher the status they confer.
The active products are developed for customers interested in the products' medical properties.
In conclusion, L'Oreal's target customers are sophisticated, educated, beauty oriented people, with medium to high incomes, that appreciate the company's products' quality.
egarding the company's earnings, 54.8% of the cosmetics sales come from consumer products, 25.1% come from luxury products, 13.9% come from professional products, and 5.5% come from active products. More than half of the company's sales incomes, 52.7% come from Western Europe, 27.6% come from North America, and 19.7% come from the rest of the world.
Even if L'Oreal is the worldwide leader in the cosmetics industry, competition is very harsh in this line of business. L'Oreal's most important competitors are Procter & Gamble's Max Factor International, Clinique, Estee Lauder, but also "niche players such as Los Angeles-based cosmetics maker Stila."
L'Oreal (2007). Wikipedia, the free encyclopedia. Retrieved February 18, 2007 at http://en.wikipedia.org/wiki/L%27Oreal .
L'Oreal: The Beauty of Global Branding. BusinessWeek online. Retrieved February 18, 2007 at http://www.businessweek.com/1999/99_26/b3635016.htm .
So every often, the retailer would be aware of other similar products in the market and if client brings up other products, the sales people should know why their product is better. This can only happen if they know of other products.
Even though the training program would be an additional financial burden, still the rewards and benefits can be enormous. In the light of what it can do for the company, it is safe to say that some additional cost should not be used as an excuse to ignore training. Not only does training make sales people more effective, it also gives them a sense of self assurance and confidence which automatically draws people to them because their body language would be able to communicate their knowledge and will make the product more attractive.
Secondly with training, the staff would also be able to address the needs and problems…
How do these companies provide care?
Aetna provides care by being a health insurance company that offers a range of services in the field of medical, pharmaceutical, dental, behavioral group, long-term care, and plans for those who are disabled. Humana is also a health insurance company that offers its services in numerous states. United Health Group operates two businesses, known as United Healthcare and Optum, and similar to the two aforementioned companies, it offers health insurance to individuals, which includes seniors.
What types of plans do they have?
Aetna offers various types of plans under its various insurance, which as mentioned before, include medical, dental, vision, medicare, disability, pharmacy, life, student, behavioral health, health expense funds, and wellness products and discounts. Under medical insurance, a person can get a quote via state, which may include individual HMO health benefits plan or QPOS individual advantage health benefits and health…
Aetna - Health Insurance, Dental, Pharmacy, Group Life and Disability Insurance. (n.d.). Aetna - Health Insurance, Dental, Pharmacy, Group Life and Disability Insurance. Retrieved December 19, 2011, from http://www.aetna.com
HUMANA - Guidance when you need it most. (n.d.). HUMANA - Guidance when you need it most. Retrieved December 19, 2011, from http://www.humana.com/
UnitedHealth Group - Featured News - Products & Services. (n.d.). UnitedHealth Group - Featured News - Products & Services. Retrieved December 19, 2011, from http://www.unitedhealthgroup.com
Globalisation has presented business organisations with an opportunity to do business internationally. Today, multinational corporations (MNCs) are prevalent, with many commanding immense power in the global marketplace. Nonetheless, operating in the global scene is usually not a straightforward undertaking. The global business environment presents numerous complexities, which MNCs must effectively deal with if they are to be successful (Noorderhaven and Harzing, 2003).
One of the major complexities MNCs face relate to human resource management (HRM). Indeed, managing human resources in the international context can be a daunting task. This is particularly because of considerable cultural, institutional, economic, and political differences across countries (Thite, Wilkinson and Shah, 2012). National (country-of-origin) characteristics tend to influence how MNCs behave in the host country. They influence not only corporate strategy, but also the kind of HRM practices MNCs adopt in the host country (Sethi and Elango, 1999; Yu, Park and Cho, 2007; Cox, 2014;…
Westminster Company case study to analyze the firm's logistics. Aspects like supply chain, cost factors, and design of the company's logistics system will be discussed. isk definitions are also included among other aspects evaluated in the paper.
Instituted in the year 1923, Westminster Company is among the largest 'consumer healthcare product' producers. The company, its logo, and the merchandise it produces, are renowned locally, and worldwide. The firm's active living groups comprise a healthcare center, residential living, and support services. Westminster has offices in Latin America, Pacific im, and Europe, as well.
With globalization and market expansion, the firm is now faced with fresh challenges with regards to customer satisfaction (Case Study Images Provided by Customer). Consequently, three alternative strategies may be applied to deal with this issue, namely, Point of Sale (POS) information system, individual customer specifications, and reduction of order cycle duration. The following question will have to…
Bhattarai, H. (2011, August ). Logistics Management Information System Software Used in The Antiretroviral Therapy Program In Karnat Aka State, India: Recommendations For Improvement . Retrieved June 22, 2015, From Http://Apps.Who.Int/Medicinedocs/Documents/S21037en/S21037en.Pdf
Case Study Images Provided By Customer
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(n.d.). ***** - term papers, essays, book reports, research papers. Westminster Company Case Study - Term Papers - Isaacpr. Retrieved June 22, 2015, from http://www.*****/essay/125696/Westminster-Company-Case-Study
Business Data Analysis
Tabel 1.0: data concerning the 30 fastest -- growing companies as listed on March 16, 2005, on the Fortune magazine website
New Century Financial
Central European Distribution
National Medical Health Card Sys
Friedman Billing Ramsey Group
Sanders Morris Harris Group
United PanAm Financial
Capital Title Group
Fidelity National Financial
Source: Fortune magazine website
1. Develop a stem-and-leaf display of the revenue growth percentages for the 30 fastest-growing companies and describe the shape of the distribution.
accounting standards and concepts violated by Ligand Pharmaceuticals, as well as the role of the PCAOB as a regulatory body.
Standards for Accounting of Sales Returns
The applicable standard includes FAS 48, which establishes standards for revenue recognition when the right of return exists. FAS 48, issued in 1981, specifies under what circumstances revenue is recognized on a sale in which a product may be returned. For a business that sells its products but gives buyers the right to return the product, FAS 48, paragraph 6, states that revenue from the sales transaction is recognized at the time of sale only if all of the six conditions specified in items a through f were met. One condition which proved a problem for Ligand was that "the amount of future returns can be reasonably estimated (paragraph 8)" (FASB, 1981, p. 5).
Paragraph 6 further specifies that, in the event that all…
AICPA. (1972). AU Section 560 Subsequent Events. Retrieved December 2, 2011 from: http://www.aicpa.org/Research/Standards/AuditAttest/DownloadableDocuments/AU-00560.pdf
FASB. (1981). Statement of Financial Accounting Standards No. 48). Retrieved December 2, 2011 from: http://www.fasb.org/cs/BlobServer?blobcol=urldata&blobtable=MungoBlobs&blobkey=id&blobwhere=1175820909255&blobheader=application%2Fpdf
Hilzenrath, D.S. (2010, July 11). Critics question effectiveness of auditing oversight board. The Washington Post. Retrieved December 2, 2011 from: http://www.washingtonpost.com/wp-dyn/content/article/2010/07/10/AR2010071000074.html
McKenna, F. (2010, June 26). Bigger, stronger, faster: The PCAOB after the Supreme Court ruling. Retrieved December 2, 2011 from: http://retheauditors.com/2010/06/26/bigger-stronger-faster-the-pcaob-after-the-supreme-court-ruling/
Polish Companies Reacted to Ethical Issues and Changes in usiness Standards Since the Fall of Communism in 1989?
Poland's Economy Pre-Communism's Fall
Poland's Natural Resources
Minerals and Fuels
The Polish Economy Under Communism
The Centrally-Planned Economy
Establishing the Planning Formula
Retrenchment and Adjustment in the 1960s
Reliance on Technology in the 1970s
Reform Failure in the 1980s
Poland's Economy After the Fall of Communism
Poland After the Fall of Communism
Fall of Communism
Marketization and Stabilization
Required Short-Term Changes
Section 2.3.2. The Shock Strategy
Section 2.3.3. Initial Results
Section 2.3.4. Long-Term Requirements
Section 2.4. Macroeconomic Indicators for 1990-91
Section 2.4.1. Price Increases
Section 2.4.2. Impact on Productivity and Wages
Section 2.4.3. Statistical Distortions
Section 2.4.4. Agricultural Imbalances
Section 2.4.5. Causes of Decline
Section 2.5.The Polish Post-Communism Privatization Process
Section 2.6. Structure of Poland's Economy: Post-Communism
Section 2.6.1. Fuels and Energy
Bowie E. (1999) Business Ethics a Kantian Perspective Oxford: Blackwell
Ciszewska B. (1998) Unethical behaviour Warszawa: Rzeczpospolita
Cryssides G.D.; Kaler J.H. (1999) Introduction to the ethics of business. Warszawa: PWN
Davies W.F. (1997) Current issues in business ethics London: Routledge
Performance of the Company
Statements of corporate goals
SWOT analysis of United Health Group
9A PESTEL Analysis
In this paper, we present a systematic analysis of the United Health Group through a SWOT and PESTEL analysis. The analysis is aimed at the identification of an internal problem within the company's environment and then prescribing a suitable solution to it. The identified problem is poor Ergonomics. This is then explored and then recommendations provided.
The creation of a better health care system has been one of the key drivers of change in the American social, economic and political reform agenda. Quality health care to al citizens has been a piped dream for many. In this paper we presents an analysis of the effectiveness of United Healthcare in the provision of quality health care. Our focus is on its environmental analysis with the aim of isolating the genesis of the…
Amick, B., Robertson, M., Moore, A, DeRango, K and Mendez, CC .The Impact of Two Ergonomic Interventions on Health and Productivity: A Quasi-Experimental Field Study
Amick III, BC, Robertson M, DeRango K, et a (2003) Effect of office ergonomics intervention on reducing musculoskeletal symptoms. Spine 2003;28:2706-2711.
Amick., B., Roberson, M., DeRango, K ., Palacios, N., Rooney, T and Bazzani, L (2002).The Health Consequences of an Office Ergonomics Training Coupled with an Ergonomically Designed Chair: Preliminary Results.Proceedings of the Conference WWDU 2002 World Wide Work - May 22-25, 2002 - Berchtesgaden pg 371-373
Bergqvist U.(1995) Visual display terminal work -- a perspective on long -- term changes and discomforts. Int J. Ind Ergon.;16:201 -- 9.
Marketing Plan for Ford Motors Company
The logic is really very simple -- when a model is supposed to be for women, it has to be designed by women.
It is clear that cars are now being purchased in USA for both men and women, and many times, women have their own cars. This fact had been realized as early as 1956 when there was a model called Dodge La Femme for women to drive and probably that was the reason why it failed. (Women and SUVs) There was a difference in the thinking of men who designed the car and women who were supposed to drive it.
The market for cars among women is large and it had been 20% of the new vehicles during 1984 and this has gone up to 28% in 1990. The decisions are taken by them in 80% of the cases of purchase. (Women…
Concept cars for women. 4 March, 2004. Retrieved from http://english.aljazeera.net/NR/exeres/4B81525E-DCB6-4BBB-8B67-82DAD22E03E4.htm Accessed on 18 July, 2005
Kile, Heather. Women and SUVs. Retrieved from http://fubini.swarthmore.edu/~WS30/HKFinalProject.html Accessed on 18 July, 2005
Ten Cars Women Love. Retrieved from http://cars.msn.co.uk/CarNews/carswomenlove/?MSID=af118d01110c47c484a9a1ae4f5e590b Accessed on 18 July, 2005
Women and minority automobile buyers. Road and Travel Magazine. Retrieved from http://www.roadandtravel.com/businessandcareer/careers/minoritycarbuy.htm
Negotiation Strategies for Chemical Company International and Dragon Manufacturing
Negotiations are used to resolve existing and potential conflicts, as well as to help organizations of all sizes and types achieve their goals. In many cases, negotiators fail to achieve all or even most of their goals, though, because of an inability to reach mutually advantageous agreements. In some cases, though, negotiators simply lose sight of what they are after and become embroiled in increasingly heated confrontations that lead nowhere. Successful negotiations are possible, though, by following some proven methods that can help stakeholders avoid these pitfalls and focus on the best available alternative. In this regard, this report provides both parties to the negotiations with an independent detailed report concerning best approaches to the negotiation for two companies currently involved in negotiations, Chemical Company International and Dragon Manufacturing, including a recommended negotiation strategy, negotiation best practices and an appraisal of…
Arnett, R.C. 1996. Communication and Community. Carbondale, IL: Southern Illinois
Carnegie, D. 1937. How to Win Friends and Influence People.
Fisher, R., Ury, W. & Patton, B. 1991. Getting to Yes: Negotiating Agreement without Giving In.
New York: Penguin.