The world pharmaceutical industry

Abstract

Pharmaceuticals are big business as companies invest huge amounts of money in research and compete vigorously for markets. The survival of a company can rest on a single, global block-busting drug while scandals over drugs like Myodil put severe pressure on regulatory bodies. The risks involved in developing new products are numerous, while the returns, if a drug is successful, are enormous. The author looks at the way the industry works with particular emphasis on strategy. If products are not accurately targeted and marketed, they can fail and incur huge losses. Rigorous management strategies are essential in developing continuous innovation processes and sustain a company's competitive advantage. After analyzing the framework of the industry, James Taggart looks at the business environment in four key world markets, taking into account the latest developments in Europe. Looking at the strategies adopted by world-dominating companies like Glaxo, Upjohn, Genentech and La Roche, and discussing the importance of products like fragrances and vitamins alongside drugs, this book looks at the future of the industry and its giants.

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